The credit facility agreement between CDP and Intesa Sanpaolo Bank Albania

07.02.2024

Statement for the Media

Alesandro D'Oria, CEO of Intesa Sanpaolo Bank Albania

The credit facility agreement between CDP and Intesa Sanpaolo Bank Albania represents a very important step on the road to the further strengthening of the Italian economic presence in Albania and a confirmation of joint dedication to sustainable economic growth for the country. We are proud that Intesa Sanpaolo Bank Albania is CDP's strategic partner in this new initiative.

Intesa Sanpaolo Bank Albania is the only Italian Bank present in the country and a long-time market leader in Albania, providing strong support for the development of key sectors of the local economy by offering innovative products and services to its business and individual customers.

Intesa Sanpaolo Bank Albania with the guidance and coordination of Intesa Sanpaolo's International Subsidiary Banks Division, led by Marco Elio Rottigni plays a significant role in the strengthening of economic and business relations between Albania and Italy, providing Albanian businesses' opportunities, arising from unmatched access to the Italian market, linking economies and encouraging cooperation between companies operating in both countries.

Italy is the main Albania's top trade partner and foreign investor in the country with 2,500 businesses (Italian and joint Italian enterprises) directly employing 50,000 people. According to the latest data provided by INSTAT, Italy has a leading role in the Albanian Market as an investor in Manufacturing (35.4%), Construction (20.5%), Accommodation & Food services (11.8%) and other Services (28.1%). Italian and joint Italian enterprises have the main share of exports of goods for foreign and joint enterprises with 46.5 %, and the main share of imports of goods to foreign and joint enterprises with 35.7% in Albania with the trade between the two countries amounting to 20% of the GDP of Albania.

Italy has established active platforms of business associations, including Confindustria Albania and the Italian Chamber of Commerce in Albania, with the strong support and coordination of the Italian Embassy and ICE.

With CDP, the ISP Group and Intesa Sanpaolo BankAlbania share a joint vision of an advanced and sustainable Albanian economy that has found a new opportunity for growth in the credit line signed with CDP today, the first in a series planned as part of our partnerships. In addition to other cooperation agreements with other supranational institutions, this credit facility will further boost our capacity to support green initiatives of SMEs and micro-businesses segments as the engine of economic growth and employment for the country in line with our commitment to ESG principles and the strategic focus of our parent Group, as evidenced by 25 million Euro in ESG loans we disbursed in 2023.

With financial institutions and joint action seen as key to advancing green transformation, digitalization and sustainable tourism and agrobusiness, we are confident that our partnership with CDP will contribute to creating a competitive, resilient and sustainable economy in Albania and encourage further bolstering of the overall economic cooperation of our two countries.

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Intesa Sanpaolo Bank Albania: Intesa Sanpaolo Bank Albania, part of the Intesa Sanpaolo Group, is a leading bank in the country offering quality banking services, financial solutions, innovative products and services to corporate, institutional and high net worth clients, small and medium businesses and individual customers. We encourage a growth style that is attentive to sustainable results and creating a process based on trust that derives from customer and shareholder satisfaction, a sense of belonging on the part of our employees and close monitoring of the needs of local communities. We compete in the market with a sense of fair play and are ready to cooperate with other economic entities, public and private, whenever necessary, strengthening the overall capacity for growth and expansion in the local economy. Intesa Sanpaolo Bank Albania has a network of 35 branches in different cities of the country and will continue to expand strategically following closely the economic development of Albania.
Official website: www.intesasanpaolobank.al

Intesa Sanpaolo is Italy's leading banking group - serving families, businesses and the real economy - with a significant international presence. Intesa Sanpaolo's distinctive business model makes it a European leader in Wealth Management, Protection & Advisory, highly focused on digital and fintech, in particular with Isybank, the Group's digital bank. An efficient and resilient Bank, it benefits from its wholly-owned product factories in asset management and insurance. The Group's strong ESG commitment includes providing €115 billion in impact lending by 2025 to communities and for the green transition, and €500 million in contributions to support people most in need, positioning Intesa Sanpaolo as a world leader in terms of social impact. Intesa Sanpaolo is committed to Net Zero by 2030 for its own emissions and by 2050 for its loan and investment portfolios. An engaged patron of Italian culture, Intesa Sanpaolo has created its own network of museums, the Gallerie d'Italia, to host the bank's artistic heritage and as a venue for prestigious cultural projects.

Cassa Depositi e Prestiti (CDP) is a unique group in the Italian landscape, combining financial and industrial capabilities. CDP uses its skills to serve Italy and the other countries it operates in, promoting growth and employment, supporting innovation and the competitiveness of businesses, infrastructure and the country. CDP is the Italian National Promotional Institution fostering the development of Italy, using responsibly national savings in order to support growth and boost employment, leveraging on innovations, business competitiveness, infrastructure and local development. Through its daily commitment, CDP supports the economic and social growth of Italy, contributing to the achievement of the 17 Sustainable Development Goals of the United Nations 2030 Agenda.