January 16, 2015 / 9:21 AM / 5 years ago

Spanish banks' bad loans fall, as credit rises in November

MADRID, Jan 16 (Reuters) - Spanish banks’ bad debt as a percentage of their total credit inched down to 12.7 percent in November from 12.9 percent a month earlier, data showed on Friday, as lending across the system rose for the first time since last June.

Banks’ soured debts began to rise sharply during a recent recession, as households and companies struggled to pay back loans. But these started falling again in 2014 as an economic recovery took hold.

The European Central Bank, meanwhile, has been trying to kickstart lending in the euro zone with cheap liquidity for banks, to spur growth, and Spanish banks are expected to start giving out more credit this year. (Reporting by Sarah White, Editing by Sonya Dowsett)

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