IMF urges San Marino authorities to tackle NPL problem
Central bank may needs outside help with AQRs, staff suggest
San Marino's authorities must take action to address the "very large stock" of non-performing loans (NPLs), the International Monetary Fund said on May 10. They may need outside help in the process, staff added.
At the end of 2015, the stock of NPLs stood at €2 billion, equivalent to 47% of total loans and 140% of GDP. Over half pertained to Cassa di Risparmio della Repubblica di San Marino (CRSM), the country's largest bank.
IMF staff harboured particular concern over CRSM, which is in line for
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