News  

Bad loans held by Spain’s banks fall in April

bank-greeneuropeanjournalBad loans held by Spanish banks fell for a third straight month in April to a total of 161.6 billion euros ($184.1 billion), the Bank of Spain said Thursday.

The new figures show bad loans on Spanish bank books dropped from 12.09 percent of total credit in March to 11.95 percent in April, with much of the troubled paper held by lenders most exposed to real estate markets like Bankia, which required a government rescue in 2012 to avoid bankruptcy.

Banks with more diversified and international activities like heavyweights Banco Santander and BBVA are less weighted down with bad loan risk, the figures showed.

Following the bursting of Spain’s real estate bubble burst in 2008, the volume of credit due to Spanish banks by clients unable to repay increased to dangerous levels, reaching to an all-time high of 13.6 percent in 2013.

Amid the resulting crisis, Spain’s eurozone partners agreed in June 2012 to provide up to 100 billion euros to rescue its crippled banking system, with Madrid ultimately accepting 40 billions in aid to help create a so-called bad bank to take the bad loans off commercial banks.

Receive News Alerts on Whatsapp: +2348136370421


1 Comment
  • John

    My Brothers and Sister all over the world, I am Mr John Williams from Canada ; i was in need of loan some month ago. i needed a loan to open my restaurant and bar, when one of my long time business partner introduce me to this good and trustful loan lender Mr.JOHN EMMANUEL that help me out with a loan, and is interest rate is very low , thank God today. I am now a successful business man, and I became useful. In the life of others, I now hold a restaurant and bar. And about 30 workers, thank GOD for my life I am leaving well today a happy father with three kids, thanks to you Mr.JOHN EMMANUEL Now I can take care of my lovely family, i can now pay my bill. I am now the bread winner of my family. If you are look for a trustful and reliable loan leader. You can Email him via,(johnemmanuelloanfirm@gmail.com)or (johnemmanuelloanfirm@ourlook.com)Pls tell him Mr John Williams form Canada introduce you to him. THANKS

Related