Money and Banking: Banking System Overview

Central Bank

The Central Bank of Italy, also known as Banca d'Italia, is the country's central monetary authority. It is responsible for implementing monetary policy, managing the country's foreign reserves, and supervising the banking system to promote financial stability.

Regulated by: Ministry of Economy and Finance

Services typically offered by the central bank include:

• Regulating monetary policy
• Managing foreign exchange reserves
• Supervising the banking system
• Issuing and regulating currency

Examples: Banca d'Italia

Commercial Banks

Commercial banks in Italy are financial institutions that provide a range of banking services to individuals, businesses, and other organizations. They offer a variety of deposit and loan products and also provide other services such as foreign exchange, investment banking, and wealth management.

Regulated by: Bank of Italy and European Central Bank

Services typically offered by commercial banks include:

• Checking and savings accounts
• Loans and mortgages
• Credit cards
• Investment and wealth management services
• Foreign exchange services
• Trade finance

Examples: UniCredit, Intesa Sanpaolo, Banco BPM

Investment Banks

Investment banks in Italy provide a range of financial services to large corporations, institutional clients, and government entities. These services include underwriting, mergers and acquisitions (M&A) advisory, and corporate finance.

Regulated by: Bank of Italy and European Central Bank

Services typically offered by investment banks include:

• Debt and equity underwriting
• Mergers and acquisitions (M&A) advisory
• Corporate finance
• Asset management
• Trading

Examples: Mediobanca, Banca IMI, Goldman Sachs

Retail Banks

Retail banks in Italy provide banking services to individuals and small businesses. They offer a range of deposit and loan products and also provide other services such as credit cards and foreign exchange.

Regulated by: Bank of Italy and European Central Bank

Services typically offered by retail banks include:

• Checking and savings accounts
• Loans and mortgages
• Credit cards
• Foreign exchange services

Examples: Poste Italiane, CheBanca!, BNL Gruppo BNP Paribas

Foreign Banks

Foreign banks operating in Italy offer a range of services to both individuals and businesses, such as deposit accounts, loans, foreign currency exchange, and investment management.

Regulated by: Bank of Italy and European Central Bank

Services typically offered by foreign banks include:

• Deposit accounts
• Loans
• Foreign currency exchange
• Investment management

Examples: Deutsche Bank, Societe Generale, HSBC

Credit Unions

Credit unions in Italy are owned by their members and offer a range of financial services to their members. 

Regulated by: The Italian Federation of Credit Cooperatives

Services typically offered by credit unions include:

• Savings accounts
• Loans
• Payment services
• Investment management

Examples: Banca di Credito Cooperativo di Roma, Credito Valtellinese, Banca di Credito Cooperativo di Brescia

Savings and Loan Associations

Savings and loan associations in Italy are financial institutions that specialize in accepting deposits and providing mortgage loans. 

Regulated by: Bank of Italy

Services typically offered by savings and loan associations include:

• Deposit accounts
• Mortgage loans

Examples: Banca Popolare di Sondrio, Banca Carige, Banca Monte dei Paschi di Siena

Online Banking

Online banking in Italy is provided by a variety of financial institutions, including traditional banks and online-only banks.

Regulated by: Bank of Italy

Services typically offered by online banking include:

• Account management
• Bill payment
• Fund transfers
• Investment management

Examples: CheBanca!, FinecoBank, IW Bank

Other Financial Institutions

Other financial institutions in Italy, such as consumer finance companies and factoring companies, offer a range of deposit and loan services.

Regulated by: Bank of Italy

Services typically offered by other financial institutions include:

• Personal loans
• Factoring services
• Leasing services
• Deposit accounts

Examples: Unicredit Consumer Financing, Fiditalia, Banca Sella Holding

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