September 10, 2019 / 8:53 AM / 9 days ago

Italian bank corporate loans down 0.4% in July

MILAN, Sept 10 (Reuters) - Italian banks’ lending to companies fell in July while their domestic government bond portfolio rose, according to central bank data released on Tuesday.

Corporate loans were down 0.4% year-on-year in July, after falling a revised 0.7% the previous month.

Bank holdings of Italian government bonds rose to 401.3 billion euros ($443.1 billion) from the 389.97 billion euros seen last month.

Bad loans before writedowns were down in July at 88.24 billion euros while net of writedowns, bad loans stood at 32.07 billion euros from a previous 31.83 billion euros. ($1 = 0.9057 euros) (Writing by Stephen Jewkes)

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