Italian financial institution deposits’ progress accelerates additional in November

MILAN (Reuters) – Italian residents’ deposits with home banks rose for the sixth month in a row in November and at a quicker tempo, whereas financial institution lending to companies fell for the twenty second consecutive month, the Financial institution of Italy mentioned on Monday.

Residents’ deposits with home banks elevated 4.4% year-on-year in November after rising 2.5% in October, the central financial institution information confirmed.

Financial institution loans to companies fell 3.6% year-on-year, the central financial institution mentioned, after a 3.1% decline in October.

Banks elevated their bond issuance however lower than within the earlier month, the information additionally confirmed, with gross sales up 7.2% year-on-year in November after a 9.6% rise in October, barely revised.