Further decline in March in bank loans to the private sector and the public administration. The monthly ABI report estimates a contraction of 3,21% on an annual basis.
The minus sign in front of jobs has been recorded continuously for 20 months (August 2012). However, the report by the Palazzo Altieri research department underlines a slowdown in the negative trend compared to the peak of last November (-4,51%) and underlines how the amount of loans to customers (approximately 1.850 billion in March) is "significantly higher" to that of direct deposits (1.724 billion in the same month).
Last month, moreover, the average interest rate on loans to households for house purchase settled at 3,43%, the same as in February, the lowest value since September 2011 (when it was 3,42 %). The average rate on new business loans was instead 3,31%, down from 3,48% in February. Finally, the rate on total loans stood at 3,86%, slightly down compared to February (3,89%).
As for bank non-performing loans, the ABI maintains that in February they increased to 162 billion euros, 1,6 billion more than in January. The ratio between gross non-performing loans and loans thus increased to 8,5% (in February last year it was 6,5%). This is the highest level since December 1998.
