March 14, 2012 / 11:58 AM / 6 years ago

Unicredit CEO says bank credit picking up in Q1

ROME, March 14 (Reuters) - Unicredit Chief Executive Federico Ghizzoni said on Wednesday that there were signs that banks were offering more credit in the first quarter, but little of this was being used by firms for investment.

Speaking on the margins of a conference in Rome, Ghizzoni also renewed attacks by banks on a government plan to eliminate commission charges on credit lines, saying the proposal was “absurd” and would have a extremely damaging impact on banks.

“It seems that the demad for credit is gradually returning in January-March and banks are responding more,” Ghizzoni told reporters.

“Demand for credit for investment is still lacking,” he added, saying requests for loans were almost exclusively for cash management purposes. (Reporting by Stefano Bernabei, writing by Gavin Jones)

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