Tag Archives: default

Cajamar: mortgage floor abolished for all, but 15% default of loans…

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Expect higher sneak commissions from Cajamar over the next few months after the rural bank admitted that defaults on loans have soared to 15,10%. The admission comes as Cajamar admits this is impacting its ability to keep offering credit lines to customers. It’s total amount of loans on offer have sunk to 34 billion euros. Although part of the increase is down to new accounting rules from the Bank of Spain (ie, they can’t sweep Continue reading Cajamar: mortgage floor abolished for all, but 15% default of loans…→

Debt default levels at Spanish banks reaching 10%

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In other word, 1 out of every 10 creditor is likely to default. The tasa de morosida at Spanish credit institutions has reached 9.86% in July, breaking the level of 9.42% reached in June, according to the Banco de España. Spanish banks are now holding a bag of bad debts totalling some 170.000 million euros, and the amount available to lend in the system has dropped to 1.71 trillion euros, down from 1.74 trillion in Continue reading Debt default levels at Spanish banks reaching 10%→

Banks face highest levels of default since 1994

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Spain’s banks had 155.84bn euros (£122bn) of loans on their books in May that are at risk of not being repaid, the highest since 1994, according to the Banco de España, meaning that levels of debt are now running at around 9% of all loans. On top of that, the total amount of loans issued by banks is now at historic lows: Spanish banks authorised just 1,74 billion euros of loans in May, a 3.33% Continue reading Banks face highest levels of default since 1994→