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The bad loans ratio for Spanish financial institutions rose to a near 15-year high in August, Bank of Spain data showed on Monday, as customers struggled to repay debt in a weak economy and prolonged housing sector bust.
The level of unpaid credit as a ratio of total lending by Spain's financial sector - including banks, financial co-operatives and retail credit cards - rose to 5.62 percent in August from 5.47 percent a month earlier.
The level of unpaid debts has been rising steadily since the beginning of the global financial crisis which popped a decade-old property bubble and has left over 4 million Spaniards out of work.
Bad debts rose over 2 billion euros ($2.80 billion) to 102.5 billion euros in August from July, the central bank said.
Savings banks, the hardest hit by the collapse of the housing sector, saw non-performing loans (NPL) rise to 5.69 percent in August from 5.52 percent in July, while listed banks reported NPL ratio of 5.49 percent from 5.37 percent. ($1=0.7153 Euro)