Banca IFIS S.p.A. : Banca IFIS and Banca Popolare di Vicenza reinforce their business collaboration agreement through a cross holding
(Thomson Reuters ONE) -
Mestre - Vicenza, 30 September 2010
Banca IFIS S.p.A. and Banca Popolare di Vicenza have reinforced their
collaborative relationship by purchasing a stake in each other's share capital.
Banca IFIS has subscribed a quota of Banca Popolare di Vicenza's ordinary shares
for an amount of approximately nine million Euro, which corresponds to around
0.2% of the 'Berican' bank's share capital, whilst Banca Popolare di Vicenza has
purchased Banca IFIS's shares on the market for a total amount of around five
million Euro, equal to about 1.8% of Banca IFIS's share capital.
This reinforcement in the relationship between the two banks has taken place
following the excellent results achieved nine months on from signing the
commercial agreement for the distribution of Banca IFIS's factoring products and
services in the 680 branches of the Banca Popolare di Vicenza Group.
For Banca IFIS, from a strategic point of view, this cooperation agreement
between banks plays an avant-garde role in the local expansion of the bank which
continues to invest in its territorial expansion and in small and medium
enterprises.
For the Banca Popolare di Vicenza Group, this reinforcement in the partnership
confirms its objective to continue development in the factoring sector, which is
believed strategic, also achieving significant growth margins in the near
future.
Banca IFIS (ISIN IT0003188064, Bloomberg IF IM, Reuters IF MI) active since
1983 in financially supporting enterprises is, today, the only Italian bank
specialising in the activity of financing enterprises' receivables. Listed in
the STAR segment of the Italian Stock Exchange since 2004, Banca IFIS operates
in a market segment experiencing a high growth rate, especially significant
given today's economic context, with a unique business model based on
asset-based financing which allows easier access to credit. Banca IFIS,
continuously committed to the constant development of new services for lending
financial support and managing working capital, allows thousands of enterprises
every year to find the answer to their financial needs.
In continuous expansion both in Italy and abroad, the Banca IFIS Group today has
25 branches in Italy, a branch in Paris, a subsidiary in Poland (Warsaw),
representative offices in Romania (Bucharest) and Hungary (Budapest) and
agreements with over 200 banks worldwide. With more than 100 dedicated and
in-house trained sales staff, the Banca IFIS Group has the most complete and
specialized sales network in Italy which guarantees the advantage of direct and
personalized relationships with over 2,500 enterprises. At 31/12/2009, the
turnover (value of receivables managed) equalled 3.5 billion Euro, recording an
annual weighted average growth rate in the last 10 years of 25.8%; net banking
income stood at 80.8 million Euro; net profit amounted to 17.2 million Euro and
default loans / total loan commitments equalled 1.6%.
The Banca Popolare di Vicenza Group, with over 5,600 employees and 680 branches,
is the ninth ranked Italian bank. Founded in Vicenza in 1866 as the first credit
society in Veneto, the Beric banking institution is strongly rooted in the North
East and is also widely present in the North West, in Tuscany (with its
subsidiary Cariprato) and in Southern Italy (with Banca Nuova).
Press contacts:
Banca IFIS S.p.A. Banca Popolare di Vicenza
Communications Office Press Office
Mara Di Giorgio Valerio Vago
Tel +39 041 5027623 Tel. +39 0444 339489
Fax:+39 0415027555 Cell. +39335458757
Cell: +39 335 7737417 valerio.vago(at)popvi.it
m.digiorgio(at)ifis.it
www.bancaifis.it
Weber Shandwick | Advisory Paolo Galimberti
Tel. +39 0444 339809
Giorgio Catalano 334.6969275 Cell. +393346644065
gcatalano(at)advisorywebershandwick.it paolo.galimberti(at)popvi.it
www.gruppopopolarevicenza.it
Linda Carcione 335 6111390
ccarcione(at)advisorywebershandwick.it
[HUG#1447922]
Press Release (PDF):
http://hugin.info/143833/R/1447922/390411.pdf
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originality of the information contained therein.
Source: Banca IFIS S.p.A. via Thomson Reuters ONE
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