MILAN: Bank loans to companies in Italy fell in October for the 30th straight month, as lenders saddled with a huge stock of bad loans are more selective than in the past in lending and the country's stagnating economy depresses corporate investments.
The Bank of Italy said on Wednesday bank loans to non-financial firms fell 3.1 percent from a year earlier in October, after a 3.3 percent fall in September. Bank lending to companies has been contracting since May 2012.
Non-performing loans held by Italian banks rose 19.3 percent in October against a 19.9 percent rise in September. The stock of bad loans totalled 179.26 billion euros ($222 billion) up from 176.86 billion euros a month earlier.
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