December 17, 2019 / 2:01 PM / a month ago

Cost of new loans to firms in Italy hits record low in November

ROME, Dec 17 (Reuters) - The average rate charged on new loans to companies by Italian banks dropped to 1.20% in November from 1.31% in October, hitting a fresh historic low, banking lobby ABI said on Tuesday.

The average interest rate charged on new home mortgages slightly increased to 1.44% in November from 1.40% the previous month.

Deposits with Italian banks grew by over 116 billion euros ($127.86 billion) last month, or 7.9%, compared with November last year.

Italian banks also reported an annual increase in November in their funding through bond issuances, which has grown by roughly 3.5 billion euros ($3.86 billion), or 1.5% year-on-year to 240 billion euros ($264.53 billion).

$1 = 0.9073 euros Reporting by Stefano Bernabei, editing by Crispian Balmer

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