PwC: European banks have 1000 billion euro in poor loans
By the end of the year 2011, European banks had a record amount of over €1000 billion in poor loans registered in their book keeping system. This is a growth of over 10% compared to a year earlier and even a doubling when compared to 2008. This is concluded by the account and consulting firm PwC.
Especially at banks in problem countries like Spain, Italy and Greece, loans that probably will never be paid back are still increasing. For Spain this amount increased to €136 billion, for Italy to €107 billion and for Greece to €40 billion. With German banks it is about €196 billion in poor loans. That is just as much as in 2010. Also in the Netherlands this amount remained unchanged at €52 billion. The digits are determined based on data of banks, local banks, supervisors and own analysis, according to PwC.
