Bad loans at national banks fell to the lowest level in six years in 2004 as the economy grew and lenders improved their ability to judge risk, the Office of the Comptroller of the Currency said on Friday.
The portion of loans 90 days or more past due at national banks was 0.97 percent as of Sept. 30, 2004, matching the rate in 1998 and the lowest in the 20 years the agency has gathered those statistics, the office said.
“Credit quality right now is probably as good as it gets,” said Nancy Wentzler, deputy comptroller for global banking and financial analysis.
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