Alba Leasing and EIB signed €95 million loan guaranteed by SACE for new leasing schemes targeting SMEs

Milan, Italy, 05-12-2013 — /EuropaWire/ — Alba Leasing – a major financial leasing company – and the European Investment Bank (EIB) have signed a €95 million loan guaranteed by SACE for supporting new leasing schemes targeting SMEs.

These new financial resources will be used to develop Alba Leasing’s business – in line with the corporate funding objectives set out in the 2013-2016 industrial plan – and deployed on the credit market in support of small and medium-sized firms.

This operation reinforces Alba Leasing and the EIB’s already strong three-year relationship, which has seen the conclusion of financing operations worth a total of some €400 million.

At a time when businesses’ success depends increasingly on their ability to raise funds, this operation confirms the effectiveness of the strategic partnership between the EIB and SACE, which have been working together for some time to facilitate Italian SMEs’ access to credit on competitive terms.

Leasing is one of the principal sources of financing for SME investment: according to the latest survey carried out by the Italian leasing association (Assilea), 34.7% of firms regularly make use of this type of financial instrument.

Note to editor

The European Investment Bank is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

Alba Leasing is a financial leasing company owned by Banca Popolare dell’Emilia Romagna (36.43%), Banco Popolare (32.79%), Banca Popolare di Sondrio (20.95%) and Banca Popolare di Milano (9.83%). Through its network of 4 700 partner branches (including around 3 000 branches of its shareholder banks), in 2012 it signed 8 601 contracts worth a total of €681.8 million. In the first half of 2013 it confirmed its position as Italy’s fifth biggest leasing company, posting growth of 34.02% in volume and 11.53% in contract numbers compared to the same period in 2012 (Assilea’s data).

SACE provides export credit services, credit insurance, overseas investment protection, financial and other guarantees and factoring. With €70 billion worth of operations insured in 189 countries, the SACE Group underpins the competitiveness of firms in Italy and abroad, ensuring more stable cash flows and transforming companies’ insolvency risks into development opportunities

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