In 2008, the profits after tax amounted to $ billion representing a return on equity of 20 percent. For many, the high level of profitability enjoyed by the banks, speaks to the proliferation of charges and commissions levied on most bank transactions, together with the spread between the rates on loans and advances and that paid to depositors.
The recent launch of the G20 TechSprint 2021by the Bank of Italy and the BIS Innovation Hub will also be important to this end, by encouraging entrepreneurs and start-uppers to develop solutions for data collection and verification, climate risks assessment and connecting sustainable projects and investors.