Spain's bank bad loans hit record high in June

MADRID Aug 17 (Reuters) - Spanish banks' bad loans rose to 9.42 percent of their outstanding portfolios in June, the highest level on record, Bank of Spain data showed on Friday, up from 8.95 percent a month earlier.

Loans that fell into arrears increased by 8.4 billion euros ($1.03 billion) from May, reaching 164.4 billion euros in June.

Non-performing loans on the books of the country's crippled banks have risen steadily since a decade-long property boom ended four years ago, with the country now in its second recession since 2009 and one in four Spaniards out of work.