The Intesa Sanpaolo Group has launched a program based on the synergy between the International Subsidiary Banks Division (ISBD) headed by Marco Elio Rottigni and the Banca dei Territori Division (BDT) headed by Stefano Barrese, to further increase cross-border business opportunities for companies operating in the 12 countries in Eastern Europe and North Africa where the Group’s subsidiaries banks operate.
The new project to leverage intra-group synergies will first be implemented in the markets of Romania, Slovakia and Hungary, where more than 2,000 Italian industrial groups are present with their own subsidiaries in the countries within the ISBD Division perimeter.
The program foresees an increase in financing lines and the offer of products and services dedicated to internationalization and will involve in the first phase Intesa Sanpaolo Bank Romania, CIB Bank Hungary, VUB Banka Slovakia, the three regional offices in Milan, Lombardy and Venice, as well as the Group’s Agribusiness Department of Intesa Sanpaolo
One of the facilities within the program, already available in Romania, is the Confirming Service, a fully digital Reverse Factoring solution operating through an online platform. The tool allows Suppliers in Romania to collect invoices issued to external Buyers, operating in the geographical areas covered by the program, within 24-72 hours from the moment the Buyer has confirmed the invoice issued by the Supplier on the platform.
Accessing this financing option does not impact the indebtedness of the Suppliers, the latter benefiting from preferential conditions correlated to the financial performance and creditworthiness of the external Buyer.
In addition, a roadshow will take place in Italy in May, that includes meetings with local companies and a national webinar dedicated to companies in the agri-food sector. The sessions will illustrate the opportunities offered by the Romanian, Hungarian and Slovak markets, the positive economic growth forecasts, the gradual increase in the capacity to attract foreign investment, the allocation of European funds, government privatization programs, the prospects for upgrading infrastructure and transport networks, the development of the industrial system and the availability of natural and agricultural resources.
“The project reinforces the existing synergy, beginning a phase in which the model for the business integration of the two Divisions will be systematically extended to countries where ISBD retail banks operate, through which Intesa Sanpaolo’s corporate customers have access to a market of 210 million people with a GDP of approximately €1,700 billion. The synergies will benefit both Italian companies active in these countries and foreign companies operating in Italy. The economies included in the divisional perimeter, which encompasses much of Central and South-Eastern Europe and Egypt, are of particular importance in terms of Italy’s international positioning and the internationalisation of Italian companies, which often have very significant shares of business and a consolidated presence in these markets. Intesa Sanpaolo operates in 12 countries through wholly owned subsidiary banks, which are able to offer a full range of excellent financial and advisory services. The project, which aims to exploit synergies with Banca dei Territori, will allow us to benefit from a number of strengths, such as the Group’s leadership in Italy, the local roots of the banks controlled by the International Subsidiary Banks Division, and the drive to internationalisation of the most dynamic part of the Italian economy,” stated Giuseppe Ferraro, Head of Corporate & SME in the International Subsidiary Banks Division.
“As part of a strong international Group, we are able to support our corporate clients in their plans for growth and development in foreign markets. Thanks to intergroup synergies we offer them an international network, effective solutions and constant support, position ourselves as a long term business partner.” said Vlad Ponta, Deputy General Manager and Head of Corporate and SMEs Division.