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Italian banks NPLs drop to 8-year low

Italian banks' net nonperforming debt dropped to the lowest level since December 2010, reaching €41.28 billion in June, Reuters reported Aug. 9, citing Bank of Italy data.

The value was €49.33 billion in May, according to the report. The country's banks cut their gross bad loans to €131.75 billion in June from €163.15 billion in May, the lowest level since March 2013.

Deposits increased 6.8% in June on a yearly basis, a rising rate compared to 5.7% in May, the newswire added.