Between 2008 and 2013, the Eurozone lost 742 banks, around 11% of the total, which closed their doors or were absorbed in order to survive. This was revealed by the ECB in its latest report on credit institutions, specifying that the total number was 6.690 in 2008, a share that fell from 6.100 in 2012 and to 5.948 in 2013.
As for Italy, compared to 2008 last year there were 118 fewer domestic banks (the number dropped from 729 to 611).
The consolidation of the European banking system, however, is not over yet. Indeed, from next month it could even accelerate, considering that – with the ECB exams behind us and the entry into force of the new rules that give the single supervisory power to the Eurotower – mergers and acquisitions will be even easier.
