MADRID: Spanish banks' bad debts as a percentage of total loans was 13.02 percent in September, slightly below the 13.24 percent registered a month earlier, the Bank of Spain said on Tuesday.

The ratio of bad loans to total lending fell as the net value of credit in the financial system and soured loans dropped to 1.39 trillion euros ($1.74 trillion) and 180.52 billion euros respectively in September.

Copyright Reuters, 2014