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Italian banks' net bad loans decline in July, lowest since December 2010

Net bad loans at Italian banks hit their lowest level since December 2010, falling to €40.13 billion in July from €42.76 billion in June, according to Banca D'Italia SpA data cited by Reuters.

The Italian central bank added that gross bad loans sunk to their lowest since January 2013, declining to €127.48 billion in July from €131.74 billion in June.

July deposits at the banks reportedly increased 4.6% on an annual basis, although still lower than the 6.8% increase in June.