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ANIF signs MoU with Intesa Sanpaolo to channel Italian investors to Armenia

08/10/2021

We are pleased to announce, that Intesa Sanpaolo S.p.A. (ISP) and Armenian National Interests Fund (ANIF) signed a memorandum of understanding (MoU) in Rome on October 7, 2021. According to the MoU, the Parties expect to mutually cooperate on projects in which Italian companies are involved as exporters and/or investors in Armenia for the purpose of financing of such projects through ANIF and ISP.

The signing of MoU was part of the first state visit of the Armenian President to Italy. The agreement between the largest Italian bank and ANIF will open new economic opportunities between two countries.

CEO of ANIF, David Papazian, commented: “We are happy for this opportunity to explore the untapped potential of the economic cooperation between Armenia and Italy. We believe there are underused opportunities in this area and our cooperation will aim to utilize that potential, ensuring lasting economic benefits for Armenian and Italian business and stronger economic ties between our two countries”.

About Intesa Sanpaolo

The Intesa Sanpaolo Group is one of the top banking groups in Europe and is committed to supporting the economy in the countries in which it operates, specifically in Italy where it is also committed to becoming a reference model in terms of sustainability and social and cultural responsibility.

The Intesa Sanpaolo Group is the leading banking group in Italy, with 13.5 million customers and approximately 4,300 branches and it’s the leading provider of financial products and services to both households and enterprises in Italy and has a strategic international presence, with approximately 1,000 branches and 7.2 million customers. It is among the top players in several countries in Central Eastern Europe and in the Middle East and North Africa, through its local subsidiary banks. As at 30 June 2021, the Intesa Sanpaolo Group had total assets of 1,057,595 million euro, customer loans of 463,297 million euro, direct deposits from banking business of 531,612 million euro and direct deposits from insurance business and technical reserves of 204,198 million euro.

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