Spanish banks reduce €114 billion in NPL in 5 years

Spanish Banks have reduced over €114 billion in Non-Performing Loans (NPL) since the peak of December 2013, reflecting a decrease of 60.2% in the NPL amount, says the November’s Financial Stability Report released by the Central Bank of Spain.

The monetary authoroty chaired by Pablo Hernandez de Cos considers that the positive evolution of the Economy over the last year, associated with the active management of distressed assets by financial entities and the supervision’s pressure are the causes of such a positive improvement.

Over the last 12 months alone, the amount of NPL has fallen €24,7 billion, with the stock hitting €74,8 billion as of June 2018. The most recent sales of NPL portfolios have involved Banks such as Sabadell, Caixa Bank, BBVA or Santander.

Original Story: Europa Press
Photo: Banco de España
Translation and Edition: Prime Yield