Irish deputy encouraged by NPL progress
Cyril Roux says banks have improved their distressed debt operations
Central Bank of Ireland deputy governor Cyril Roux pointed to "material improvements" in banks' distressed debt operations today, but warned against becoming "complacent" with regard to non-performing loans (NPLs).
Roux told the Chartered Accountants Ireland, Leinster Society, the level of distressed business loans is set to keep falling throughout 2015, though it will take several years to address the backlog.
"While there are encouraging signs, it is important not to be complacent," he said.
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