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The number of monetary financialinstitutions (MFIs) suffered a 4 percent net decrease last year,the European Central Bank (ECB) said in a report Friday.
The number of MFIs stood at 7,533 on January 1, 2012, which is332 less than a year ago. The decrease was particularly pronouncedin Ireland (-106), France (-59), Luxembourg (-48) and Germany(-43).
According to the report, since January 1, 1999, although theeurozone experienced continued enlargement through the accession ofnew members such as Greece, Slovenia, Cyprus and Malta, the numberof MFIs in the eurozone decreased by 24 percent.
The vast majority of euro area MFIs are credit institutions(commercial banks, savings banks, post office banks, credit unions,etc), accounting for 82.4 percent of MFIs, while money market fundsrepresent 16.9 percent. Central banks and other institutionstogether account for only 0.4 percent of MFIs.
Germany and France have 41.2 percent of MFIs in the eurozone.Enditem |
