February 8, 2020 / 11:10 AM / 9 days ago

Bank of Italy launched in-depth review of debt collection firms

BRESCIA, Italy (Reuters) - The Bank of Italy has launched an in-depth analysis of loan collection companies to evaluate their performance and the effectiveness of the supervisory set-up, Bank of Italy Governor Ignazio Visco said on Saturday.

Visco said at the annual Assiom-Forex conference that a non-banking industry had developed to manage impaired loans offloaded by lenders, adding that it was necessary to monitor how these loan collection companies operated.

Reporting by Valentina Za and Andrea Mandala,; Editing by Alexander Smith

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