The Bank of Spain reported last week that, as of June 30, the non-performing loan ratio for credit to other resident sectors had fallen for the fifth consecutive month, reaching 9.44%, the lowest level since June 2012. This is undoubtedly good news; however, of course, we would all like the economic recovery—and with it the decline in banking non-performing loans—to be happening more quickly and more strongly, but the country’s economic reality is what it is.
