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5 years ago
Spain banks bad loans hit new high in September
November 19, 2012 / 9:11 AM / 5 years ago

Spain banks bad loans hit new high in September

MADRID, Nov 19 (Reuters) - Spanish banks' bad loans rose to 10.7 percent of their outstanding portfolios in September, reaching a fresh record high, Bank of Spain data showed on Monday, up from 10.5 percent a month earlier.

Loans that fell into arrears increased by 3.5 billion euros ($4.5 billion) from August, reaching 182.2 billion euros in September.

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.

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