The default credit extended by banks, savings banks, credit unions and financial institutions operating in Spain rose again in July to 13.15% versus 13.06% stake in June, according to data published by the Bank of Spain.
The bad loans accumulated in late July amounted to 184,520 million euros, 1,722 million less than in the previous month. However, as the total volume of loans granted by financial institutions to their customers fell by 19,000 million euros from 1.422 billion to 1.403 June July billion, the default rate increased by nine cents.
The default rate has followed an irregular evolution throughout the year: decreased slightly in January, February and March, after 1 January the Bank of Spain introduced a change to incorporate the corresponding total credit to the Financial Institution. Then he went up in April and fell again in May and June. In the last twelve months, the NPL ratio has worsened by almost 1.2 percentage points since July 2013 was at 11.97%. In that period, the volume of bad loans has grown from 5.857 million euros.
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