All in all, even taking into account the fact that operating costs – which have fallen significantly in recent years – are expected to rise again, reflecting the spike in inflation, and with all the uncertainty surrounding any forecast in these unsettled times, there are now the conditions for the Italian banking system to achieve adequate profitability in the near future. 27.
Despite the uncertain economic outlook, bank lending to firms has accelerated since the spring of last year, reflecting both the higher working capital requirements, stemming from higher input costs, and lower bond issuance. However, this trend must also be assessed in light of the price increases.