The figures for Non-Performing Loans (NPL) has fallen more than 60% from the highs observed in 2013 in Spain.

According to the latest figures published by the Bank of Spain, the level of non-performing loans (NPL) fell to 6.08% in October, 1.7 points lower than in September and far bellow the 8.41% recorded a year ago.

These figures represent a new low in the level of NPL in recent years. The fall has been more intense in the absolute figures of non-performing loans, accelerating its annual rhythm of descent to 28.4%.

In October a rhythm of decent was maintained in the balance of credit, with an annual fall of 3%, explained by the continuing efforts of households to reduce debt and the efforts of the banks to reduce the non-performing assets inherited from the crisis.

However, new credit grew in October at an annual rate of 12%.

Original Story: The Corner |  J.L.N Campuzano
Photo: Banco de España
Edition: Prime Yield