The size of bad loans continues to
rise in Italy, reaching nearly 185.5 billion euros in January
compared with 183.7 billion euros in December, the Italian
Banking Association (ABI) said Monday.
It said that the length of time for debt recovery was also
stretching, averaging seven year with a peak of 20 years in
Messina.
Problems with the rising value of bad loans are weighing on
Italian banks and have been blamed for a slowdown in credit from
institutions.
Business failures also continue to increase, according to
the latest data from Cerved, an information consultancy that
focuses on financial services.
It said that a total of 15,651 businesses opened bankruptcy
proceedings in 2014, an increase of 10.7% compared to 2013.
On a regional basis, business failures rose almost
everywhere in Italy by double digits, except in the northeast
where a small increase of 1.7% was reported.
Among the highest rates were found in the central area of
the country, it said.
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