April 18, 2013 / 8:21 AM / 4 years ago

Spain banks bad loans down in Feb as assets moved to "bad bank"

MADRID, April 18 (Reuters) - Spanish banks' bad loans dropped to 10.39 percent of their outstanding portfolios in February, down from 10.78 percent in January, Bank of Spain data showed on Thursday.

In a statement, the Bank of Spain said bad loans fell after nationalised banks transferred toxic assets to Spain's so-called bad bank.

Loans that fell into arrears went down by 8.8 billion euros($11.48 billion) from January, to 161.9 billion euros in February.

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