Caixa Bad Loans Drop in Sign Spain Housing Impact Abating
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Two Spanish lenders said today their bad loan ratios fell in the first quarter, adding to evidence that the damage to bank balance sheets from a six-year economic slump is fading.
CaixaBank SA, Spain’s third-biggest bank, said its proportion of non-performing loans to total lending dipped to 11.36 percent in the first quarter from 11.66 percent in December, the first time decline since the end of 2006. Banco Sabadell SA, the country’s fifth-biggest bank, said today its ratio slipped to 13.57 percent from 13.63 percent.