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Italian banks have 39% coverage rate for deteriorated credit

Bank of Italy governor says lower than EU average

30 October, 13:28
Italian banks have 39% coverage rate for deteriorated credit (ANSA) - Rome, October 30 - Italian banks have slightly less coverage for deteriorated credit than the European average, Bank of Italy Governor Ignazio Visco said on Wednesday.

Visco reported that the coverage rate for Italian banks was 39% overall, and 41% for the country's five largest banking groups.

The European average is 43%. Visco noted, however, that Italian reporting standards for deteriorated credit are more rigorous than in other European countries.

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