Paola Papanicolaou, Head of Intesa Sanpaolo’s International Banks Division
MILAN, March 17, 2025 (GLOBE NEWSWIRE) -- Speaking at the EIB Forum in Luxembourg this month, Paola Papanicolaou, the head of Intesa Sanpaolo’s International Banks Division (IBD), outlined the significant contribution to economic growth in Central and Eastern Europe that the bank has made over the last five years.
Intesa Sanpaolo has signed deals worth nearly €660m in the CEE region over the past five years, in partnership with the EIB. This includes some €370m dedicated to EU candidate countries, such as Serbia, Bosnia-Herzegovina and Ukraine.
In Serbia, Intesa Sanpaolo’s subsidiary, Banca Intesa Beograd, recently partnered with EIB Global to provide €160m from the EU to support investment in the energy transition at Serbian SMEs, fostering sustainable economic growth.
The transaction will benefit around 240 companies and protect approximately 25,000 jobs. Banca Intesa Beograd is Serbia’s leading banking group.
“We believe that our role goes beyond that of a financial institution that just operates transactions, to that of a partner,” Papanicolaou said at the recent EIB Forum. “Intesa Sanpaolo advises and supports the growth of individual companies as well as the wider national economies in which we operate.”
Intesa Sanpaolo’s IBD is deeply embedded in the CEE region through a network of twelve fully-owned banks.
“It’s very important to be on the ground, as we are, to fully understand each country’s needs,” Papanicolaou said. “For example, we are working closely with some countries to support public finance and significant infrastructure projects”.
Another agreement signed in November 2024 saw Intesa Sanpaolo's Croatian bank, Privredna Banka Zagreb (PBZ), receive €169m from the EIB to finance the green transition at Croatian companies. Of this total amount, €100m was earmarked by the EIB as a guarantee line for large enterprises and mid-cap companies, and an extension of an EIF guarantee of up to €69m was made for small businesses in the country. Intesa Sanpaolo’s PBZ is the second-largest bank in Croatia by assets.
Italy is a key trading partner for many EU candidate countries. As the leading Italian financial institution, Intesa Sanpaolo acts as a natural financial bridge between Italy — the second-largest manufacturing economy in Europe — and CEE markets.
Intesa Sanpaolo facilitates international trade, supports SMEs in expanding beyond domestic markets, and fosters cross-border collaborations that drive economic progress. In particular, the bank believes that helping SMEs to expand internationally is a vital contribution to the development of an economy.
The 12 home markets of Intesa Sanpaolo’s IBD are Croatia, Slovakia and Czech Republic, Serbia, Hungary, Egypt, Slovenia, Ukraine, Albania, Bosnia-Herzegovina, Romania and Moldova.
These banks together serve 7.4m customers, with a combined loan book of €45bn and €61bn in deposits.
Intesa Sanpaolo plays a crucial role in these economies, serving individuals, SMEs, corporates, and public sector entities while driving investment and growth.
Contact: international.media@intesasanpaolo.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b9897a34-ccf2-4423-8cc4-3d0427433a18
