November 23, 2018 / 9:16 AM / 25 days ago

Italy parliament commission approves mutual bank amendment: source

ROME (Reuters) - An Italian parliamentary commission on Friday approved an amendment that extends by one year, to the end of 2019, the dateline for mutual banks to turn into joint stock companies, a political source said.

The norm, passed by the Senate finance committee, will now have to be submitted to the full parliament for final approval.

The two banks impacted by the amendment are Banca Popolare Bari and Banca Popolare Sondrio.

Reporting by Giuseppe Fonte, writing by Giselda Vagnoni; Editing by Crispian Balmer

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