According to the data revealed by the Banks of Spain, their bad loans has been increased to almost 2 billion euros (US$ 2.80 billion) to a 14-years high in the month of February as economic crisis disturbed borrowers struggled to service debts.

Further, the Non-performing loans (NPL) increased to 5.3 percent of total non- credit card debt at Spains' banks and some of the financial institutions in the month of February this year, from 5.2 percent in January, whilst total lending has surged slightly to 1.76 trillion euros.

Moreover, NPLs were the largest among Spain's regionally-focused savings banks, most exposed to the country's present property crisis, where bad debt has increased to 5.43 percent of total non- credit card lending in February from 5.34 percent in January.