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Loans at risk of default jumps 22%, says bank group

Almost 150 billion euros worth of at-risk loans outstanding

21 January, 16:06
Loans at risk of default jumps 22%, says bank group (ANSA) - Rome, January 21 - The value of loans that were in, or close to, default jumped by 22% in November from the same time in 2012, demonstrating the deep impact of the economic crisis Italy has endured, the national banking association (ABI) said Tuesday.

The gross value of these bad loans, where the chance of repayment is low, rose to almost 150 billion euros in November 2013, according to the ABI.

At the same time, the ratio of these bad loans to total loans in Italy was 4.08% in November, up from 3.99% in October and 3.26% in November 2012, said ABI.

The total number of borrowers struggling to repay their loans reached about 1.2 million Italians, with the vast majority - more than one million debtors - owing less than 125,000 euros, the group said.

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