Market Research Report
Retail Banking in Italy - COVID-19 Impact Snapshot
|Published by||GlobalData||Product code||949836|
|Published||Content info||18 Pages
Delivery time: 1-2 business days
|Retail Banking in Italy - COVID-19 Impact Snapshot|
|Published: July 9, 2020||Content info: 18 Pages||
The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020.
Fears surrounding the impact of COVID-19 have already significantly impacted the global economy, with most countries across the world registering declines in their economic growth for the year to date. Many economists and institutions have cut their forecasts and many experts are predicting the potential onset of recessionary environments.
A similar trend was seen in Italy, as economic growth in the country dipped in the first quarter of 2020. The decline had an adverse impact on all sectors, including banking. Italy, which was one of the worst-affected European countries, is now on a path to recovery with fewer positive cases being reported, businesses gradually restarting their operations, and domestic travel resuming thanks to the government's stringent measures.
This report focuses on the impact of the Coronavirus outbreak on the economy and the retail banking industry in the Italy. Based on our proprietary datasets, the snap shot provides a detailed comparison between pre-COVID-19 forecasts and revised forecasts of total mortgage, consumer, credit card loan balances as well as deposit balances in terms of value and growth rates. It also offers information on measures taken by the government to combat Coronavirus.