March 10, 2020 / 10:57 AM / 20 days ago

Italian bank lending to businesses shrinks at a lower pace in January

MILAN, March 10 (Reuters) - Italian bank lending to businesses fell at a slower pace in January, central bank data showed on Tuesday.

Loans to non-financial companies dropped 1.0% on a yearly basis in January, less than a 1.9% fall seen in December, the Bank of Italy’s monthly report on banks’ assets and liabilities showed.

The report showed gross bad loans on lenders’ balance sheets were down to 71.95 billion euros ($81.57 billion) compared with 72.39 billion euros in December. ($1 = 0.8821 euros) (Reporting by Sara Rossi, editing by Agnieszka Flak)

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