The agreement with Compass is already operational. Monte dei Paschi's retail customers will be able to access loans from the consumer credit company in the branches of the Sienese bank.
A step forward by the Montepaschi Group, which integrates the offer of Consum.it – the Group's consumer credit company – with a vast range of solutions by duration, size and type of financing.
An expansion of the offer that satisfies the top management of Mps. “The agreement – affirms CEO Fabrizio Viola – implements the guidelines of our 2013-2017 industrial plan and allows us to achieve important objectives in the context of the creation of the new intermediation model. The new partnership responds to the desire to support the offer of credit to households even in this unfavorable market situation and to continue the process of enhancing our commercial network through the placement of products from qualified third-party partners, rapidly developing business segments with high distribution value".
Thanks to the agreement, Compass also sees its distribution capacity grow, with around 7500 branches in Italy. “This is an extremely important collaboration, with which we are laying the foundations to become the undisputed market leader – comments the CEO Gianluca Sichel – thanks to this partnership with MPS, in fact, both our territorial coverage and the volume of supplies will grow significantly. In fact, the agreement envisages significant volumes of loans to be disbursed in 2014, with the potential for further development”.
Meanwhile the title Mps loses on the stock market and drops to -1,36% around 12.30.
