Loans Down 1% in January Amid Growth Slowdown, Reports ABI

Rome: Italian banking association ABI stated in its monthly report on Monday that the recent deceleration in Italy’s economic growth is “helping to depress demand for loans.” Loans to businesses and households showed a decline of 1% in January when compared to the same month in the previous year.

According to Ansa News Agency, ABI noted that the average interest rate applied by banks to new mortgages continued its downward trajectory last month, decreasing to 3.09% from 3.11% in the preceding month. This trend follows a significant drop from 4.42% in December 2023.