The data released by the Bank of Spain shows that with the increase in credit across the industry, the non-performing loans of Spanish banks in January accounted for 13.5% of total loans, slightly down from 13.6% in December last year. This decrease is partly due to the central bank's adjustment of the classification of lenders.
The Bank of Spain stated that some financial companies, such as leasing or loan companies, issue loans but do not accept deposits. Since the rule adjustment on January 1, 2014, these enterprises are no longer classified as credit institutions.
Data shows that total credit in January increased to €1.46 trillion, compared to €1.45 trillion in December last year. Without the aforementioned adjustments, the non-performing loan ratio of Spanish banks in January would have reached a record high of 13.8%.