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Spanish CB says bad loan ratio up to 10.7% in Sep  Join our daily free Newsletter

MENAFN - 20/11/2012

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(MENAFN) Spain's central bank stated that in September, bad loans of the country's banks grew to 10.7 percent of total loans, reported Gulf News.

The bank said that September's bad loan ratio was the highest since 1962, when the records were first launched.

In the month before, the ratio was at 10.52 percent.

The bank noted that in September, the total value of these loans reached USD233 billion

According to an audit by US consultancy Oliver Wyman, banks in the debt-ridden country needed to raise USD75.74 billion of extra capital, or USD68.58 billion, after adjusting for the effect of certain mergers and fiscal procedures.

However, the Spanish government said it thinks that it needs nearly USD51 billion from the bailout fund, as some of the banks could collect capital themselves.

It is worth noting that in June, Euro zone authorities agreed to extend a rescue loan of USD127.72 billion to help Spanish banks.

 






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