The outlook for the banking and financial services sector in Greece is mixed. In the banking sector, significant exposureto non-performing loans (NPLs) remains a risk, though we note that government plans to introduce a new asset protection schemeshould improve market stability and attract private investors. Client lending activity remains downbeat, a reflection of the country'shigh unemployment rates and sluggish economic growth, factors which are also impacting upon demand in the insurance andinvestment sectors. We note, however, that the Greek stock market recorded healthy gains in 2019 and there are signs thatconsumer confidence is returning.
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