National Bank of Greece SA is targeting a nonperforming exposure ratio of roughly 5% by 2022, down from 41% in 2018, according to an investor presentation.

The lender said it sees a material reduction in nonperforming exposures by 2020, driven by sales in consumer and corporate portfolios. Gross nonperforming exposures are expected to be €1.7 billion in 2022, down from €16.3 billion at 2018-end.

The bank expects large mortgage securitizations in 2021–2022, when market conditions have further improved and restructuring efforts have been explored.

It plans to cut its branch network, to about 390 in 2019 from about 460 in 2018.