Intesa Sanpaolo unveils new IMI Corporate & Investment Banking Division
The presentation event of the new IMI Corporate & Investment Banking Division was held today 23 June 2020. The Division will be created upon completion of the process of merger by incorporation of Banca IMI into Intesa Sanpaolo, expected in July.
The operation will be carried out in complete business continuity and will allow to enhance the experience of Intesa Sanpaolo's Corporate and Investment Bank (CIB), which boasts an international presence of hubs and corporate branches present in 25 countries worldwide.
The new reality intends to actively support the economic recovery of the country, with a unique and distinctive business model based on the relationship with customers and high specialist skills, to encourage the strengthening of the international presence and offer excellence on Capital Markets products, Investment Banking and Structured Finance.
The integration of Banca IMI into the Parent Company falls within the context of Intesa Sanpaolo's 2018-21 Business Plan as a key engine for its implementation. Already today, in fact, the undisputed leading Italian investment bank in the Capital Markets & Investment Banking sector, represents a significant element for achieving the results of the whole Group.
Gaetano Miccichè, Mauro Micillo and Massimo Mocio will be respectively Chairman, Division Manager and Head of Global Markets & Investment Banking (Deputy of the new Division).
The “IMI model” has been able to combine a deep knowledge of the Italian business fabric, an innovative approach to lending, with a forward-looking glance at dimensional growth and international expansion, building a system of skills, professionalism and best practices capable of guiding and supporting the Italian economy. In recent years Banca IMI has been behind some major business cases and success stories of growth and recovery, which have turned it into an excellence at the national level and a brand recognised and appreciated on international markets. More generally, these transactions have enabled the entire CIB Division to make a strong contribution to the results of the Intesa Sanpaolo Group, thus becoming a benchmark for customers and competitors alike. Today, the integration of Banca IMI into Intesa Sanpaolo represents the final step of a path of excellence and strengthens the Group’s vocation in supporting businesses, public administrations and financial institutions.
Gaetano Miccichè, Chairman of Banca IMI
The new IMI Corporate & Investment Banking Division has its roots in the values that have made Banca IMI a centre of excellence in Capital Markets, Investment Banking and Structured Finance products, while at the same time enhancing the unique and distinctive model of Intesa Sanpaolo’s CIB. Centrality of customer relations, sector-wide coverage and further expansion of the international presence will be the cornerstones of the new structure, which intends to sustain and support the recovery of our economic and production system even more effectively, while working alongside corporate customers, the public administration and financial institutions in a delicate moment such as the current one.
Mauro Micillo, Head of the Corporate & Investment Banking Division of Intesa Sanpaolo and CEO of Banca IMI
Banca IMI comes into the long-awaited integration into Intesa Sanpaolo having achieved the best consolidated net income ever recorded in its history: over 1.4 billion euro, an increase of 76% compared to the previous year. A very significant growth, which was borne out further in the consolidated net income recorded as at 31 March of this year, equal to 411 million euro, an increase of 71.1% compared to the same period in 2019. This figure is all the more appreciable if put in the context of a global scenario shaken up, at the end of the quarter, by the first effects of the Coronavirus pandemic.
Massimo Mocio, General Manager of Banca IMI
Last updated 24 June 2020 at 09:46:46