IMF working paper encourages Italian banks to clean up balance sheets
Italian banks likely to become more profitable as economy recovers, authors say
There is a need to "push ahead decisively" on cleaning up Italian banks' balance sheets, according to a working paper published by the International Monetary Fund.
Andreas Jobst and Anke Weber investigate the current and prospective earning capacity of Italian banks in their paper, Profitability and Balance Sheet Repair of Italian Banks. They find a "bottom up analysis" of the 15 largest Italian banks shows the system "on the whole" is profitable.
However, the authors also note there is
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