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Business & Finance

Spain banks July bad loans ratio highest since Feb 1995

MADRID : Bad loans as a percentage of total loans at Spanish banks rose 3.1 billion euros ($4.3 billion) in July, to 124
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By Imad Uddin
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MADRID: Bad loans as a percentage of total loans at Spanish banks rose 3.1 billion euros ($4.3 billion) in July, to 124.7 billion euros, Bank of Spain data showed on Monday.

The level of bad loans as a ratio of total lending by Spain's financial sector was 6.94 percent, the highest since February 1995.

Bad loans have risen in recent months in Spain's banking system as unemployment and high personal debt levels weigh.

 

Copyright Reuters, 2011

 

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