Italian Banking Update

MILAN (Reuters) – Italian residents’ deposits with domestic banks rose for the sixth consecutive month in November, increasing at a faster pace. Meanwhile, bank lending to businesses fell for the 22nd straight month, according to the Bank of Italy.

Residents’ deposits with domestic banks grew by 4.4% year-on-year in November, following a 2.5% rise in October, as indicated by central bank data.

Conversely, bank loans to businesses decreased by 3.6% year-on-year, marking a decline from October’s 3.1% decrease.

Furthermore, banks raised their bond issuance, although at a slower rate than the prior month. Sales increased by 7.2% year-on-year in November, down from a 9.6% rise in October, slightly revised.