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Bad loans at Italy's banks rose to almost 142 billion euros in August
October 15, 2013 / 1:26 PM / 4 years ago

Bad loans at Italy's banks rose to almost 142 billion euros in August

MILAN (Reuters) - Bad loans at Italian banks rose again in August, nearing 142 billion euros, data showed on Tuesday, as the country’s lenders continued to suffer from the fallout of Italy’s longest recession since World War II.

Figures from the Italian banking association ABI showed gross non-performing loans stood at 141.8 billion euros in August, up from 139.9 billion euros a month earlier.

In September banks’ loans for households and businesses fell for the 17th consecutive month, but at a slower pace than in August.

Loans decreased 2.9 percent in September on an annual basis after a drop of 3.5 percent a month earlier.

Deposits rose 4.2 percent in September from a year earlier.

Non-performing loans accounted for 7.3 percent of total loans in August, up from 5.9 percent one year ago, ABI said. The ratio stood at 13.1 percent for small businesses.

Reporting by Francesca Landini

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