Bank of Italy Governor Ignazio
Visco told a Senate hearing on Tuesday that oversight during the
years that the country was in recession had "prevented the rise
of a profound, generalized crisis of the banking system".
He added that "banks strongly orientated towards
traditional retail intermediation feel profound, prolonged
recessions more than others".
He said lenders had accumulated a high number of impaired
credits and said this was a "reflection of widespread company
bankruptcies".
ALL RIGHTS RESERVED © Copyright ANSA
