Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain bad loans ratio hits near 15-yr high in Aug

Source: Reuters - Mon 18th Oct 2010

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)

Comment on this Story

 
Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs