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Spanish bad loans rise

Spanish bad loans rise
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First Published: Fri, Nov 18 2011. 08 26 PM IST

By Bloomberg
By Bloomberg
Updated: Fri, Nov 18 2011. 08 26 PM IST
By Bloomberg
Madrid: The pool of bad debt held by Spanish banks rose for the sixth consecutive month in September, but at a slower pace than in recent months, data released by the Bank of Spain on Friday showed.
According to the data, 7.16% of loans held by banks were more than three months overdue for repayment in September, up from 7.14% in August. Bad debts have grown steadily ever since a decade-long housing bubble burst in late 2007.
Overall, €128.08 billion in loans were non-performing in September, a record high, and slightly more than the €127.79 billion recorded in August.
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First Published: Fri, Nov 18 2011. 08 26 PM IST
More Topics: Spain | Loans | Debt | Spanish Banks | Bank Of Spain |