Cooperative credit expands role in Italian economy

Cooperative credit institutions are strengthening their role in the Italian economy. Augusto Dell’Erba, president of Federcasse, reports that while cooperative banks hold approximately 10% of the national banking market, their presence reaches 20% to 25% in strategic sectors such as craftsmanship, tourism, and construction.

Dell’Erba attributes this growth to a banking reform initiated ten years ago, which he states has transformed the sector into a protagonist of the Italian economy by supporting small and medium-sized enterprises and local productive activities.

In a related development regarding credit access, Fabio Petri, president of Artigiancredito, highlighted the importance of digital transformation and rapid response times for businesses. Artigiancredito, which serves 121,000 members, has digitalized over 40 processes to allow entrepreneurs to manage documents and sign financing contracts remotely. The organization provides direct credit for investments, including support for green initiatives.