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Spain's bad loan ratio hits 13 pct in October

Source: Reuters - Wed 18th Dec 2013
 Spain's bad loan ratio hits 13 pct in October

Spanish banks' bad debts as a percentage of total loans rose to 13.0% in October from 12.7% in September, marking a fresh record as credit fell again month on month, Bank of Spain data showed on Wednesday.

Households and companies are still struggling with debts even as Spain emerges from a prolonged recession, and banks have cut lending as they try to boost capital ahead of Europe-wide health checks next year.

Bad debts rose €3.3 Bln to €191 Bln in October, while total credit shrank €12 Bln to €1.47 trillion.

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