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Bankitalia says economic crisis weighing on Italy's banks

Bank profitability hurt by high credit risk, rising tax levels

19 November, 18:34
Bankitalia says economic crisis weighing on Italy's banks (ANSA) - Rome, November 19 - The economic crisis has cut deeply into the profits of Italian banks, the country's central bank warned Monday.

Ignazio Visco said that Italian banks are being hurt by low demand for credit, high levels of risk, and rising taxation.

This adds to the necessity of banks continuing plans for restructuring, he said.

The central bank released a report on the stability of Italian financial services corporations on Monday.

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