Default Rate in Banks Falls in March & Stands at 13.39%

20/05/2014 – Expansion

The default of loans lent by banks, savings banks, cooperatives and other financial institutions operating in Spain declined slightly in March marking the third consecutive month of way downwards. In detail, it post 13.39%, a better score compared with the December´s historic record of 13.61%.

According to experts consulted by Efe, default showing shrinking tendency will not rebound easily and the indicator is expected to stabilize and then begin to fall uninterruptedly in the second half of the year (or in 2015, as per several specialists´opinion).

The March data on provisions confirms that the Spanish financial sector has accumulated nearly a €192.8 billion default volume.

 

Original article: Expansión

Translation: AURA REE

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