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Italian bank lending to firms rises in May

Reuters
·1-min read

MILAN (Reuters) - Italian bank lending to businesses rose in May compared to the previous month, data from the Bank of Italy showed on Monday.

A monthly report on the balance sheets of domestic banks showed loans to non-financial companies increased by 2.3% year-on-year in May from a 1.8% rise in April.

The data also showed Italian residents' deposits with domestic banks were down to 2.85 trillion euros ($2.88 trillion)from 2.86 trillion euros in the previous month.

Gross unpaid loans ticked down to 36.82 billion euros at the end of May from 37.49 billion euros a month earlier.

($1 = 0.9880 euros)

(Reporting by Sara Rossi, editing by Giulia Segreti)