Premier Matteo Renzi on Wednesday hailed the strength of Italy's banking sector after the government's recent rescue of four small lenders which left some investors with worthless shares and bonds.
"In reality in Italy we have real European champions on the financial-banking market," Renzi said. "We are in a position in Italy to create a success story in every sector, including the banking sector". The Bank of Italy said Wednesday that the number of bank loans to the private sector in Italy rose by 0.6% in November compared to the same month in 2014, the first rise since the middle of 2012. The central bank said loans to households rose by 0.8% whole loans to firms were up 0.2%.
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