July 9, 2020 / 9:14 AM / a month ago

Domestic bond, gross bad loan holdings at Italy banks rise in May

MILAN, July 9 (Reuters) - Italian banks’ increased their holdings of both domestic government bonds and gross bad loans in May, amid the gradual end of a government-imposed lockdown in the country, data showed on Thursday.

A monthly Bank of Italy report on domestic banks’ balance sheets showed that gross unpaid loans edged up to 71.21 billion euros at the end of May versus 71.08 billion euros a month earlier.

Italian banks had been steadily reducing defaulted loans left behind by past recessions.

Holdings of domestic government bonds rose to 434.1 billion euros in May from 419.3 billion euros in April. (Reporting by Sara Rossi editing by Giulia Segreti)

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