Rome

Loans down a record 3% in January

Recession spells tighter lending to households and businesses

Loans down a record 3% in January

Rome, February 19 - Loans to Italian households and businesses fell by a record 3% in January after dropping 2.5% in December, the Italian Banking Association (ABI) said Tuesday. Italian banks loaned 1.467 trillion euros, ABI said, blaming the recession. Mortgage lending posted a 0.6% fall in 2012, ABI said.

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