Spain Lenders’ Bad Loans Ratio Reached Record 11.61% in June
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Bad loans as a proportion of total lending in Spain rose to a record in June as the country’s weak economy spurred a jump in missed payments. Bank shares fell.
Bad loans accounted for 11.61 percent of lending in Spain in June compared with 11.21 percent in May and 9.65 percent in the same month a year earlier, the Bank of Spain in Madrid said on its website today. That’s the highest level since the regulator started compiling the data in 1962. The stock of “doubtful” loans in the economy rose to 176.4 billion euros ($235.1 billion) as 6.21 billion euros of credit soured during June, the regulator said.