The Italian bank Banca Popolare di Sondrio (Pop Sondrio) has concluded an agreement with Promos, the international operations division of the Milan chamber of commerce, to foster the development of Lombardy's small- and medium-sized businesses (SMEs) abroad.
The venture, which will run for three years, is focused on 13 cities, including Budapest, Moscow, New York, Beijing and Sao Paolo.
While announcing the agreement, Pop Sondrio's chairman, Piero Melazzini, stressed his bank's commitment to Milan, where it intends developing its 22-strong branch network. During the first quarter of 2003, he added, the bank's net profit rose by 12 per cent.
Source: Il Sole 24 Ore
