March 20, 2012 / 9:13 AM / 6 years ago

Spain banks' bad loans data hits highest since Aug. 1994

MADRID, March 20 (Reuters) - Spanish banks’ bad loans rose to 7.9 percent of their outstanding portfolios in January, up from 7.61 percent, and the highest since August 1994, Bank of Spain data showed on Tuesday.

Loans that fell into arrears incteased by 4.2 billion euros to 140 billion euros in January.

Outstanding debt have continued to climb as the country slides back into recession and the economy is held back by the highest unemployment rate in the European Union.

Reporting by Robert Hetz; Writing by Nigel Davies

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