October 10, 2018 / 9:00 AM / 2 months ago

Italian banks' cost of lending rose slightly in August - BoI

MILAN, Oct 10 (Reuters) - Italian banks charged slightly higher rates to lend to families and companies in August, data showed on Wednesday, in a sign that market turmoil is seeping through to the real economy.

The Bank of Italy said banks based in the country charged on average 1.55 percent on loans to non-financial companies in August, up from 1.48 percent in July. The average rate on house mortgages edged up to 2.21 percent from 2.15 percent.

Loan volumes remained broadly stable from the previous months and so did deposits by Italian residents.

Italian banks have been hit by a sell-off of Italian assets driven by investor concerns over the new anti-establishment government’s plan to ramp up spending and expand the budget deficit. (Reporting by Valentina Za Editing by Mark Bendeich)

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