June 9, 2014 / 8:47 AM / 3 years ago

Bad loans at Italian banks rise to 166.4 bln euros in April

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MILAN, June 9 (Reuters) - Bad loans at Italian banks increased to 166.4 billion euros ($227 billion) in April, up nearly 2 billion euros from a month earlier, in a sign of the still-rising toll from a two-year economic recession on bank balance sheets.

Central bank data showed on Monday that bad loans were up 22.3 percent year-on-year in April after a 23.0 percent rise in March.

Italian banks cut lending to companies by 4.4 percent in April, broadly in line with the previous month, the Bank of Italy said. ($1 = 0.7345 Euros) (Reporting by Valentina Za)

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