7% of Italian Population Lives in Areas without Bank Branches

Italy's National Organization of Mountain Municipalities, Communities and Bodies (UNCEM) revealed that 7 percent of the Italian population lives in areas where there are no bank branches. The Italian region of Piedmont recorded the largest number of residents living in municipalities without bank branches at 13.8 percent. This phenomenon is particularly noticeable in the south and on the islands, where 11 percent of the population does not have bank branches. Campania is the highest region with residents without bank accounts (700,000). UNCEM data showed that cash withdrawals are increasing by one billion euros per day, but branches are still closing their doors which negatively impacts the unions that UNCEM supported in its branch protection measures. Source: Qatar News Agency