ICCREA Holding is the co-ordinating company of the ICCREA Banking Group, which includes specialised business companies whose mission is developing and providing financial products and services on behalf of the Italian co-operative banks (Banche di Credito Cooperativo – BCC).
These subsidiary companies (such as ICCREA Banca, Banca Agrileasing, Aureo Gestioni, BCC Vita, BCC Private Equity, BCC Factoring) are focussed on three main activities: retail, corporate and institutional. These activities include private banking, asset management, insurance, leasing, merchant and investment banking and payment system facilities for the Italian co-operative credit system.
The Credito Cooperativo in Italy is a unique nationwide banking group, which consists of 440 local banks (BCCs), which at the same time form part of the 15 local federations, located throughout Italy. The 15 local federations are represented by a national federation, Federcasse.
This system – whose core business focuses on retail banking, micro and small-scale enterprise finance and non-profit-making activities – is a valid competitor of the major domestic banking groups.The Credito Cooperativo system in Italy provides 8.5% of the loans issued to consumers, 20.6% issued to small and medium-size enterprises, and 10.6% to non-profit organisations.
BCCs are both clients and (directly or through the Regional Federations) shareholders of ICCREA Holding and they represent a relevant financial organisation at local level and a particularly significant network distributed nationwide (mainly in non-urban areas) with more than 440 independent local banks and 4,078 branch offices (11.5 % of the Italian banking system), around 5 million clients (out of which 864.306 are owner-members) and more than 28,800 employees.
From an economic point of view, BCCs have registered a steady rise in bank deposits (more than € 118 billion), in investments (€ 101 billion) and in assets (more than € 145 billion) in the last year, as of September 2007.
BCCs are not only relevant players in the Italian financial system but also represent a significant example of ethical behaviour in business activities and promoting corporate social responsibility.
Via Lucrezia Romana, 41/47
I - 00178
Tel. + 39 06 72071