Green shoots seen in Italian economy, bank lending rises in June 2020

On Monday, data released from Italy’s central bank showed, in June 2020, Italian banks had increased their lending to companies with business resuming after the Italian government gradually lifted a national lockdown to mitigate health risks from the Wuhan coronavirus.

A monthly Bank of Italy report on domestic banks’ balance sheets showed that loans to non-financial companies were up 3.7% year-on-year, nearly double the 1.9% rise that was seen in the previous month.

Gross unpaid loans were down to $79.98 billion (68.05 billion euros) at the end of June against 71.21 billion euros in the previous month.

Deposit with domestic banks kept rose and touched 2.64 trillion euros. Holding of government bonds by banks was at 434.3 billion euros, compared to 419.3 billion euros in May.

Categories: Creativity, Economy & Finance, Entrepreneurship, Strategy

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