Spanish Banks' Bad Loan Ratio At Record 11.38 Pct

MADRID (AP) â¿¿ Spain's central bank says the level of bad debt in the country's banks rose to a new record 11.38 percent in November, up from 11.23 percent in October.

In data released Friday, the bank said non-performing loans totaled ⿬191.63 billion ($256.17 billion) in November, up by ⿬2.01 billion from the previous month.

It was the 17th monthly increase in a row.

With 25 percent unemployment, Spain is battling to emerge from its second recession in just over three years.

Many banks were badly hit by the country's property market collapse in 2008. Spain last month received ⿬40 billion from a ⿬100 billion credit line earmarked for its troubled banks by the other 16 European Union countries that use the euro.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More from Opinion

Trump Blinks on China Trade War That's Looking Harder to Win

Trump Blinks on China Trade War That's Looking Harder to Win

Monday Madness: GE, China, and Micron

Monday Madness: GE, China, and Micron

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

How Technology Will Unleash the Legal Marijuana Industry's Growth Potential

How Technology Will Unleash the Legal Marijuana Industry's Growth Potential

Apple Buys Tesla? Amazon Buys Sears? 3 Dream Mergers That Just Make Sense

Apple Buys Tesla? Amazon Buys Sears? 3 Dream Mergers That Just Make Sense