Milano, 27th February 2004
The Board of Directors of INTESA MEDIOFACTORING SpA, Gruppo Intesa’s factoring company, met today chaired by Enrico Fusi and examined and approved the draft financial statements as at 31st December 2003, which highlighted a net income of 28.2 million euro (+27.1% with respect to 2002).


During 2003 the Company made significant interventions to re-qualify its portfolio, by developing higher-service-content activities. This led to improve net interest and other banking income by 3%, despite a 6.8% decrease in turnover, which totalled 27,747 million euro, with loans to customers of 4,705 million euro.

The Chairman of Intesa Mediofactoring, in commenting financial results and operations development, expressed his great satisfaction with the activities of the Company, which closed 2003 confirming its top position among Italian players in the sector.