Digital Goods in South Africa

Italy has 505 banks which translates to 25,400 branches with employee turnover of 278,200 members of staff. The Italian banking system had a major downshift in 2018 when the banking sector lost about 30 percent of its market value; however two years down the line things are shaping up. Discussed below are five of the biggest banks.

1. Unicredit SpA

According to the central bank of Italy, Unicredit SpA is the largest bank in terms of assets, loans as well as deposits. Posing with over 25 million clientele, and 4,500 branches of which 2,868 are domiciled within Italy it has offered employment to over 84,600 employees. At the end of January 2020, Unicredit bank had a market capitalization of US$31 billion.

2. Intesa Sanpaolo

In terms of branches and employees, this is the largest bank in Italy but the second largest in terms of assets. It posts around 11.9 million customers, who are served from 3,825 domestic branches and other 1,060 branches outside Italy. As at the end of 2019, the bank reported an income of €4.05 billion, with assets totaling to €787.7 billion. For the same period, the loans totaled to €394 billion while direct deposits accounted for €415 billion.

3. Cassa Depositi e Prestiti

Established as an investment banking group for national promotion, Cassa Depositi e Prestiti, posts as the third-largest bank in terms of assets in Italy with its headquarters in Rome. The principal shareholders of the bank include the ministry of Economy and Finance and this has given the bank an upper hand in being the custodian for the Italian Postal savings which is among the sources of its financial resources. As at the close of the year 2018, the bank’s total assets stood at €425.1 billion and loans worth €105 billion.

4. Banco BPM

With 4 million customers, Banco BPM posts as the fourth largest bank in Italy, with most of its branches centrally placed in Lombardy, Veneto, and Piedmont. It is a result of a merger between cooperative banks of Banco Popolare and Banca Popolare di Milano (BPM) which took place in January 2017. The bank posts an employee base of 25,000 people and is headquartered in Milan and Verona. As at the end of 2018, its balance sheet consolidated the bank’s assets at €160.5 billion.

5. Onte dei Paschi di Siena

With a strong base in offering deposits, loans, bancassurance, asset management, investment banking, and online banking Monte has established itself as the fifth-best bank in Italy.

The Ministry of Economy and Finance posts as the major shareholder, with 68% of its shares and Assicurazioni Generali SpA has 4.3% shares.

It is one of the oldest banks in the world, established in 1472 and at the end of 2018, it sold its subsidiary Banca Monte Paschi Belgio to an American Equity firm, Warburg Pincus. It has a headquarter in Siena and had assets totaling to €143.59 billion at the end of 2018.