TNBiz (TNBiz)
Markets  |  June 18, 2012 11:35:06

The proportion of toxic loans in the Spanish banks is the highest since April 1994 (June 18, 2012)

MADRID (MEDIAFAX) - Poor (ie toxic) loans at Spanish banks in April rose to 8.72 percent of outstanding loan portfolios, the highest level since April 1994. Informed the agency on Monday said.

It results from actual data released on Monday, the Spanish central bank the Bank of Spain.

In March of bad loans at local banks rose to 8.37 percent of outstanding loan portfolios, the highest level since August 1994.

Loans that are in arrears with payment, in comparison to March rose by 4.7 billion euros (120 billion) to CZK 153 billion euros in April.

Non-performing loans by Spanish banks to grow since the housing bubble burst in 2008, which was swollen by strong pumping cheap loans to the increasingly overvalued real estate.

The Spanish banking sector due to loan defaults in real estate was in severe crisis, and it recently for the Spanish government asked the pre-euro financial aid, which, in the euro area could reach up to 100 billion euros.

According to Reuters, the audit FINISHED Spanish banks Spanish banking sector will need to cover bad loans and recapitalization of 60 to 70 billion euros. Result of the audit, led by an independent consulting firm Oliver Wyman and Roland Berger, should be published in the coming days.

Tomáš Králíček,

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Podíl toxických úvěrů ve španělských bankách je nejvyšší od dubna 1994 (18.6.2012)

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