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BNP Paribas and the Savings Bank of Florence conclude a new agreement in private banking

In a new agreement, BNP Paribas and the Savings Bank of Florence are joining forces in private banking, consolidating their existing links in other operating domains - consumer credit, life insurance, pensions and benefits.

This agreement, which enhances the private banking offer of the Savings Bank of Florence, provides for personally-tailored portfolio management and technical assistance in legal and fiscal matters for high-net-worth customers.

It enables the Savings Bank of Florence to capitalize on the offering of a highly regarded international management bank and comes at an important time for the Italian institution which is about to open its equity capital to the public.

BNP Paribas Private Banking ranks among the world leaders in the sector, with more than 100 billion euros assets under management.

BNP Paribas is already a significant shareholder in the Savings Bank of Florence - chaired by Aureliano Benedetti, and Lino Moscatelli as CEO - with a 7 % stake in its capital.