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BANKS EEA

Acquiring a bank

Acquiring a bank is complicated transaction. It involves all the processes of acquisition including receiving financial regulatory approvals.
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  • ITALY

    Inhabitants - 61,016,804 (July 2011)

    Language - Italian (official), German (parts of the Trentino Alto Adige region are predominantly German speaking), French (a small French - speaking minority in Valle d'Aosta region), Slovene (a Slovene - speaking minority in the Trieste - Gorizia area)

    Currency - EURO (EUR)

    Religion - Roman Catholic 90% (approximately; about one-third practicing), other 10% (includes mature Protestant and Jewish communities and a growing Muslim immigrant community)

    Politics - The politics of Italy are conducted in a parliamentary, democratic republic with a multi-party system. Executive power is exercised collectively by the Council of Ministers, which is led by the President of the Council of Ministers, referred to as "Presidente del Consiglio" in Italian. Legislative power is vested in the two houses of parliament primarily and secondarily in the Council of Ministers. The judiciary is independent of the executive and the legislative branches.

  • Major industries – tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics.

    Banks (2010) - 760 banks; 33,640 branches; 318,949 employees; assets – EUR 3,808 trillion; loans – EUR 2,051trillion; deposits – EUR 1,631 trillion

    Banking regulations - The business of banks and financial intermediaries in Italy is subject to extensive regulation, which is also intended to encourage correct and prudent conduct. It consists of laws, as well as resolutions adopted by the Interministerial Committee for Credit and Savings in accordance with Article 47 of the Constitution and Community law. The Bank of Italy issues technical provisions through circulars, regulations and supervisory measures. The Bank of Italy carries out checks of varying intensity on intermediaries. Some of the checks cover all of the different aspects of their business: satisfaction of the requirements to engage in the business, capital stability and sound and prudent management. In the latter case the Bank of Italy focuses on: the consistency of organisational arrangements, the quality of management, the control of risks, the adequacy of capital to cope with losses, the compliance with the law on transparency, money laundering and usury. The Bank of Italy is also responsible for issuing banking licenses.