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Non-performing bank loans in Italy reach 75 billion euros

Bank of Italy governor says amply covered by guarantees

30 October, 13:32
Non-performing bank loans in Italy reach 75 billion euros (ANSA) - Rome, October 30 - Non-performing bank loans in Italy have reached 75 billion euros, taking into account recorded net value adjustments, Bank of Italy Governor Ignazio Visco said on Wednesday.

These bad loans, however, ''are amply covered by the system as a whole by collateral and personal guarantees'', Visco added.

Other net non-performing loans - such as substandard, restructured and expired loans - are expected to have loss rates significantly lower than their total, which is approximately 110 billion euros, Visco said.

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