Loans, the sprint of companies continues: +4.2% in August

The sprint in loans continues, especially those to businesses which grew by 4.2% in August (against +4.1% in July). This is what emerges from the statistics of the Bank of Italy Banca e Moneta.

In August, total loans increased by 3.7 percent over the twelve months (3.5 in the previous month). Loans to families increased by 2.9 percent (2.6 in the previous month). Private sector deposits increased by 1.8 percent (2.4 in the previous month). Bond funding increased by 5.9 percent (5.6 in the previous month)

In August the Annual Effective Rate (APR) on new loans to families for the purchase of homes stood at 3.99 percent (3.81 in the previous month); the share of these loans with an initial rate fixation period of up to 1 year was 23.9 percent (29.0 in the previous month). The APR on new consumer credit disbursements stood at 10.78 percent (10.38 in the previous month).

The interest rates on new loans to non-financial companies were equal to 3.71 percent (3.79 in the previous month), those for amounts up to 1 million euros were equal to 4.40 percent, while the rates on new loans for amounts exceeding this threshold stood at 3.30 percent. The interest rates on all outstanding deposits were 0.69 percent (as in the previous month).