Calano i business loans, but also itaxes on mortgages. These are the indications of the Bank of Italy which also published today its annual survey on current account costs according to which, in 2023, the management cost of traditional accounts decreased compared to 2022, marking the first decrease after seven consecutive increases
Bankitalia: loans to businesses continue to fall
New slowdown in bank lending to non-financial companies. According to the Bank of Italy, in October, Business loans fell by 3,1% annual (-2,4% the previous month). Slight decrease also for the household loans, which decreased by 0,2% annually against the 0,4% reported in September. In general, via Nazionale reports, the loans to the private sector, adjusted on the basis of the harmonised methodology within the ESCB (the European System of Central Banks), fell by 1,1% on an annual basis in October.
Mortgage rates still (slightly) falling
In October also the home mortgage rates offered by banks to families have registered a slight decrease.
Il average APR rate, including additional costs, on mortgages granted in October is indicated at 3,74% from 3,82% in the previous month. rates applied on new loans to businesses have dropped to 4,73% from 4,9% in September. In detail, those on financing to smaller businesses (amounts up to 1 million) stand at 5,21% while those for larger businesses are indicated at 4,42 percent. Slight filing for the Consumer credit: 10,42% on new disbursements from 10,47% in September.
Current account management costs also down
In 2023 Current account management costs traditional type was equal to 100,7 euros, 3,3 euros less than in 2022: it is the first decrease after seven consecutive increases. This was reported by the Bank of Italy in its annual survey on current account costs.
"The decrease - explains Bankitalia - is attributable for 80% to fixed costs and for the remainder to variable costs. The decrease in fixed costs is linked to lower fees, that of variable costs to lower operations". Both commissions on payments and those on cash withdrawals remained almost unchanged.
Moving forward with the data, the online account management fee, not attributable to bank branches, fell by 4,8 euros, settling at 28,9 euros; the decline was mainly due to the lower proportion of customers subject to the payment of the basic fee.
La postal account management costs instead it grew for the second year, going from 59,6 to 67,3 euros. The increase, explains the Bank of Italy, is largely attributable to variable expenses, which grew by 6,5 euros due to a general increase in operations.
La weighted average expenditure for the three typologies of current account stands at 87,8 euros. "For accounts linked to current account credit opening contracts, the commission for making funds available was equal to 1,7 percent of the credit granted, as in the previous year. The average commission for fast processing applied on overdrafts decreased from 16,4 to 13,7 euros", concludes the study.
