In recent years, mergers and takeovers have increased in order to strengthen and stabilize the banking system. Privatization has also helped to streamline the sector. Investment institutions, both public and private, are becoming increasingly important, with many people turning to investments to supplement their income. Since 1998, the banking system has been almost fully liberalized and most banks offer a wide range of financial services to their customers. Italian families have been traditionally very keen to save money, and, in 1999, the total deposits held in Italian banks amounted to US$450 billion. According to 1999 data, European banks use 53 percent of their available reserves to service individual loans, such as mortgages, with only 46.3 percent directed towards financing private sector businesses. Italy, however, does not conform to this pattern. Italian banks invest 66.7 percent of their resources in private enterprise, while only 18.3 percent is given to private consumers.
Read more: http://www.nationsencyclopedia.com/economies/Europe/Italy.html#ixzz38TbjaUA3
In recent years, mergers and takeovers have increased in order to strengthen and stabilize the banking system. Privatization has also helped to streamline the sector. Investment institutions, both public and private, are becoming increasingly important, with many people turning to investments to supplement their income. Since 1998, the banking system has been almost fully liberalized and most banks offer a wide range of financial services to their customers. Italian families have been traditionally very keen to save money, and, in 1999, the total deposits held in Italian banks amounted to US$450 billion. According to 1999 data, European banks use 53 percent of their available reserves to service individual loans, such as mortgages, with only 46.3 percent directed towards financing private sector businesses. Italy, however, does not conform to this pattern. Italian banks invest 66.7 percent of their resources in private enterprise, while only 18.3 percent is given to private consumers.
Read more: http://www.nationsencyclopedia.com/economies/Europe/Italy.html#ixzz38TbjaUA3
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