Abstract
Since the 1990s, Italy has undertaken the most intense and prolonged transformation of its intermediation system in Europe. What has proved to be a real upheaval in ownership structures has led to the 'disappearance' of the banking system in the southern regions and the transfer of the 'thinking head' to the central north. This did not happen as a result of market dynamics but thanks to a plan conceived and guided by the Bank of Italy, with the aim of 'saving' the southern banks, increasing their allocation efficiency, management performance and profitability.
Thirty years after the beginning of the restructuring process, the data used in this work show that the performance gaps between macro-areas have remained substantially unchanged, to the detriment of households and the productive fabric of the southern regions, which - in fact - continue to suffer from lower credit, with higher costs than those of the central and northern regions, which interface with banks that have their local headquarters in the same areas, enjoying the relative benefits.