The net wealth of Italian
families is falling under the pressure of the ongoing economic
crisis, losing 1.2% on average in 2013 compared with 2012, the
Bank of Italy said Tuesday in a new report.
It said that as of the end of 2013, the net wealth of
Italian families amounted to 8.728 billion euros, or an average
of about 144,000 euros per individual or 356,000 euros per
household.
Meanwhile, in a separate report the Italian Banking
Association (ABI) said that for first time in 30 months of
steady declines, lending to households and business stopped
dropping in November.
The Abi found that last month there was no reported change
in the level of bank lending, following a drop of 0.7% in
October.
Meanwhile, the central bank said that the value of real
assets held by Italian families fell by 3.5% at the end of 2013,
likely due to a fall in the value of homes, which dropped by
5.1% over the year.
That loss was only partly offset by an increase in
financial assets of 2.1% and a reduction of 1.1% in liabilities,
said the report.
Bank of Italy said that the trend has not been stopped in
the course of 2014.
It said its preliminary estimates show that in the first
six months of this year, the net wealth of Italian families fell
by 1.2% in nominal terms compared with December 2013.
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