MILAN- Client deposits at Italian banks rose 8.2% in May to a fresh record high showing savers continue to prefer to hoard cash even as the healthcare emergency slowly recedes, Italian banking lobby ABI said on Tuesday.
In its monthly report ABI said that household and corporate deposits rose by 135 billion euros year-on-year in May to 1,774.6 billion euros ($2.15 trillion).
Data for May also showed that loans to households and businesses rose 4.4% on a yearly basis, in line with the increase recorded the previous month. ($1 = 0.8264 euros) ($1 = 0.8245 euros)
(Reporting by Stefano Bernabei; writing by Andrea Mandalà; editing by Valentina Za) ((email@example.com; +390680307738;))