GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

$1 Trillion Bad Loan Mountain Casts Shadow Over Europe

The tally puts the combined total of problem loans in the euro zone's largest economies, France and Germany, close to that of Italy's 260 billion euro bad debt pile.

Reuters

Updated:October 13, 2017, 10:49 PM IST
facebookTwittergoogleskypewhatsapp
$1 Trillion Bad Loan Mountain Casts Shadow Over Europe
The euro sign landmark is seen at the headquarters (R) of the European Central Bank (ECB) in Frankfurt. (Reuters)
Frankfurt: German and French banks have together amassed almost 230 billion euros ($272 billion) of bad loans, according to regulators' data, underscoring the scale of a problem often linked solely to Italy that is now causing worry across the region.

The tally puts the combined total of problem loans in the euro zone's largest economies, France and Germany, close to that of Italy's 260 billion euro bad debt pile.

It lays bare the extent of the pan-European problem although it is far easier for banks in France and Germany to cope with because bad debts there account for a smaller proportion of overall credit.

After Italy, which had bad loans of 262 billion euros at the end of March, the biggest pockets of debt not repaid over roughly three months are found consecutively in France, Spain, Greece, Germany and the Netherlands.

France has 160 billion euros, while Spain has 139 billion euros and Germany 69 billion euros.

The picture alters when measuring the proportion of loans that are bad. Greece is worst, where almost one in two loans have not been serviced in three months, according to the European Banking Authority.

In Italy and Ireland, roughly one-eighth of loans are soured, compared with less than 4 percent in France.

The European Central Bank has encountered stiff resistance in the European Parliament not only from Italian but also German lawmakers to its attempts to clean up Europe's $1 trillion bad loans mountain.

It is emerging as the biggest challenge yet to the ECB as banks supervisor.
Read full article
Next Story
facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
SBI 313.30 -5.15 -1.62
ICICI Bank 302.95 -4.65 -1.51
Maruti Suzuki 9,120.65 -10.70 -0.12
Vedanta 283.55 -9.60 -3.27
TCS 2,628.40 +16.25 +0.62
Company Price Change %Gain
HDFC Bank 1,822.00 -2.05 -0.11
Bharti Airtel 516.95 -7.00 -1.34
Shriram Trans 1,366.90 +3.20 +0.23
ITC 259.05 -2.50 -0.96
HDFC 1,697.45 -13.10 -0.77
Top Gainers
Company Price Change %Gain
HPCL 423.35 +8.40 +2.02
IOC 402.20 +7.10 +1.80
BPCL 506.30 +7.35 +1.47
Kotak Mahindra 1,014.90 +14.50 +1.45
UltraTechCement 4,274.35 +51.85 +1.23
Company Price Change %Gain
Kotak Mahindra 1,014.95 +14.35 +1.43
TCS 2,632.00 +17.85 +0.68
ONGC 183.75 +0.80 +0.44
Dr Reddys Labs 2,260.80 +5.20 +0.23
HUL 1,316.55 +1.60 +0.12
Top Losers
Company Price Change %Gain
Vedanta 283.55 -9.60 -3.27
Cipla 578.15 -13.50 -2.28
Adani Ports 394.00 -8.50 -2.11
SBI 313.30 -5.15 -1.62
Bajaj Finance 1,671.80 -27.45 -1.62
Company Price Change %Gain
BHEL 89.55 -2.05 -2.24
Cipla 578.15 -12.60 -2.13
Tata Motors (D) 225.00 -4.85 -2.11
Adani Ports 393.70 -7.90 -1.97
SBI 313.25 -5.15 -1.62

Live TV

File is:/article-scroll-new.php