EU loses 150 banks in a year

Tim Wallace
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THE EU lost 152 banks and other lenders last year, as weak institutions continue to close or be taken over by stronger firms, the European Central Bank (ECB) said yesterday.

The total number of credit institutions fell to 5,948 last year, down from 6,100 in 2012 and 6,690 in 2008.

“The rationalisation process suggests that overall efficiency of the system continues to be enhanced,” said the ECB.