Bad loans held by Italian banks
jumped by 20% in August compared with the same time last year,
the Bank of Italy reported Thursday.
That was slightly better than the annual figures for July,
which showed a growth of 20.5% in bad loans compared with the
same period in 2013, the central bank said.
It also reported that lending to the private sector had
declined in August, with loans to households down by 0.8%
compared with the same time last year and non-bank commercial
lending down by 3.8% on an annual basis.
In July, household lending had fallen by 0.7% compared with
last year and commercial loans were down by 3.9% compared with
July 2013.
Italy is mired in its third recession since 2008, leading
to rising bankruptcies, unemployment, and threats of lingering
deflation.
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