The growth in credit intermediation of cooperative banks continued, with an increase in loans of 1,4% and deposits of 5,3% in August compared to a year earlier. In the first eight months of 2017, the flow of new loans to SMEs was over 19 billion euros: a value 200 million euros higher than in the same period of the previous year. Also for new home purchase mortgages, the value for customers exceeded 10 billion euros in the period January-August 2017, showing an increase of 25% on the previous year.
"Once again - declares the Secretary General of the National Association of Cooperative Banks, Giuseppe De Lucia Lumeno - the examination of the quantitative information on the activity of the Cooperative banks demonstrates an excellent response in accompanying the territories and communities along that path recovery which, after years of prolonged economic and financial crisis, seems to be consolidating. A further and positive strengthening for the entrepreneurial fabric, in an increasingly demanding context, called to support demanding challenges both in terms of restructuring production processes and in terms of capital strengthening".
