Global Analysis from the European Perspective. Preparing for the world of tomorrow

Collapse Of Regional Italian Banks Puts 40,000 SMBs In Jeopardy

Italy initiated its largest bank bailout in its history when it committed up to $19 billion to save two failing regional banks, Banca Popoalare di Vicenza SpA and Veneto Banca SpA. The ongoing struggles of those FIs is putting as many as 40,000 small and medium-sized businesses (SMBs) in the region in jeopardy. The collapse of the two banks wiped out savings of their combined 200,000 shareholders. In addition, the area’s 40,000 small businesses remain without access to financing as criticism mounts over regulatory oversight of the banks. Source Pymnts


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