Spanish Bad Loans rose to 10.7 percent of Bank Portfolios

Spanish banks’ bad loans rose to 10.7 percent of their outstanding portfolios in September, reaching a fresh record high, Bank of Spain data showed on Monday, up from 10.5 percent a month earlier.

Loans that fell into arrears increased by 3.5 billion euros ($4.5 billion) from August, reaching 182.2 billion euros in September.

Non-performing loans on the books of the country’s crippled banks have risen steadily since a decade-long property boom ended four years ago, with the country now in its second recession since 2009 and one in four Spaniards out of work.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, he established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza