Crisis: Spanish banking insolvency reaches new 11.23% high

Record high since 1994

18 December, 18:50

(ANSAmed) - MADRID, DECEMBER 18 - Insolvent debt towards banks, cooperatives and other lenders reached a new record of 11.23%, the highest rate since 1994, when it was 9.15%, the Bank of Spain made known Tuesday.

The last month in which the rate of insolvency decreased was June 2011. It has been rising steadily since then, making this the 16th consecutive month in which lenders have had trouble recovering their loans, the central bank said. (ANSAmed).

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