Rome

Italian bad loans reach record of 133 bn euros in April

Financing for families, firms shrinks for 13th month in a row

Italian bad loans reach record of 133 bn euros in April

Rome, June 18 - The value of bad loans in recession-hit Italy reached record levels in April, as gross non-performing loans surpassed 133 billion euros, banking association ABI revealed on Tuesday. The April figure is two billion euros more than in March, and up 22.3% on the year. Net non-performing loans reached 66.4 billion euros in April, a 2.2 billion increase over the month before and a 32.9% rise since April 2012, the association said. ABI also warned that loan risk remained high. Meanwhile, bank loans were down for the 13th consecutive month. Financing for household and non-financial businesses fell to 1.455 trillion euros in May, down 3.1% from April. Total loans, including those to financial companies, slid for the tenth month in a row to 1.893 trillion, losing 2.2% on the month.

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