IRFIS – FinSicilia

IRFIS – FinSicilia
Native name	IRFIS – Finanziaria per lo Sviluppo della Sicilia S.p.A.
Formerly	Istituto Regionale per il Finanziamento alle Industrie in Sicilia; Mediocredito della Sicilia;
Company type	state-owned enterprise
Industry	Financial services
Headquarters	47 Via G. Bonanno, Palermo, Sicily, Italy
Area served	Sicily region
Key people	Rosario Basile (chairman); Vincenzo Emanuele (general manager);
Services	development bank
Net income	€2,068,886 (2014)
Total assets	€330,663,373 (2014)
Total equity	€25,605,561 (2014)
Owner	Sicily region (100%)
Parent	Sicily region
Capital ratio	16.49% (Tier 1)
Website	Official website (in Italian)
	Footnotes / references; source

IRFIS – Finanziaria per lo Sviluppo della Sicilia S.p.A. also known as IRFIS – FinSicilia S.p.A., is an Italian development bank based in Palermo, Sicily. The bank is registered under article 106 and 107 of Testo Unico Bancario(Italian banking law). The bank provided subsidized loan and as an intermediates for companies to access government incentives.

History

Istituto Regionale per il Finanziamento alle Medie e Piccole Industrie in Sicilia (IRFIS) was found on 31 October 1952 as a statutory corporation,^[2] which was one of the 19 Mediocredito of Italy. The banks provided medium term loan to medium and small companies from their regions. Along with Credito Industriale Sardo and ISVEIMER, they were funded by Cassa per il Mezzogiorno, making the three banks also known as Istituti per il Finanziamento a Medio Terminealle Medie e Piccole Industrie nell'Italia Meridionale e Insulare (Istituti Meridionale).^[3]

Due to Legge Amato, the bank became a limited company (Template:Lang-it) known as IRFIS – Mediocredito della Sicilia S.p.A..^[4] The bank also privatized by the state and acquired by Banco di Sicilia, which in turn acquired by Banca di Roma. Banca Popolare di Novara was a minority shareholder. Its successor BPVN received the stake in 2002 (0.143% in 2003).

The bank became a subsidiary of Capitalia after Banca di Roma was merged with Bipop Carire. In 2007 the bank became part of UniCredit after Capitalia was acquired by the largest bank of Italy. As at 31 December 2007 Banco di Sicilia owned about 76.26% stake in Mediocredito della Sicilia, in turn Banco di Sicilia was a wholly owned subsidiary of UniCredit. The rest was owned by the Region of Sicily (about 21.00%) and others (about 2.74%)

After Banco di Sicilia was absorbed into UniCredit in 2010, the commercial business of Mediocredito della Sicilia was also absorbed by UniCredit on 1 June 2011, which sister company Mediocredito Centrale was also restructured. In 2011 Mediocredito Centrale was sold to the state via Poste italiane (transformed into a development bank of Southern Italy), while Mediocredito della Sicilia was sold to the Region of Sicily on 10 January 2012. The rest of the surviving Mediocredito of Italy were: Mediocredito Trentino – South Tyrol and Mediocredito Friuli – Venezia Giulia which were controlled by the regions, as well as Mediocredito Italiano, a subsidiary of Intesa Sanpaolo; the rest of the Mediocredito were privatized and either renamed or absorbed into private banks.

As at 31 December 2010 IRFIS had a total assets of €584,709,725, which was reduced to €255,801,251 on 31 December 2011; the shareholders equity was reduced from €97,339,642 in 2010 to €9,057,438 in 2011.^[5]

References

^ "2014 Bilancio" (PDF) (in Italian). IRFIS – FinSicilia. 5 May 2015. Retrieved 3 April 2016. {{cite web}}: Unknown parameter |trans_title= ignored (|trans-title= suggested) (help)
^ Caruso, Alfio. "4. La Sicilia e il Piano Marshall". Il piano Marshall e l'economia siciliana, 1947–1952 (PDF) (in Italian). University of Catania. {{cite book}}: Unknown parameter |trans_title= ignored (|trans-title= suggested) (help)
^ Italian Parliament (5 May 1953). "Sviluppo dell'attivita' creditizia nel campo industriale nell'Italia meridionale ed insulare" (in Italian). Italian Republic Official Gazette. Retrieved 3 April 2016.
^ Ministry of the Treasury (4 September 1992). "Approvazione del progetto di ristrutturazione presentato dall'IRFIS - Istituto regionale per il finanziamento alle industrie in Sicilia" (in Italian). Italian Republic Official Gazette. Retrieved 3 April 2016.
^ "2011 Bilancio" (PDF) (in Italian). IRFIS – FinSicilia. 5 October 2012. Retrieved 3 April 2016. {{cite web}}: Unknown parameter |trans_title= ignored (|trans-title= suggested) (help)

External links

Official website Template:It icon

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[1] "2014 Bilancio" (PDF) (in Italian). IRFIS – FinSicilia. 5 May 2015. Retrieved 3 April 2016. {{cite web}}: Unknown parameter |trans_title= ignored (|trans-title= suggested) (help)

[2] Caruso, Alfio. "4. La Sicilia e il Piano Marshall". Il piano Marshall e l'economia siciliana, 1947–1952 (PDF) (in Italian). University of Catania. {{cite book}}: Unknown parameter |trans_title= ignored (|trans-title= suggested) (help)

[3] Italian Parliament (5 May 1953). "Sviluppo dell'attivita' creditizia nel campo industriale nell'Italia meridionale ed insulare" (in Italian). Italian Republic Official Gazette. Retrieved 3 April 2016.

[4] Ministry of the Treasury (4 September 1992). "Approvazione del progetto di ristrutturazione presentato dall'IRFIS - Istituto regionale per il finanziamento alle industrie in Sicilia" (in Italian). Italian Republic Official Gazette. Retrieved 3 April 2016.

[5] "2011 Bilancio" (PDF) (in Italian). IRFIS – FinSicilia. 5 October 2012. Retrieved 3 April 2016. {{cite web}}: Unknown parameter |trans_title= ignored (|trans-title= suggested) (help)

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