“We present this first financial statement at a very difficult time both for our country and the entire international community. In addition to the healthcare emergency, there is an economic one and everyone’s priority must be to embark upon a new phase of sustainable development.”

“In just over a year of existence, thanks to our ability to generate business in all areas of operation, we have built the foundations for future development. These results are rooted in our mission, which aims to recognise and enhance the potential of individuals, families and businesses, and which inspires the work of us illimiters every day.”

Corrado Passera

CEO illimity

Highlights

We are a new paradigm bank specialising in corporate credit, the purchase and servicing of distressed loans and direct banking services.

0

billion euros

in assets as a result of growth in net loans to customers and investments

0

billion euros

total direct deposits

0

million euros

deposits made with illimitybank.com – the new digital direct bank

B/E

Breakeven

by the income statement in the fourth quarter 2019, net non-recurring items

>21%

CET1 Ratio

confirming the solidity of the bank with liquidity to invest in future growth

Our offer
SME
illimity for Small and Medium Entreprises

“We look for potential, even where it seems that complexities and discontinuities can limit the development of a business. We are building an “Italian lender” specialising in SMEs, focusing on crossover, acquisition finance, turnaround and supply chain factoring. Our business model combines banking and industrial expertise using a network of Tutors – experts in specific sectors – and the most advanced technologies, as well as extensive use of data.
During the first year of operation, we created an extraordinary team. This team is our strength and we are pleased with what we have accomplished so far. In fact, we have demonstrated our ability to generate and implement business in all the areas of activity on which we have decided to focus.”

Enrico Fagioli

Head of SME

26
Million euros former Banca Interprovinciale
11
Million euros Turnaround
674
Million euros Crossover and Acquisition Finance
+500
Million euros Factoring
Our offer
Distressed Corporate Credits
Distressed credits as an opportunity

“We are focused on the distressed corporate credit segment. During the year, we were among the most active operators on the Italian market and we launched our servicing company neprix. We are a fully integrated player covering the entire value chain, from investment to financing to servicing and remarketing, and our business model has recently been strengthened by the acquisition of IT Auction, Italy’s leading online auctioneer of capital goods and real estate. ”

Andrea Clamer

Head of Distressed credit Investment & Servicing

1.2
Investment transactions for a total of 720 million euros, of which 630 million applied to 2019
390
Billion euros nominal GBV stock
832
Senior financing transactions fo r a total of 390 million euros, of which 51 million applied to 2018
8
Billion euros assets under management, between assets and receivables
Our offer
Direct Banking
A state-of-the-art digital bank

“The launch of the digital bank in September was a huge success. We have achieved something unparalleled in the marketplace, offering a cutting-edge, fully digital customer experience via an open architecture that makes us the first ecosystem bank and “account aggregator” within PSD2. We have also maintained the human touch with a contact centre open 7 days a week. illimitybank.com conveys an image of positivity, energy and comprehensiveness. These have all been reflected in our results, which exceeded our best expectations.”

Carlo Panella

Head of Direct Banking and Digital Operations

731
Million euros direct deposits
24000
Retail customers of which 81% active
81%
Deposits activated abroad
Our offer
SME
illimity for Small and Medium Entreprises
26
Million euros former Banca Interprovinciale
11
Million euros Turnaround
674
Million euros Crossover and Acquisition Finance
+500
Million euros Factoring
leggi il commento di Enrico Fagioli
Distressed Corporate Credits
Distressed credits as an opportunity
1.2
Investment transactions for a total of 720 million euros, of which 630 million applied to 2019
390
Billion euros nominal GBV stock
832
Senior financing transactions fo r a total of 390 million euros, of which 51 million applied to 2018
8
Billion euros assets under management, between assets and receivables
leggi il commento di Andrea Clamer
Direct Banking
A state-of-the-art digital bank
731
Million euros direct deposits
24000
Retail customers of which 81% active
81%
Deposits activated abroad
leggi il commento di Carlo Panella

“We look for potential, even where it seems that complexities and discontinuities can limit the development of a business. We are building an “Italian lender” specialising in SMEs, focusing on crossover, acquisition finance, turnaround and supply chain factoring. Our business model combines banking and industrial expertise using a network of Tutors – experts in specific sectors – and the most advanced technologies, as well as extensive use of data.
During the first year of operation, we created an extraordinary team. This team is our strength and we are pleased with what we have accomplished so far. In fact, we have demonstrated our ability to generate and implement business in all the areas of activity on which we have decided to focus.”

Enrico Fagioli

Head of SME

“We are focused on the distressed corporate credit segment. During the year, we were among the most active operators on the Italian market and we launched our servicing company neprix. We are a fully integrated player covering the entire value chain, from investment to financing to servicing and remarketing, and our business model has recently been strengthened by the acquisition of IT Auction, Italy’s leading online auctioneer of capital goods and real estate. ”

Andrea Clamer

Head of Distressed credit Investment & Servicing

“The launch of the digital bank in September was a huge success. We have achieved something unparalleled in the marketplace, offering a cutting-edge, fully digital customer experience via an open architecture that makes us the first ecosystem bank and “account aggregator” within PSD2. We have also maintained the human touch with a contact centre open 7 days a week. illimitybank.com conveys an image of positivity, energy and comprehensiveness. These have all been reflected in our results, which exceeded our best expectations.”

Carlo Panella

Head of Direct Banking and Digital Operations

From idea to reality in less than a year:

now is the time for real change.

18 January 2018

Spaxs was born

Establishment of Spaxs, the first Italian special-purpose acquisition company, to pursue an investment project aimed at the creation of a new player in the banking sector.

1 February 2018

Spaxs quotation

With and institutional placement of €600 million, mostly from foreign investors, Spaxs is established as the first Spac by size in Europe and is listed on AIM segment.

8 August 2018

illimity was born

A meeting of Spaxs shareholders approves the merger with Banca Interprovinciale and announces the name of the new bank: illimity is born.

20 September 2018

illimity starts operating

The acquisition of Banca Interprovinciale is completed and illimity begins to operate on the market.

5 March 2019

illimity quotation

The merger between Spaxs and Banca Interprovinciale becomes effective, and illimity debuts on the MTA italian Stock Exchange.

5 April 2019

illimity presents neprix

Illimity introduces neprix, an Distressed Credit innovative servicing platform with a focus on Corporate clientele.

15 May 2019

illimity in partnership with Raisin

illimity’s deposit accounts is now available cross-border.

25 June 2019

Acquisition of IT Auction

illimity enters an agreement for the acquisition of IT Auction, wich, combined with neprix, create the first end-to-end operator specializing in Corporate Distressed Credits.

12 September 2019

Welcome illimitybank.com

Welcome illimitybank.com, the digital direct bank for individuals, families and businesses that aims to simplify people's lives thanks to state-of-the-art technology and a strong human dimension.

27 June 2019

Vai oltre la forma

Launch of the direct banking for the first ambassadors of the community Vai oltre la forma. The digital direct bank, the third branch of illimity, launched.

The Glance
Our campaign on our story
We chose to tell our story through a metaphor. The Glance represents the power to look beyond, to turn obstacles into opportunities, to give shape to our potential. Each of us remembers a significant look that at some turning point in our life helped us overcome a particular difficulty or accept a challenge that at first seemed impossible. illimity was born from that experience.