Unicredit CEO sees NPLs stabilising by year-end

CERNOBBIO, Italy, Sept 6 Fri Sep 6, 2013 8:35am EDT

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CERNOBBIO, Italy, Sept 6 (Reuters) - Bad loans at Italy's UniCredit are expected to stabilise by the end of the year as the euro zone's third-largest economy benefit from a recovery in the currency bloc, the bank's chief executive said on Friday.

"In June-July, the pace of growth in non-performing loans at UniCredit was lower than for the whole banking system," CEO Federico Ghizzoni told reporters on the sidelines of a conference.

"Our non-performing loans are still growing but at a pace that gets smaller every month. I see them stabilising by year-end," he said.

(Reporting by Paola Arosio and Francesca Landini, editing by Valentina Za)