Italian bank takeovers a success - Saccomanni

The acquisition of southern Italy's leading banks by banks in the centre and north of the country have had important positive effects, contributing to improve principles and techniques of credit management, Fabrizio Saccomanni, a director general of the Bank of Italy, said in testimony this week.

Quoting from a recent report by the central bank, Saccomanni said the takeovers have also encouraged more lending and lower interest rates, dispelling fears that the entry would adversely affect the

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