June 18, 2014 / 8:27 AM / in 4 years

Spain bad loans ratio holds steady in April at 13.4 pct

MADRID, June 18 (Reuters) - Spanish banks’ bad debts as a percentage of total loans was 13.4 percent in April, stable from a month earlier, as both bad loans and overall lending dropped.

Total credit in the financial system was 1.43 billion euros in April, down from 1.44 billion euros ($1.96 billion) a month earlier, data from the Bank of Spain released on Wednesday showed.

Bad loans dropped to 191.8 million euros in April from 192.8 million euros in March, after hitting a record high in December.

Spanish banks, crippled with sour assets after a prolonged property bubble burst in 2008, have mostly forecast that bad loans will peak this year as the country pulls out of recession and lending picks up again. ($1 = 0.7345 euros) (Reporting by Paul Day; Editing by Fiona Ortiz)

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