Unimpresa reveals that in 2024 nearly one-third of corporate funds are abroad. Bank loans fall while deposits and investments increase
Italian firms bet on foreign assets
In 2024, Italian companies reached a total of €2.612.9 billion in financial assets, up by nearly €40 billion from the previous year. According to Unimpresa’s Research Center, the share of funds held abroad remains stable at 27%, signaling a steady international diversification strategy.
The main drivers of growth were bank deposits (+€14.8 billion), securities (+€14.9 billion), and shares and equity holdings (+€12.7 billion). In contrast, trade receivables declined by €3.7 billion, hinting at either lower sales volumes or more efficient collection strategies.
Less bank debt, more trust in capital markets
On the liabilities side, total debt reached €5.012.6 billion, slightly up from 2023 (+€3.1 billion). A notable highlight is the €16.3 billion drop in bank loans, now below the €600 billion threshold.
Instead, companies turned more to capital markets, with corporate bond issuance increasing by €16.7 billion and equity-based liabilities by €25.8 billion. This reflects a shift away from traditional bank financing, especially among SMEs, in favor of more direct fundraising options.
Net balance improves but remains negative
The overall net financial position remains in the red at –€2.399.8 billion, but improved by €36.4 billion compared to 2023. This result is due to the rise in financial assets, particularly liquid investments and foreign holdings, while liabilities stayed mostly flat.
Spadafora (Unimpresa): “We need a better environment to grow”
According to Giuseppe Spadafora, Unimpresa’s vice president, “Italian companies are showing resilience and adaptability, but still face major barriers in accessing bank credit. Structural reforms are needed to promote capital strengthening, reduce the cost of financing, and reward those who reinvest profits in their businesses.”
FAQ
1. How much did Italian companies’ financial assets grow in 2024?
By €39.6 billion, reaching €2.612.9 billion.
2. What share of financial assets is held abroad?
27% of the total, equal to around €724 billion.
3. Why are bank loans decreasing?
Due to the growing difficulties in accessing credit, especially for SMEs.
4. What are equity-based liabilities?
Shares issued by companies that represent a liability on their balance sheet.
5. What is the net balance between assets and liabilities?
Negative at €2.399.8 billion, though improved by €36.4 billion.
6. Are companies investing more in securities?
Yes, particularly in Italian government bonds (+€8.2 billion).
7. What does the drop in trade receivables suggest?
Possibly fewer sales or more efficient payment collection.
8. Are companies issuing more bonds?
Yes, increasing from €183.8 billion to €200.5 billion (+9.1%).
9. What is the largest asset class in company finances?
Shares and equity holdings, accounting for 35.7% of total assets.
10. What does Unimpresa propose?
Structural reforms to support growth, ease credit access, and reduce taxation on reinvested profits.