Spain bank bad debts at 14-year high: central bank

17th December 2010, Comments 0 comments

Bad loans held by Spanish banks in October hit their highest level since January 1996, Bank of Spain data showed Friday, as property-related losses continue to weigh on lenders' balance sheets.

Total bad debt held by the banks came 103.7 billion euros (137.1 billion dollars) for a ratio of bad debt to total debt of 5.66 percent, up from 5.49 percent in September and 4.98 percent in October 2009.

© 2010 AFP

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