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Spain bad loan ratio rises to record in June

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Spanish banks' bad loans as a percentage of total credit rose to 11.6 percent in June, the highest level on record, Bank of Spain data showed on Monday.

(Read more: Spain's economy contracts again but could reverse trend)

The ratio was up from 11.2 percent in May and has been steadily increasing since a drop-off at the end of last year when lenders transferred toxic property assets to Spain's so-called bad bank.

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