2023-09-25 11:30:11
Credit delinquency remains at 3.5% in July, the lowest rate since 2008
Madrid, Sep 25 (.).- The delinquency of loans granted by Spanish banks remained at 3.50% in July, which continues to be the lowest rate since December 2008, despite the fact that the balance of Unpaid loans continued to reduce, according to data published this Monday by the Bank of Spain.
Non-performing loans were reduced by 399 million in July alone, to 41,774 million, although the sector’s delinquency did not fall because the credit portfolio contracted to 1,194 billion euros, below the 1,205 billion in February.
Compared to July 2022, credit delinquency has gone from 3.85% then to 3.50% in July 2023 and the balance of doubtful debts has decreased by more than 5,660 million.
In addition to the total data for the sector, the Bank of Spain publishes each month the aggregate delinquency of banks, savings banks and cooperatives (rural savings banks), on the one hand, and, on the other, that of consumer finance companies.
The delinquency rate of banks, savings banks and cooperatives also remained unchanged in July, at 3.39%, which remained at the lowest level since December 2018 despite the fact that the balance of unpaid debts continued to reduce, to 38,733 million.
However, in consumer finance companies, the delinquency ratio rose to 6.43%, from 6.33% in June, with a doubtful volume of 2,861 million, 2 million more than the previous month, and a credit portfolio which dropped to 44,509 million.
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