European banks sitting on bad debts of €1tn, says report
November 25 , 2015
Banks in Europe are sitting on a mountain of bad debts worth a whopping €1 trillion, and this is not only making them less profitable but also affecting their capacity to lend to businesses, according to a report by the European Banking Authority (EBA).
The EBA analysed 105 banks across 21 EU countries. The report reveals that the non-performing loans comprise about 6% of the total loans and advances of European banks.