Italian bank inks pact with SBI

Banca Popolare di Vicenza,has signed an agreement with SBI for closer co-operation and bilateral trade.

Italian bank,Banca Popolare di Vicenza (BPVI),has signed an agreement with State Bank of India (SBI) for closer co-operation and growth of bilateral trade.

“BPVI has become the first Italian bank to sign a co-operation agreement with State Bank of India,the largest Indian commercial bank. The bank expects this will help us in helping each other’s customers in exploring opportunities in Indian and Italian markets,” BPVI Chief Executive & General Manager Samuele Sorato told reporters in Mumbai on Friday.

BPVI’s focus on small-and-medium-sized companies in Italy has helped the bank in improving results in the last fiscal despite turbulence in financial markets,Sorato said.

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The BPVI’s aim for the next few years is to consolidate its acquisitions and focus on traditional banking to offer services both to private and corporate customers,the CEO said.

The bank is happy with the progress it has achieved in India in the last three years. The bank’s business has grown manifold in this period,BPVI Manager,International Relations & Correspondent Banking,Fausto Maritan,said.

He hoped that after the agreement with SBI,BPVI will be able to assist more Indian and Italian entrepreneurs interested in forging ties with companies in the European country.

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