Intesa Sanpaolo cooperates with the major Confidi organisations that issue guarantees (with 50% coverage on average) in favour of the Bank, facilitating businesses’ access to short-term and medium/long-term financing to business and production activities. In 2015, 17,200 loans guaranteed by Confidi were granted for a total of over 1.2 billion euro.

The role of Confidi with regard to the use of the Guarantee Fund pursuant to Italian Law 662/96 is important. The acquisition in the form of counter-guarantee of a State guarantee of last resort allows a reduction in capital absorption for Banks and Confidi, with a positive impact in terms of price and/or greater volume of credit granted.

The Intesa Sanpaolo Group’s International Subsidiary Banks are also very active in supporting the local production with services and subsidised lending to small business and SME customers. The initiatives are often carried out in partnership with multilateral banks for regional development (e.g. The European Bank for Reconstruction and Development) and through local economic development programmes (e.g. The Ledib program for the development of the Balkans) or government funds aimed at ensuring the growth of small businesses and the development of high value-added activities.

Altogether, new medium-term funding was disbursed for nearly 7 billion euro to households and businesses by the International Subsidiary Banks.