Bank credit was down in April, the
Bank of Italy said Tuesday.
Loans to the private sector contracted 1.4% on a yearly
basis, the same as in March. Loans to families dropped by 0.2%
(-0.3% in the previous month), while credit to non-financial
firms dropped by 2.2%, the central bank said.
Rates on new loans of up to one million euros to
non-financial businesses equaled 3.13% (down from 3.09% in
March), with new loans of over one million costing 1.78%
(against 1.77% in March).
As far as the private sector, April home mortgage interest
rates equaled 2.86% (down from 2.95% in March).
As well, the central bank said credit institutions saw their
the number of their defaulting accounts drop slightly, to 14.8%
in April from 14.9% in March.
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