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.
To meet the needs and difficulties of families and the most vulnerable social groups, Intesa Sanpaolo guarantees 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. The offer of mortgages has been renewed and extended, with new solutions that further increase the flexibility of the proposal to customers.
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.