BoG: Lenders must improve quality of their portfolios

The governor of the Bank of Greece, Yannis Stournaras, has emphasized that despite the progress made by Greek banks on key fronts, challenges remain.

Speaking at the "Risk Management & Compliance Conference" on Monday, he highlighted the need for further improvement in the quality of their portfolios amid an environment of high interest rates and risks, primarily stemming from international conditions.

Stournaras noted that the challenges facing the banks include maintaining current profitability and strengthening their capital base both quantitatively and qualitatively. He added that, like all sectors, banks must respond to increasing geopolitical risks and adapt their operations to rapid technological advancements and climate change.

He also warned that the growing use of digital means in banking transactions exposes institutions to greater risks related to...