Italy

Italy's banking system is led by two national champions, Intesa Sanpaolo and UniCredit, each with more than US$1tn of assets, followed by a tier of mid-sized groups that is being reshaped by mergers. The five largest credit institutions held 51.2% of sector assets in 2025, according to ECB structural indicators, and 415 credit institutions were registered in August 2026. Monte dei Paschi di Siena consolidated Mediobanca from 30 September 2025, lifting its total assets to €241.6bn and placing it alongside Banco BPM and BPER Banca.