Business & Finance

Bank of Italy says bad loans up 20pc in August

Published October 9, 2014 Updated October 9, 2014 09:20am

MILAN: The Bank of Italy said on Thursday bad loans in the country rose 20 percent year-on-year in August while lending to companies and families continued to contract.

In July, non-performing loans were up 20.5 percent on an annual basis.

Lending to households was down 0.8 percent in August, from down 0.7 percent a month earlier, while credit to non-financial companies fell 3.8 percent after a contraction of 3.9 percent in July.

Copyright Reuters, 2014