Rome

Loan fall-off sharpens to households and businesses

1.6% down in Jan after 0.9% Dec fall

Loan fall-off sharpens to households and businesses

Rome, March 8 - A fall-off in bank loans to households and businesses is sharpening, the Bank of Italy said Friday. In January loans fell 1.6% on an annual basis, compared to 0.9% in December, the central bank said. Loans to households were down 0.6% over the year to January, compared to 0.5% in December and loans to non-financial companies off 2.8% compared ton 2.2% the previous month. Bad loans continued to rise, showing a 17.5% hike in January but deposits continued to swell, growing 7.7%. photo: Bank of Italy chief Ignazio Visco

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