The NPL rate dropped to 14% last year from 23%, he said at a conference organized by Ziarul Financiar.
“Last year, non-performing loans dropped from over 23% to 13.99%. If the pace is maintained, NPLs could drop even more but I don’t think we’ll see a similar pace this year. However, in another year the rate could drop to 10%,” said Danescu.
He added 75% of NPLs are currently generated by legal entities and half of these are insolvent businesses.