Italian banking group Sanpaolo IMI is expanding its services to businesses with the recent introduction of a Ђ250m programme to provide financing for research and development to Italian SMEs.
Loans of Ђ250,000 to Ђ2m will be provided for projects lasting 12 to 24 months and will be open to companies from any sector, except defence, for research likely to lead to quick industrial application.
The board is reviewing the final part of its group rationalisation plan, which includes the transfer of 110 of its branches to its regional subsidiary Cardine, a group of local savings banks in north-eastern Italy, which will in turn transfer 30 branches located elsewhere to the parent group.
