October 4, 2019 / 8:18 AM / 11 days ago

Italy banks need new round of consolidation - Bank of Italy official

ROME, Oct 4 (Reuters) - A new round of consolidation is needed in Italy’s banking sector to improve efficiency and boost profitability, the Bank of Italy’s director general Alessandra Perrazzelli said on Friday.

Speaking at a conference, Perrazzelli said smaller banks in the south of Italy in particular would find life difficult without mergers of some kind. (Reporting by Stefano Bernabei, writing by Stephen Jewkes)

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