Italian residents’ deposits down again in February

MILAN, April 12 (Reuters) – Italian residents’ deposits with domestic banks were down again in February, touching an over two-year low, at 2.64 trillion euros ($2.88 trillion) compared with 2.66 trillion in January, data from the Bank of Italy showed on Wednesday.

The decline is the fourth in a row on a monthly basis and it mirrors a wider trend in the euro zone even before banking turmoil in March.

On a yearly basis, Italian residents’ deposits with domestic banks fell 2.4% in February after a 1.8% decline in January, central bank data showed.

($1 = 0.9154 euros)