April 15, 2016 / 9:41 AM / 3 years ago

Portugal PM wants solution for banks' non-performing loans

LISBON, April 15 (Reuters) - Portugal’s prime minister said on Friday a solution had to be found for the banking system’s non-performing loans and his government intends to talk to regulators about how to do it.

“It would be useful to have a vehicle to effectively resolve this situation” of non-performing loans, Prime Minister Antonio Costa told parliament.

He added that “I do not defend any injection of public money into banks...the problem cannot be resolved with the use of taxpayer’s money.”

Analysts have said Portuguese banks have been unable to fully take advantage of record low European interest rates because of large portfolios of bad loans left over from the country’s debt crisis.

Reporting By Axel Bugge and Sergio Goncalves, editing by Shrikesh Laxmidas

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