INTESA SANPAOLO LAUNCHES ISTANBUL BRANCH DEDICATED TO CORPORATE CLIENTS
TURKEY IS KEY FOR THE BANK’S GROWTH AND ITS CLIENTS’ ENTERPRISES
• The Corporate and Investment Banking division reaches a new international milestone, strengthening the group’s global operations, now in 29 countries worldwide
• Gaetano Miccichè: “For Intesa Sanpaolo, the Istanbul branch represents a long-awaited return to a market that has always been fundamental to us. I believe it will enrich our know-how to provide more personalized services to our Italian, Turkish or foreign client-companies”
• Marcello Sala: “Turkey has identified among the primary goals of its G20 presidency the crucial role SMEs play in the economy, in the country and internationally. Intesa Sanpaolo strongly supports topics such as the optimization of lending ‒ especially to SMEs ‒ and related financial regulation”
• Gregorio de Felice: “Turkey is a fast expanding market and one watched with growing interest by Italian companies. Italy currently ranks third in the list of top trade partners, with a market share of 6.5 per cent. Relevant investments are planned in infrastructure, such as railways, roads, ports, airports, energy, environment and urban development”
Istanbul, 16 April 2015 – Intesa Sanpaolo has launched a new branch in Istanbul, underlining the group’s commitment to enterprises that are building a presence in Turkey, and to trade and financial relationships between Turkey and Italy.
Intesa Sanpaolo already has a presence in Turkey through its Istanbul Representative Office but with the opening of the new branch, it is today the only Italian banking group with a directly operational corporate branch in Turkey.
This will further strengthen the group’s global presence through the international network of the Corporate and Investment Banking division (CIB). Through its four hub-branches based in London, New York, Hong Kong and Dubai, it operates worldwide coordinating branches, representative offices and specialized banks in 29 countries.
Intesa Sanpaolo’s presence in Turkey dates back to 1907, when Banca Commerciale Italiana (BCI), which was later merged into the group, set up Società Commerciale d’Oriente (Comor), which had operations in the Eastern Mediterranean, the most significant of which was in Istanbul.
The new Istanbul branch is part of the CIB’s international network and operates as a full branch in close cooperation with the international network and Italian facilities of the group. It aims to provide customers with the best solutions to their needs.
Through dedicated teams, the branch will provide a wide range of products: corporate banking, services for export credit, local and international payments, treasury products. The goal is to provide tailor-made solutions for clients’ short and medium-term needs.
In addition, the branch will work in close collaboration with Banca IMI ‒ the investment bank of the group ‒ for structured finance products, project and acquisition financing, M&A advisory, capital markets, cross-border transactions and financial risk management.
“For Intesa Sanpaolo, the Istanbul branch represents a long-awaited return to a market that has always been fundamental to us,” said Gaetano Miccichè, Managing Director and Head of the Corporate and Investment Banking division of Intesa Sanpaolo. “Our new Istanbul branch will enable Intesa Sanpaolo to bring its experience as a global partner in banking and financial services, advice and assistance to enterprises that are planning to grow or to enter Turkey.
“We are convinced of the importance of being present in a crucial market for trade and investment flow between Europe, the Middle East and Central Asia. This branch will be able to take advantage of the synergies with our other banking facilities in Italy and abroad and at the same time it will enrich our know-how, to provide more personalized services to our Italian, Turkish or foreign client-companies,” he added.
“Turkey has identified among the primary goals of its G20 presidency the crucial role SMEs play in the economy, in the country and internationally,” said Marcello Sala, executive Vice Chairman of the Management Board of Intesa Sanpaolo. “Intesa Sanpaolo strongly supports topics such as the optimization of lending ‒ especially to the SMEs ‒ and related financial regulation, and is ready to share its extensive experience in this field in Turkey for the benefit of bilateral relations as well as trade and investment flows between the two countries. The invitation to Intesa Sanpaolo to be an active part of G20, the advisory group for the decisions of the G20, is certainly to be read in that context,” he added. “Intesa Sanpaolo’s Istanbul branch is already the hub of economic flows between the two countries and will be key for the delivery of operational know-how to support SMEs and large companies in their activities ‒ Italian, Turkish and international,” Sala concluded.
“Turkey is a fast expanding market and one watched with growing interest by Italian companies,” said Gregorio de Felice, Intesa Sanpaolo’s chief economist. “Italy currently ranks third in the list of top trade partners, with a market share of 6.5 per cent. Relevant investments are planned in infrastructure, such as railways, roads, ports, airports, energy, environment and urban development. This should prepare the ground for a further expansion of the Turkish economy and Italy is expected to ride the wave,” he added.
“Last but not least, the Turkish government has been focusing on improving investors’ protection and on slimming bureaucracy, to promote business opportunities,” he concluded.
The Istanbul branch strengthens the international presence of the group, which is already active in more than 40 countries. Thanks to a network of branches, representative offices and banks specialized in the corporate banking business, Intesa Sanpaolo is present in 29 countries, supporting local and cross-border activities for corporate clients and companies. Furthermore, through its subsidiaries within the International Subsidiary Banks Division, Intesa Sanpaolo provides strategic coverage in another 12 countries in Central-Eastern Europe, the Middle East and North Africa, offering retail, commercial banking and corporate banking services.
Intesa Sanpaolo is among the top banking groups in the Eurozone, with a market capitalisation of more than €50 billion. It is the leader in Italy in retail, corporate, and wealth management and offers services to 11.1 million customers through a network of approximately 4,500 branches. These are well distributed throughout the country with market shares no lower than 13 per cent in most Italian regions. Intesa Sanpaolo has a selected presence in Central and Eastern Europe and the Middle East and North Africa, with approximately 1,400 branches and 8.4 million customers belonging to the group's subsidiaries operating in retail and commercial banking in 12 countries.
Last updated 16 April 2015 at 17:56