ROME - Italy's top two banks, Intesa Sanpaolo and UniCredit, as well as the local arm of France's Credit Agricole on Friday pledged to help customers in the Marche region, which was hit overnight by deadly flash floods.
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Torrential rains in the central Italian region killed at least nine people, while four were missing as of Friday afternoon.
Intesa Sanpaolo said it had earmarked 200 million euros ($200 million) to provide immediate financial support to households and businesses damaged by the floods, offering also a 12-month moratorium on principal loan repayments.
UniCredit said it would suspend for a year capital reimbursements on loans to customers based in the flood-stricken areas, while Credit Agricole Italia promised loans on more favourable terms and fast-track procedures for their approval.
In the worst-hit areas, around 400 millimetres (16 inches) of rain fell within two to three hours, a third of the normal rainfall in the course of a year, turning streets into rivers of mud that engulfed homes and shops. ($1 = 0.9974 euros)