Largest banks in Italy 2023, by total assets

Intesa Sanpaolo was the largest bank in Italy in 2023, with total assets amounting to over 963 million euros. Intesa Sanpaolo, together with UniCredit S.p.A., dominates the banking sector in Italy. With over 3,000 offices around the country in 2023, Intesa Sanpaolo also boasted the highest number of branches in Italy.

Fewer banks, fewer branches

The overall number of banks and credits institutions in Italy decreased steadily in the last decade, with less than 450 banks across the country. During the same period, the number of bank branches also decreased steadily.

Online banking on the rise

The decreasing number of bank branches was not only due to the decrease in the number of banks and credit institutions. The growing penetration of online banking, as well as the increasingly widespread use of banking apps via mobile devices also contributed to the gradual loss of importance of physical branches. Finally, it is important to remember the rise of new players in the banking sector: digital banks and financial services providers have caught the attention of many customers in the last few years.