Italian illimity enjoys business launch and preps retail offer
Illimity is a new Italian bank resulting from the merger of Spaxs and Banca Interprovinciale, calling itself “new generation”.
The firm says it aims to address the rapid changes that the banking sector is experiencing, operating for small and medium enterprises (SMEs) and corporates, and offering a direct mobile banking service for individuals and families.
The bank was founded by Corrado Passera, CEO, who led the project that managed to launch in under a year, with investment from NPL lordi soon after its launch in September 2018.
The bank is quoted on the Borsa Italiana, the Italian stock exchange.
Illimity is soon releasing a retail offering, targeting Q2, the aforementioned products for privates and families.
“Our goal is to support people’s savings and help them in everyday life,” says Carlo Panella, COO.
Spaxs is a SPAC, a special purpose acquisition company, which received a €600 million investment in early 2018.