Banco Bpm and Sace Simest, the export and internationalization pole of the Cdp Group, are making 360 million euros available to support the growth on foreign markets – with high potential but with high risk profiles – of the bank's corporate customers.
Thanks to the recently signed agreement – which provides for a dedicated limit of 60 million euro – companies will be able to access more easily the main insurance-financial solutions used for commercial activities on foreign markets, such as the payment of supplies regulated with documentary credits ( letters of credit) or the release of contractual guarantees required for international tenders or orders (bonds).
“We are very happy with our collaboration with the Italian banking system, based on the principle of complementarity: a commitment which in recent years has seen our guarantees on export financing more than triple, going from 3,5 billion in 2014 to almost 13 billion in 2017 – said Alessandro Decio, CEO of Sace -. This agreement with Banco BPM makes us even happier because it underlines our commitment alongside the third largest Italian banking player which is growing very effectively and with a strong focus that we share in supporting the growth and development of the many Italian companies that export and internationalize".
“The internationalization of Italian companies, especially mid-caps, represents a key element of Banco BPM's 'Corporate' strategy. Our Foreign and Trade Finance structure is now able to best assist companies that work and want to grow on international markets - comments Giuseppe Castagna, CEO of Banco Bpm - We have invested many resources in this area, reinforcing dedicated staff, expanding the export-related sector e
developing innovative products and services. Many of these are based on collaboration with SACE SIMEST, a reference partner for our activity on this front".
