The Italian banking system has undergone profound transformation during the past ten years. Following deregulation and the state's partial withdrawal from banking business, groups of banks with strong earnings power have emerged from the previously separate sectors of the Italian banking industry. Larger units and keener competition have led to a wider range of banking products geared to customers' needs and a growing number of branches.
In recent years, Italy's banking market has proved remarkably dynamic in both the organisational structure of banks and the range of products and services on offer. The internationalisation of production systems and globalisation have, in addition, triggered a streamlining process within the Italian financial sector marked by rapid changes in shareholdings and a sharp drop in the number of independent banks.
© Graham Bishop
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