Bank of Italy sells off three ‘good banks’ for €1

The Bank of Italy

Italy's central bank has approved the sale of three 'good banks' holding the viable assets of resolved regional banks to the country's fifth-largest commercial bank, it announced on January 18.

The board of the Bank of Italy had approved the sale to UBI Banca of the three banks, after a process conducted according to "the principles of openness, transparency and non-discrimination", the bank's statement said.

Nuova Banca delle Marche, Nuova Banca dell'Etruria e del Lazio and Nuova Cassa di

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