Wednesday’s Spanish graph: late payments rate will approach 9.8pc by 2013

From Renta 4 analysts, a confirmation that late payments rate was 7.91pc in January, the maximum level seen by the Spanish financial sector since December 1994. And it was 8pc for the depositary entities. The increase in both cases has been the highest since February 2009, but the experts said today that they discard further acceleration.

“During the next months, the situation should be stable and late payments rate is expected to behave in a similar way than in 2011. The figure would go up to 9.8pc at most, so our estimations over its impact on the banking sector is neutral.”

About the Author

Victor Jimenez
London contributor at thecorner.eu, reporting about the City and the Eurozone economies. He regularly writes for Spanish newspaper group Prensa Ibérica--some of his features include shared work with journalists of The Daily Telegraph and the BBC.

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