Banca IFIS has assisted both Italian and international companies since 1983 and works in the business credit sector with a distinctive way within the reference market, using innovative means of collecting funds from savers.

Today it is the only independent Italian bank which specialises in business credit by managing working capital and constantly developing new supplementary services to provide increasingly effective support to its customers. In particular, Banca IFIS responds to the financial needs of companies which, having limited creditworthiness, are creditors to customers with a good credit standing. Its asset-based method allows the Bank to lend to customers by transferring the risk to the debtor. Thus it is the quality of the loan and the company’s productive capacity rather than its equity which is assessed by Banca IFIS. Purchased receivables are therefore high-quality trade receivables with short maturities (30-150 days), which are bought on and exclusive and continuing basis with notice sent to debtors, who can only release themselves by settling their commitment with the Bank.

In 2010, alongside the Bank’s traditional and historical business, IFIS opened a new division dedicated to developing new integrated management solutions for large companies working mainly, but not exclusively, in the pharma industrial sector and which are interested in assigning receivables due from the Public Administration without recourse and with the risk of late payment transferred to the purchaser. Purchasing these receivables, which are due from the Public Administration, means less exposure to credit risk and good returns. The Bank decided to compete in this sector after gaining, with regard to SMEs, a leading position in the sector of trade receivables due from the public healthcare sector.

Funding is handled by using a diversified range of tools, both from the interbank market and to retail customers. From the second half of 2008 Banca IFIS has started online funding from customers, with a free and fixed formula. Currently more than 27,000 customers have already opened an online savings account (Rendimax); at the end of the year, 58% of deposits was fixed, mainly for periods of more than six months.

The success of the initiative has enabled the Bank to create a liquidity reserve in the form of banking and government bonds which are ideal for refinancing with the Eurosystem by setting up a securities management activity for increasing and significant amounts.