Bank of Italy sees credit conditions improving
However stock of NPLs is still holding back lending growth
Italian banks' recourse to cheap loans from the European Central Bank (ECB) is "gradually feeding through to credit conditions" in the country, according to the Bank of Italy – though the large volume of non-performing loans (NPLs) in the economy "continues to hold back the growth of lending".
The central bank's latest economic bulletin, published today (July 17), observed the reduction in the cost of loans had extended beyond "the most creditworthy firms" and small and medium-sized enterprises
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