Spain bad loan ratio rises to record in June

MADRID Mon Aug 19, 2013 4:24am EDT

MADRID Aug 19 (Reuters) - Spanish banks' bad loans as a percentage of total credit rose to 11.6 percent in June, the highest level on record, Bank of Spain data showed on Monday.

The ratio was up from 11.2 percent in May and has been steadily increasing since a drop-off at the end of last year when lenders transferred toxic property assets to Spain's so-called bad bank.