Italian banks' loans to the private sector continued to grow in May, but the pace of the increase slowed due to the economic recession, banking association ABI said Wednesday.

In a statement, ABI said bank loans to Italian households and companies grew an annual 2.3% in May, compared with annual increases of 2.5% in April and of 8.2% in May 2008.

Loans to families and non-financial companies rose 2.9% in May, compared with an annual increase of 3.4% in April and of 9.2% in May 2008.

-By Luca Di Leo, Dow Jones Newswires; +39 06 697 66921; luca.dileo@dowjones.com
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