Debt crisis: Spanish bad bank loans soar to fresh high
17 August 2012 @ 13:51
Bad debts climbed to 9.42pc of total lending, the Bank of Spain said on Friday, the highest since records began in 1962.
The data showed that €164.4bn of loans were more than three months past their repayment deadlines.A month earlier, the bad loan rate was 8.96pc.
Deposits of households and companies fell 6.59pc from a year earlier, the regulator said.
The Spanish government has come under market pressure to seek a full scale international rescue after agreeing a €100bn bail-out to recapitalise its battered banking sector.
Read the full article at the Telegraph
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