In 2015, Intesa Sanpaolo continued its focus on immigrant customers, recording over 984 thousand customers (+4.4% compared to 2014). The money transfer services offered include three complementary services which in terms of characteristics and costs make the product range complete and competitive: Getmoney to Family, which enables the sending of money to the migrants’ main countries of origin thanks to agreements entered into with local banks; Express to Family, designed to transfer money to Intesa Sanpaolo Group Banks located in Albania, Egypt, Romania, Serbia and Ukraine and Money Transfer Western Union, which thanks to its widespread agent network enables the receipt of money worldwide.

In 2015 almost 131,000 remittances were executed amounting to more than 63 million euro in all, on the increase compared to 2014.

The increase referred mainly to the Western Union service, supported by promotional actions focused on reducing the cost of remittances. Through this service, in 2015 over 112,000 transfers were made, totalling 35 million euro (in 2014, almost 88,0000 transactions about 27 million euro).

As for the other two services, almost 5,800 transactions for about 9.2 million euro have been handled by Express to Family and more than 13,200 worth more than 19 million euro by GetMoney to Family.

To integrate the offer for the sending of money, the bearer rechargeable Flash People prepaid card, which allows the holder to make purchases and withdrawals abroad, has been made available.

FOREIGN ENTREPRENEURSHIP IN ITALY

Foreign entrepreneurship has acquired an increasingly important role in our country in recent years. According to data from Infocamere, in 2014 immigrant businesses were 476,033, 9.2% of the total of active enterprises in Italy, a further increase compared to 2011 (7.9%). However, there is no systematic evidence of the evolution in Italy of these companies in terms of revenue growth and profitability.

To better understand a phenomenon that is likely to gain increasing importance over time throughout Italy, the Intesa Sanpaolo’s Research Department has created an original database of about 216,000 manufacturing and service companies, classified taking into account the nationality of the company owner. Therefore, it was possible to highlight the best evolution of the turnover of foreign enterprises in the 2011-2013 period, thanks to greater sacrifices in unit margins. There is also a core of successful medium-sized enterprises that have managed to grow and, at the same time, strengthen their industrial profitability.

When comparing them with Italian companies it was possible to also observe a good competitive position of immigrant businesses in international markets, which, in perspective, may favour them in terms of growth. In fact, they show good presence abroad with export activities and proprietary brands, possibly favoured - in this respect - also by their ties with their countries of origin @.