Italy’s Bank Deposits Fell in October at Fastest Pace Since June

Deposits at Italian lenders declined in October at the fastest pace in five months, the country’s central bank said today.

Deposits by households and companies excluding banks fell by an annual 0.6 percent, the most since June when they decreased 0.8 percent, the Rome-based central bank said in an e- mailed statement. Deposits rose an annual 0.2 percent in September. The decline in October was mostly due to “non- financial companies,” according to the statement.

Lending to households rose an annual 4.3 percent, down from 4.5 percent the previous month, the report said. Loans to the private sector including consumers and companies, and excluding banks, increased 4.2 percent from 4 percent in September.

To contact the reporter on this story: Lorenzo Totaro in Rome at ltotaro@bloomberg.net

To contact the editors responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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