Abi: historic low lending rates in August, at 2.19%


ROME, SEPTEMBER 14 – New record low for bank lending rates. According to the monthly ABI report, in August 2021 the average rate on total loans was 2.19% compared to 6.18% before the crisis, at the end of 2007. The average rate on new financing operations at enterprises, the banking association points out, is 1.08% (1.05% the previous month; 5.48% at the end of 2007). The average rate on new home purchase transactions rose slightly to 1.47% (1.40% in July 2021, 5.72% at the end of 2007). And the growth of bank deposits slows down in Italy and Europe, which in recent months, thanks to the lockdowns for Covid, had reached high levels, resulting in a sort of ‘forced saving’. After the peak of + 11.6% in January, in August there was a + 7.7%, thus returning to the level of growth of a year ago. In absolute terms, deposits amounted to 1,799 billion. The increase in loans to households and non-financial companies continues, albeit at a slower pace (+ 2.3% against 2.7% in the previous month. (ANSA).
(HANDLE)




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