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German banks have more bad loans than any other European country. The study by PriceWaterhouseCoopers also says the secondary market for non-performing loans is still immature.
At the end of 2009, German banks carried NPLs with a nominal value of more than 210 billion euros on their balance sheets. That's 50 percent more than a year earlier.
British banks saw their NPLs jump by nearly 45 percent to 155 billion euros last year. And Spanish banks and Italian lenders have seen their NPLs rise 28 and 40 percent respectively.