Italy’s government is preparing to sell off its remaining shareholdings in domestic banks, according to Economy Minister Giancarlo Giorgetti, marking the likely end of a state ownership era that began with a financial crisis-era bailout.

Speaking at the annual meeting of Italy’s banking association in Rome, Giorgetti pointed specifically to the Treasury’s 4.9% stake in Banca Monte dei Paschi di Siena — a holding that dates back to a government rescue of the historic Sienese lender.

Giorgetti expressed confidence that this would be the last such meeting where the government still holds stakes in major banks, saying he believes the public shareholder’s role has run its course. Investing.com

The move comes as Italy’s banking sector continues to consolidate through a wave of mergers and acquisitions — activity the government says it’s monitoring closely as the exit plans take shape.

For everyday savers and businesses in Italy, a fully privatized banking sector is generally seen as a sign of returning financial stability, following the sector-wide turmoil of the previous decade when several Italian banks required state intervention to survive.