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Italy's non-performing loans hit levels not seen in 15 years

Banking association says 145 bn euros in debt won't be repaid

18 February, 16:15
Italy's non-performing loans hit levels not seen in 15 years (ANSA) - Rome, February 18 - Non-performing loans in Italy have hit their highest levels in almost 15 years, the country's banking association said Tuesday.

Net non-performing loans in December reached 156 billion euros, or about 8.1% - a level not seen since May 1999 when the ratio was 8.37%, according to a report from ABI.

Those figures were similar to an earlier report last week by Italy's central bank on non-performing loans, which describes a situation where repayments have stalled and look unlikely to resume.

Meanwhile, ABI also reported that deposits in Italian banks have been falling, likely worsening due to lower interest rates paid by financial institutions.

In January 2014, deposits totaled almost 1.72 trillion euros, a decrease of 1.9% compared with one year earlier.

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