Yuriy Ukazkin
According to the recent report published by the ECB, 511 European banks were closed. The current amount of banks in the EU is 9076. 7059 of them belong to the eurozone. Most of the closed banks – 124 – were located in Luxembourg. France is number 2 with 105 closed banks. Italy is number 3 – 55 banks.
The report says that most of the banks were closed due to insolvency while other ceased to exist due to merger or takeover.
For reference sake, since the very creation of the eurozone (1999), the amount of local banks declined by 28%.
Yuriy Ukazkin
