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Financial Services Report Italy

  • ID: 2139130
  • Report
  • Region: Italy
  • 25 Pages
  • The Economist Intelligence Unit
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The euro zone crisis and subsequent recession put severe strain on Italy's domestic banks, which have been under pressure to strengthen their capital bases and regain profitability. A vicious circle of balance sheet deterioration, weak loan demand and subdued economic activity sharply increased the volume of bad loans. A further problem highlighted by the Bank of Italy (the central bank), is the variation in credit recovery processes through courts across the country, which has exacerbated the accumulation of non-performing loans (NPLs).

A process of recapitalising and consolidating Italy's credit institutions is under way, but the substantial burden of NPLs will constrain progress. NPLs made up 8.4% of total loans at end-2018, down from 14.4% a year earlier, according to the Bank of Italy. Although still high, this was around half the peak of 18.2% recorded in September 2015.

The high level of public debt-which The Economist Intelligence Unit expects to remain at around 130% throughout the forecast period (2019-23)-along with the subdued outlook for the economy, and stubbornly high unemployment, will prevent a rapid improvement of financial conditions.

Industry List: Asset management, Financial Services, Banking, Financial Services, Financial markets and instruments, Financial Services, Financial regulation, Financial Services, Financial Services, Financial Services, Insurance
Industry Codes (NAIC): 52
Industry Codes (SIC): 60
Note: Product cover images may vary from those shown
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Financial Services Report Italy

Overview

Banks

Insurers

Asset managers

Financial markets and instruments

Financial regulation
Overview
Regulatory watchlist

Monetary and currency policy: Monetary policy

Monetary and currency policy: Exchange rates

Italy at a glance

Fundamental indicators

Key contacts
Note: Product cover images may vary from those shown
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