The Bank of Spain has set an official percentage today for the trend that the banks had already been announcing in their latest results presentations: delinquency is at the lowest levels since the 2008 crisis and, in the case of some entity such as CaixaBank, is at historical lows.
The official rate at the end of September is 3.79%, according to data published by the Bank of Spain. It is lower than the 3.86% of August, but, above all, it is consolidated below the 4% with which the year began. In the worst years of the previous crisis it did not fall below 10% and in 2015 it reached a maximum of 12%.
The data is good news that demonstrates the high level of compliance of Spanish customers with their debts, at a time when inflation and rate hikes are going to put domestic economies to the test.
The Government has closed precisely this week an agreement with the banks to lighten the rises in the Euribor on mortgages. The pact contemplates measures to cover nearly one million mortgages, which is equivalent to almost one in four of those subscribed at a variable rate.
Part of the decline in bank arrears is due to the fact that banks have been able to get rid of bad loan portfolios in recent months.
