Bank lending to Italian companies fell year by year by -5.9% in November, at a rate that is the greatest after being honored on statistics 10 years ago, as data showed by the European Central Bank that were published. Although the Italian economy is recovering slowly from the longest recession experienced since the Second World War. Loans to businesses have dropped by -4.9% in October in connection with a month earlier.
However, in a positive development for the savings banks in the private sector rose in November by 0.5% compared to the previous month. In Malta the lending banks to businesses also shrunk by a record, by -10.4% yoy, according to ECB data. However the reduction in lending to businesses in November was higher than any other European country in Spain, where it reached -13.5% compared with a year earlier.
One of the factors that prevent many banks from granting credit to businesses is imminent, later this year, check quality assets which will be conducted by the ECB before assuming the role of supervisor of field.
By Nicole P.