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Spain bad loans ratio slightly lower in June

Source: Reuters - Thu 18th Aug 2011

Spanish banks' bad loans ratio eased in June but remained at high levels, Bank of Spain data showed on Thursday.

The level of bad loans as a ratio of total lending by Spain's financial sector fell 818 million euros to 116.6 billion, taking the ratio down to 6.42% in June from a 16-year high of 6.5% in May.

Bad loans have risen consistently in Spain's banking system as unemployment and high personal debt levels weigh. They are now more than 10 times higher than in the mid-2000s.

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