MADRID, Oct 27 (Reuters) - The euro zone's biggest bank Santander said it expected bad loans in Spain to keep on growing as Spaniards, blighted by unemployment and heavy mortgage debt, fall into arrears on payments.
Spain remains a weak spot for Santander, despite a decade of aggressive expansion abroad, as souring loans related to a steep property downturn call for greater provisions.
"We see bad loans on the rise in Spain," Chief Executive Alfredo Saenz told reporters at a press conference. "I said at the last presentation that the peak could be around 5 percent but I got it wrong."
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