Late Payments Rebound: November Closes With 13.14%

17/01/2014 – Expansion

Nothing new from thE late payments´side: the rate goes up, however not as rapidly as before. The data published by the Bank of Spain this morning shows that the credit outstanding in all financial entites reached €190.990 million in November, with a monthly rise of €1.564 million.

In fact, the data is similar to the numbers gathered in November 2012: €190.516 million, before all the toxic assets have been transferred to Sareb.

In November, a little rebound was noted down in the outstanding balance in inter-monthly terms when the rate grew up to €3.573 million. The inter-annual drop halts at 25 basic points to 12.28%.

By entity classification, the banks reach 13.18% late payment, whereas the EFCs 11.64%. If other institutions added, like the ICO, the outstanding grows to 13.08%.

Experts say that the roof of the underwater houses will be seen not sooner than in a few quarters. (…).


Original article: Expansión (M.R.)

Translation: AURA REE