MILAN (Reuters) -More than three-quarters of the population in Lombardy, Italy's largest and most industrialized region, banked online last year, compared with the national average of 63%, the Bank of Italy said on Wednesday.
Digital banking in Lombardy has grown 20 percentage points since 2015, the central bank said in a report on the region's economy, which grew 3.8% in 2022, slightly above the national average.
The data supports No. 2 Italian bank UniCredit (LON:0RLS)'s argument against acquiring Lombardy-based rival Banco BPM (LON:0RLA), a deal some shareholders have called for to strengthen its regional presence. In April UniCredit CEO Andrea Orcel said digital users helped his bank secure 11% of deposits in Lombardy, more than its 6% share of branches in the region suggested.
Italy's ageing population spread over about 7,900 municipalities has been slower to adopt digital banking, a major way for lenders to cut costs, than in the UK and Nordic countries.
The number of bank branches in Lombardy fell 4% in 2022, bringing the total decline since 2008 to 39%, compared with 41% for the European Union, the Bank of Italy said.
Even with the reduction, Lombardy has 41 bank branches per 100,000 residents, against a national average of 36, it added.
To cut costs and upgrade its IT infrastructure, Italy's biggest bank Intesa Sanpaolo (BIT:ISP) this month launched its digital-only bank Isybank.
Citing Eurostat data, the Bank of Italy said 67% of Lombardy's population in 2022 accessed banking services online. This is in line with the EU average and some 10 percentage points above the Italian average.