INTESA SANPAOLO PARTICIPATES IN “ABI - CASSA DEPOSITI E PRESTITI AGREEMENT” FOR FINANCING OF SMALL AND MEDIUM-SIZED BUSINESSES
Turin/Milan, 19 October 2009 – Intesa Sanpaolo has signed the financing contract with Cassa Depositi e Prestiti (“CDP”) within the framework of the ABI-CDP agreement that regulates the new initiative for providing financing to Small and Medium-sized Businesses on the part of the Italian banking system. The initiative has been realised through the utilisation of the fund made available overall by CDP to the banking system in two portions, the first of which amounting to about € 3 milliards and the second amounting to € 5 milliards for a total of € 8 milliards.
Intesa Sanpaolo will draw on the first portion of CDP funds in the amount of about € 600 millions, while the quota of use as regards the second portion will be determined in February 2010 on the basis of criteria provided for under the ABI-CDP Agreement.
The product that will be offered to the Small and Medium-sized Businesses for the purpose of investment and/or increase of working capital will enjoy exemption from the substitute tax and will have competitive terms with respect to ordinary bank loans.
It is foreseen that marketing will begin at the end of October at the branches of Intesa Sanpaolo and at the following subsidiaries of the Group: Mediocredito Italiano, Cassa di Risparmio del Veneto, Cassa di Risparmio di Venezia, Cassa di Risparmio del Friuli Venezia Giulia, Banca dell’Adriatico, Cassa di Risparmio in Bologna, Banca di Trento e Bolzano, Banco di Napoli, Cassa dei Risparmi di Forlì e della Romagna, Banca di Credito Sardo, Banca CR Firenze, Cassa di Risparmio di Civitavecchia, Cassa di Risparmio di Pistoia e Pescia and Cassa di Risparmio della Spezia.
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Last updated 22 October 2009 at 08:50