×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Spain | banks | bad loan | ratio

Spanish Banks' Bad Loan Ratio Edges Higher

Monday, 19 August 2013 07:29 AM

The proportion of bad loans on Spanish banks' books has reached a record of 11.7 percent as more companies and individuals defaulted amid the recession.

Figures released Monday by the central bank show non-performing loans totaled 176.4 billion euros ($235.3 billion) in June, up from 170.21 billion euros in May.

The ratio has soared from 1 percent in 2007, a year before Spain's property market collapsed, ushering in a crisis. Spain has been in recession for most of the past four years and has a 26.3 percent unemployment rate.

The government claims its austerity measures and reforms are working and predicts the recession will end this year, but international experts are less optimistic.

Spain was forced to ask for a 100-billion euro bailout for its banks last year.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


FinanceNews
The proportion of bad loans on Spanish banks' books has reached a record of 11.7 percent as more companies and individuals defaulted amid the recession.
Spain,banks,bad loan,ratio
128
2013-29-19
Monday, 19 August 2013 07:29 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved