They keep swelling non-performing loans from Spanish banks, which in April reached a new all-time high at 152,740 billion euros. The data was released today by the Central Bank of Madrid.
The institutions of the Iberian country are particularly affected by the effects produced by financial bubble linked to the real estate market. The contraction of the sector, combined with a very high unemployment and growing, it has rapidly increased the number of bad mortgages.
According to data from the Bank of Spain, with the latest increases in April the share of non-performing loans on total loans reached 8,72%, against 8,37% in March and 8,15% in February. This is a new high since 1994.
Meanwhile, today Spain and its banks are once again being targeted by market tensions, on which the positive effect of the elections in Greece was short-lived.
Forti 7,13-Year Bonos Sells Drive Yields To New All-Time High Of XNUMX%, while the Madrid Stock Exchange – after a positive opening – reversed course, falling by 1,36% in the late morning, driven downwards by banking stocks.
