In recent years, the governance structure of cooperative banks has been the subject of major reform measures. The reform of the popolari banks has allowed institutions that had grown significantly in size – some of which listed – to take on the legal form that best represents their actual business structure.
The governance problems inherent in the cooperative model would have continued to hamper their access to the financial market, especially when it is necessary to rapidly strengthen capital. The transition to joint stock company makes it possible to carry out mergers that would otherwise be difficult to execute, with benefits for the entire banking system.