Milano

Italy dud loans portfolio rises to 63.9 billion euros

ABI warns of likely increases but says no cause 'yet' for alarm

Italy dud loans portfolio rises to 63.9 billion euros

Milano, March 19 - The continuing economic crisis is weighing increasingly on banks' loan books, according to a monthly study by Italy's banking association ABI. According to ABI, the total net value of dud loans on banks' books in January reached some 63.9 billion euros, equivalent to 3.4% of total bank lending activity in the period. ABI said the figure was the same as recorded in December 2012 but it was up from 2.6% in January of last year. ABI said that while it expected in increase in dud loans, the industry was still "far away from the peaks of the 1990s" and there was "no alarm yet".

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