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.
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