italian banking sector

In Europe 8th August 2023

Italy announces extraordinary banking tax that could raise up to 14% of sector’s profits

Bankinter: The Italian government surprises negatively by announcing an extraordinary tax on banks. Assessment: It seems that the government intends to raise up to €2 billion in this way. The details of the tax are still unknown, but it seems that its scope would be limited to the results of 2023. This is bad news because the collection target represents ~14.0% of sector Profit in 2022 and ~10.5% of estimated…

In Europe 7th July 2018

Spanish banks’ need for ECB financing 2nd in EZ

BS Markets | Spanish banks’ recourse to Eurosystem financing stood at almost 170 billion euros in May. Second only to Italy’s in Eurozone, whose needs amount to around 250 billion euros. In both cases these volumes represent 15% of GDP and between 6 and 7% of the size of the sector.

Risks are diminishing in the Italian banking sector

In Europe 27th February 2018

The Italian Banking Sector Has A False Sense Of Security

The latest Financial Stability Report by the Bank of Italy concludes that “risks are diminishing in the banking sector”. This could give a false sense of security. The decline of non-performing loans reflects one-off write-downs rather than an improvement in credit quality.

In Europe, Markets 9th December 2016

Preventive Recapitalisation Of Monte Dei Paschi More Than Enough For The Time Being

What is being called a “preventitive recapitalisation” of Monte dei Paschi is more than sufficient to provide the Italian and European banking sectors with some breathing space for the time being, avoiding the risk of contagion.