Milan

Bank loans to Italian industries down 12.4%

Automotive worst hit, credit falls 20%, study finds

Bank loans to Italian industries down 12.4%

Milan, August 19 - Bank loans in Italian industries have fallen 12.4% since the beginning of Italy's financial crisis, a bank study revealed on Monday. The severity of the credit crunch ranges from a 20% contraction in the automotive industry to 1.6% for the food sector, but largely spared high innovation and export industries, according to research by the Banca Popolare di Vicenza. The bank found credit risk for all industry sectors increased by a total of 12.5%.

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