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Spain’s bad loans ratio falls to 10.35% in Nov

Spain’s bad loans ratio falls to 10.35% in Nov

MADRID: Spanish banks’ bad debts as a percentage of total loans fell to 10.35 percent in November, according to provisional data published on Monday by the Bank of Spain.

Bad loans stood at 138.894 billion euros (151.30 billion U.S. dollars) in the eleventh month of 2015, its lowest level since November, 2011, the Bank said, while overall lending stood at 1.342 trillion euros.

From October to November, bad loans fell by 2.026 billion euros and the rate has fallen by 3.25 percent from the maximum reached in December, 2013 when the bad loans ratio stood at 13.6 percent.

The rate had also fallen in December 2012 and February 2013 as a result of transfers of toxic assets made by some Spanish banks to the Spanish ‘bad bank’, SAREB.