Central Banking

Bank of Italy closes more than a third of branches

The Bank of Italy said on Wednesday that it will close 33 of its 97 branches as part of the reorganisation of its network.

The central bank said the closures were an effort "to adapt the central bank's functions to the changed economic, financial and institutional context and to streamline its branch network in a similar way to the restructuring that has been carried out or is being carried out by other national central banks."

After the reorganisation, Italy will have 20 branches located in