Spain bad bank loans hit record high in Aug.: data
AFPMADRID -- Bad loans at Spanish banks, a major source of concern to financial markets, surged to a new record high in August, with one in 10 loans deemed at risk, official data showed Thursday.
October 19, 2012, 4:27 pm TWN
The bad loans ratio rose to 10.51 percent of the total in August from a revised 10.1 percent in the previous month, the Bank of Spain said in a report.
Preliminary data released last month by the central bank had put the bad loan ratio in July at 9.86 percent.
Overall, 178.6 billion euros (US$234 billion) in loans were at risk of not being repaid in August.
Up sharply from a share of 8.96 percent of total loans in May, it was the highest bad loan ratio recorded since the central bank began compiling the data in 1962.