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Bank loans in Italy down 1.3% in February

Number of people failing to make loan payments increases

09 April, 13:00
Bank loans in Italy down 1.3% in February (ANSA) - Rome, April 9 - The Bank of Italy said Tuesday that the number of bank loans granted in February was 1.3% down on the same month in 2011.

It is an alarming sign as attempts to pull the Italian economy out of its longest recession in 20 years will be hampered if households and businesses have trouble obtaining credit.

It said loans to non-financial companies were down 2.6% in February compared to the same month in 2011 and down 0.7% for households. It added that the percentage of bank loans in which clients failed to meet repayments increased to 18.6% in the 12 months up to January, compared to 17.5% in January.

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