Overall, credit to the private sector has contracted by 1.4% on average, slightly more intensely relative to the previous year. Improving asset quality, through effective management of non-performing loans, is the most important challenge for the banking industry today.
Vítor Constâncio: Growth in a more resilient Euro area Remarks by Mr Vítor Constâncio, Vice-President of the European Central Bank, on a panel entitled "The Global Economy: Prospects for Broad-Based Growth", at the 32nd Annual G30 International Banking Seminar, Washington DC, 15 October 2017. * * * Ladies and Gentlemen, It is a great pleasure to be part of such a distinguished panel.