Italy sees sixth consecutive month of deposit growth

Italian residents’ deposits with domestic banks rose for the sixth consecutive month in November, increasing by 4.4 per cent year-on-year, up from 2.5 per cent in October, according to the Bank of Italy.

However, bank lending to businesses continued to decline, falling 3.6 per cent year-on-year, marking the 22nd consecutive month of reductions.

Additionally, while banks increased bond issuance, the growth was slower than in the previous month, with bond sales up 7.2 per cent in November compared to 9.6 per cent in October.

Attribution: Reuters

Subediting: Y.Yasser