In times of crisis, recourse to banks becomes more frequent. Loans from Italian credit institutions to individuals increased by 4,6% in June, after +4,4% in May. This was communicated by the Bank of Italy, which underlines how the average growth rate of credit to households was 5% on an annual basis, this time down from the 5,2% recorded the previous month. The data relating to non-financial companies instead rose to 5,1% against 5% in May.
Below are the other data disclosed by Bank of Italy for the month of June:
APR +3,44%, CONSUMER CREDIT +9,14%
The interest rates applied by banks on loans to businesses and households also increased in June. “The rates on loans to companies disbursed in the month increased by 21 basis points, to 3,17 per cent – reads a Bank of Italy report – to a slightly more contained extent than the official rates. Also in June, the interest rates on loans disbursed to producer households increased slightly (to 4,56 per cent from 4,48 per cent in May). The rates on new disbursements including charges and ancillary expenses (Taeg) for the purchase of a house and consumer credit increased by 6 basis points (to 3,44 per cent) and 11 basis points (to 9,14 per cent) respectively hundred). Passive rates on outstanding deposits rose to 0,88 per cent from 0,86 per cent in the previous period”.
BANKING LOANS DOWN FROM 24,8 TO 23,4% BETWEEN MAY AND JUNE
“The annual growth rate of non-performing loans – not adjusted for securitizations but taking into account statistical discontinuities – continued to decline, falling to 23,4 per cent from 24,8 per cent in the previous period”.
DEPOSIT COLLECTION DOWN BY 1%
“The annual growth rate of private sector deposits recorded a negative change of -1 per cent, a lower value than the -1,5 per cent recorded last month. The annual growth rate of bond funding continues to grow, reaching 4,6 per cent compared to 4,2 per cent in May”.
