February 11, 2020 / 9:45 AM / 13 days ago

Italian bank lending to businesses shrink 1.9% in December

MILAN, Feb 11 (Reuters) - Italian bank lending to businesses fell further in December, according to central bank data on Tuesday.

Loans to non-financial companies dropped 1.9% on a yearly basis in December, slightly less than a revised 2.0% fall seen in November, the Bank of Italy’s monthly report on banks’ assets and liabilities showed.

The report showed gross bad loans on lenders’ balance sheets were sharply down to 72.36 billion euros ($78.97 billion), the lowest level since August 2010, compared with 80.25 billion euros in November. ($1 = 0.9163 euros) (Reporting by Sabina Suzzi, editing by James Mackenzie)

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