×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Spanish | Banks | Bad | Loans

Spanish Banks' Bad Loans Decline After Transfers

Monday, 18 February 2013 09:06 AM

Non-peforming loans as a proportion of total lending at Spanish banks dropped in December after lenders including Bankia SA transferred soured assets linked to real estate to the country’s bad bank.

The proportion fell to 10.44 percent from a record 11.38 percent in November, the Bank of Spain said on its website Monday. Doubtful assets declined to 167.4 billion euros ($224 billion) from 191.6 billion euros in November, the bank said.

Spain set up a bad bank known as Sareb under the terms of a European bailout for its banking system to absorb the soured assets of nationalized lenders such as the Bankia group. While the transfer of assets to Sareb in December brought down the bad-loans ratio after 20 straight monthly increases, a Spanish economy set to shrink for a second year in 2013 will continue to generate defaults, analysts and bankers say.

Sareb received 37 billion euros of assets from four nationalized lenders in December. The bad-loans ratio for Spanish lenders in December 2011 was 7.84 percent.

© Copyright 2022 Bloomberg News. All rights reserved.


FinanceNews
Non-peforming loans as a proportion of total lending at Spanish banks dropped in December after lenders including Bankia SA transferred soured assets linked to real estate to the country's 'bad bank.'
Spanish,Banks,Bad,Loans
169
2013-06-18
Monday, 18 February 2013 09:06 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