Italian private banks are leaving Switzerland in increasing numbers and could leave altogether because of a crackdown on tax evasion in Italy, tight scrutiny of bank secrecy and weak returns after the financial crisis, Reuters reports.

In the past 18 months, around eight lenders in the Italian-speaking canton of Ticino have closed or been sold, half of them Italian-owned, the report said.

In the most recent departure, Italian insurer Fondiaria-SAI sold its Banca Gesfid private bank to Switzerland's PKB Privatbank last month for SFr134 million ($136.6 million).

"The major Italian banks, I think they sooner or later will go away and close down or just sell themselves to other people," PKB Vice Chairman Fernando Zari was quoted as saying by the news service.

"The banks that have been passing from one hand to another are all Italians, and this trend should continue, in my opinion. I think it's the thought of practically every bank in Lugano," Ticino's capital, he added.

Ticino, just across the border from Italy, has served as a convenient place for Italians to put their money offshore. Its banking association has almost 40 members, with Italian names prominent. The trade group last year put its members' assets at $390 billion.

But the cash-strapped Italian government's crackdown on tax evaders has put the canton of Ticino under pressure.

In June, it was reported that UBS was eliminating 25 jobs in the canton following the third Italian tax amnesty.