Magazine article American Banker

Top Italian Bank Deposits, Assets Indicate a Slight Increase in 1983; Findings Reflect Downward Trend That Has Continued into Early Months of 1984

Magazine article American Banker

Top Italian Bank Deposits, Assets Indicate a Slight Increase in 1983; Findings Reflect Downward Trend That Has Continued into Early Months of 1984

Article excerpt

NEW YORK -- Deposits and assets of the top 25 Italian banks were up slightly in 1983, showing that banks have been growing at a mucher slower rate in the past 18 months. Deposits for savings banks in the ranking performed slightly better than the commercial banks, while the opposite held true in assets.

These are the findings of a preliminary survey by the America Banker for the top 500 banks in the world. Today, the list of the top 25 Italian banks, including savings banks, is featured.

Deposits for the top 25 banks were up only 1.2% to $298.6 billion from $295.0 billion at yearend 1982. However, this decline can be attributed primarily to the continued strength of the U.S. dollar against all other major currencies. The Italian lira was down 16.7% to 0.000604 from 0.000725 on Dec. 31, 1982. For the previous year, the exchange rate was off 13.5% from yearend 1981's rate of 0.000838. From 1981 to 1983, the Italian lira has declined 27.9% against the dollar.

According to a spokeman from the representative office of the Bank of Italy here, the slightly increase only exemplifies a trend "common in all banking" that has occurred throughout. 1983. The growth rate of deposits at the top U.S. banks was halved in 1983 to 6% in 1983 from over 13% in 1982.

Deposits for the 20 commercial banks were up 1.2% to $257.1 billion from $254.1 billion and at the five savings banks, deposits increased 1.6% to $41.5 billion from $40.9 billion.

The main differences between Italian commercial and savins banks, accoridng to a spokeman from the representative office Cassa di Risparmio delle Province Lombarde, headquartered in Milan, are: savings bank operate geographically and are limited to a particular province; Italian savings banks do not have shareholders and are partially government owned; and "approximately 50% of net income goes to charities," the spokesman added. …

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