Spain's bailed out banking sector continues to show worrying signs with bad loans hitting new record highs, according to data published on Friday by the Bank of Spain.
The so-called "doubtful loans" rose to 12.12% in August, up from July's 11.97%. In absolute terms bad loans rose by €2.01bn to €180.67bn.
The Spanish financial sector received a €100bn bailout from the Eurozone although it has only used €40bn of the funds which were put at its disposal, with the availability of the remainder expected to expire in December.
The bad loans continued to rise despite the fact that Spanish financial institutions transferred their toxic assets to the so-called "bad bank", known as the Sareb, between December 2012 and last February. The doubtful loans have been on the rise now for six consecutive months.
Source: LiveCharts
The so-called "doubtful loans" rose to 12.12% in August, up from July's 11.97%. In absolute terms bad loans rose by €2.01bn to €180.67bn.
The Spanish financial sector received a €100bn bailout from the Eurozone although it has only used €40bn of the funds which were put at its disposal, with the availability of the remainder expected to expire in December.
The bad loans continued to rise despite the fact that Spanish financial institutions transferred their toxic assets to the so-called "bad bank", known as the Sareb, between December 2012 and last February. The doubtful loans have been on the rise now for six consecutive months.
Source: LiveCharts
