Monday, April 21, 2014   

Spanish risky loans top record 190b euros
(12-18 18:48)

Band loans in Spanish banks hit the highest level for 50 years in October, data show.
The level of loans highly unlikely to be repaid increased by 13 percent of all outstanding credit from 12.68 percent in August, the Bank of Spain said.
It was the highest rate since current records began in 1962.
The value of the risky loans, mostly linked to the collapsed property sector, climbed by three billion euros from the previous month to 190.97 billion euros in September.
Last year, the euro zone offered a loan of up to 100 billion euros to shore up the balance sheets of Spain's banks, swamped in bad loans since a property bubble imploded in 2008 plunging the country into a recession.
Spain, the euro zone's fourth-biggest economy, has drawn 41.3 billion euros from the rescue loan, which expires at the end of January.
   
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