Intesa Sanpaolo has always been committed to promoting financial inclusion of social groups with difficult access to credit. The Bank’s commercial offer and services have long taken this criteria into account.
The persistent economic downturn and the consequent slowdown in the production cycle have hindered and in some cases made it difficult to meet the primary needs of families and of the most vulnerable social groups. In this context, Intesa Sanpaolo has continued to guarantee innovative financial solutions by also adhering to different types of support initiatives at the banking system level, such as the set-up of guarantee funds and the option of a temporary suspension of the payment of mortgage instalments for households affected by job losses or pay cuts.
For some time the Bank has envisaged means of renegotiating mortgage terms in order to meet the needs of households requesting to adapt instalments to their changed income-generation capacity, adhering to the initiatives of the banking system to support families in difficulty. Another solution to help households in difficulty is "Rata Leggera", that allows customers, who have contracted mortgage loans for which the repayment period has begun at least 12 months prior and up to date with payments, to suspend the principal portion for a maximum period of 12 months, thus giving them the possibility to meet unexpected expenses as well as to face temporary economic difficulties or to free up household budget resources set aside for consumption and investments so as to improve their lifestyles.
Intesa Sanpaolo is aware that home is a fundamental value for Italians and in 2014 launched "Casa Insieme" ("Home Together"), which aimed to facilitate the matching between supply and demand for new housing, through an action focused on two aspects: financial offer and communication. In 2015 this commitment led to an evolution of this offer and the constitution of Intesa Sanpaolo Casa, a Group's new company whose target is buying and selling of real estate in the residential sector. At the end of the year there were 13 real estate agencies, in Milan, Rome, Turin and Monza, managed by employees and located within Intesa Sanpaolo branches.
Since 2005, as support for laid-off employees, Intesa Sanpaolo has made use of the "Anticipazione Sociale" product, which offers the opportunity to open a time-release credit facility with particularly favourable terms. It can be used until INPS (the Italian Social Security Authority) credits the worker’s current account with the salary integration. Through agreements signed with the Authorities and local institutions in Lombardy, Piedmont, Emilia Romagna, Tuscany and Veneto, the worker does not bear any charges as these are covered by the project partners.
The Bank also joined the project of social initiative promoted by Adiconsum designed to prevent usury and intended for persons and families who, despite having recovered repayment capacity, for previous negative positions do not have access to legal credit. Adiconsum loan is secured by a fund financed by state grants and entrusted to Banca Prossima.
International Subsidiary Banks initiatives Intesa Sanpaolo Bank Albania has created a line of loans to encourage first home purchases by young people and newlyweds, which, in case of difficulty, offers the option of missing an instalment payment three times during the life of the loan. Already since 2013 Banca Intesa Beograd in Serbia has been making loans available with insurance against job loss or disability. The loan offers the option of delaying payment of the instalment five times during the repayment period. VÚB Banka in Slovakia has created a loan for small construction companies which, in partnership with municipal authorities, envisages the construction of flats for rent with support from a state housing fund set up for social housing initiatives. Furthermore, the Bank continues to grant subsidised loans for home purchases to young people (maximum 35 years of age) with limited income. The "fleximortgage young" line offers discounts on the instalment interest rate borne by the Bank and the Slovakian Government, payment suspension options or restructuring of instalments.