Italy banks cut loans to business, bad debts up
MILAN Jan 10 (Reuters) - Private sector deposits held at Italian banks rose again in November but loans to businesses continued to decline, Bank of Italy data showed on Thursday.
Data from the central bank showed that private sector deposits rose 6.6 percent in November from a year earlier, after an increase of 4.7 percent in October.
Lenders however did not pour that money back into the economy, and loans to non-financial firms fell 3.4 percent - the seventh consecutive monthly decline.
Bad loans, a major concern for investors, rose by 16.7 percent from a year earlier. (Reporting By Silvia Aloisi; editing by Danilo Masoni)
- White House reverses, says Obama met uncle and lived with him during law school
- Flights delayed as air pollution hits record in Shanghai
- South Africa mourns Mandela, will bury him on December 15 |
- Analysis: Boeing bidders dangle goodies to win 777X jetliner
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image