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Milan has claimed for some time to have overtaken Paris. Their city say the Milanese, is now the world's fashion capital. Certainly, clothes and all that goes with them have [...]

The economic downturn in Italy is likely to raise the ratio of default to lending to about 8.5% in 1994 for Italian banks. Despite this, however, the sector's performance is expected to improve because the ratio of equity to lending, at 19.4%, is higher than the 15.9% of the 1983 recession. Meanwhile, large and medium Italian banks recorded a 28% increase of L3,876 billion in operating profits to L17,919 billion in 1994. Post-tax profits, however, amounted to only L2,848 billion due to a tax bill of L6,119 billion., Loan defaults have soared as Italy's economic situation reveals weaknesses. Italian banks are suffering. As business and the family sector absorb the blows of corporate crisis, bankruptcy, liquidation and unemployment, [...]

Banco Ambrosiano has resurrected after a disastrous collapse in 1982 that was to become Italy's biggest banking scandal. The financial institution has evolved into Banca Intesa, which, if all goes according to plan, will merge with Banca Commerciale Italiana in 1999 to create Italy's largest bank. Its progress has largely been due to the skill of its chairman, Giovanni Bazoli, whose leadership resulted in the bank's increasing its net profits by 61% in 1998., Italian banks are feeling pleased with themselves but some voices are warning against complacency Rome was not built in a day and, for those who thought that the Banco Ambrosiano [...]

The Associazione Bancaria Italiana (ABI) reports that Italy's leading banks had a half-year return-on-equity (ROE) of 4.1% in 1998 compared with 2.9% for the same period in 1997. ABI added that only 14 banks have an ROE above 7% and most were smaller banks. However, Italian banks made bigger profits in 1998 from the stock market boom and from higher reevaluation of their stock portfolios. Bank profits rose by 70% mainly from falling interest rates in 1998., Italian banks are feeling peckish but the big foreign banks look set to get the rewards Buongiorno. Qui Banca Mediolanum.' Welcome to Italian-style virtual banking. With a leap into the [...]

The number of merged banks in Italy has grown to 935 by the end of 1997 and merger activity is still going strong by mid-1998. Despite this large number of bank mergers, most banks are not benefiting from the mergers unlike those experienced by merged banks in the US. Unlike American banks, Italian banks do not have the luxury of US-based banks of cutting costs or cutting staff because of the absence of labor flexibility in the country. However, banks are obliged to merge because of the increased competition in the banking sector., Merger activity has been feverish in Italy's banking sector, although the merged hanks have not been achieving reduced costs and improved efficiency. Hardly a week passes without the announcement of [...]

Italian garment company Benetton said Thursday it would pay health care costs for survivors of last month's building collapse in Bangladesh, and provide assistance to families of the victims. International [...]

Italy's three-year economic and financial plan allocating 5.9% public sector borrowing requirement and public debt of 124.6% of GDP for 1996, remains way off the requirements imposed by the Maastricht treaty. The plan aims for a public sector borrowing requirement of L88,000 billion in 1997 which is 4.4% of GDP. Italy wants desperately to join the European Monetary Union to avoid its potentially adverse effects to the Italian economy., Italy has a race to meet the Maastricht treaty requirements. Its budgeted 5.9% public sector borrowing requirement and public debt of 124.6% of GDP are way off target. Fine words, [...]

Guiliano Amato's bank reform law has yet to deliver on its promise to transform Italy's banking system into one that is dominated by a few efficient, private-sector institutions. Five years after the law's enactment in 1990, public sector banks still rule over the Italian banking industry. Bankers are still awaiting the promised privatization and mergers in the industry. One barrier to the effective implementation of the Amato law is the legislators' lack of support for privatization and consolidation., Five years after a promised bank shakeup, the sector is dominated by public sector institutions. Italian banking still awaits the shake-up promised five years ago by the Amaro Law. Privatisation [...]