The former CEO of Italy’s Intesa Sanpaolo and a former minister of economic development, Corrado Passera, founded Illimity in 2018 to focus on small and medium-sized enterprises (SMEs), a segment, he says, that tends to be underestimated by traditional banks. In an interview with The Banker, he talks about the changes in Italian banking, how politics should prioritise fiscal incentives to support growth, and the need for a closer Europe.
Q: Does Italy need yet another bank?
