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About us

illimity is a new-generation bank. As well as being specialised in its skills and offering, it relies on the best information technology (IT) and guarantees new levels of quality, service and efficiency. All this without ever losing the human connection.

illimity bank

Corrado Passera, founder and CEO, explains how illimity evolved from an idea to an active reality – on the market in just 12 months.

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illimiters Involved in building the new bank

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Investments Made through the SPAC

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Provided in investments to small and medium enterprises

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The portfolio of NPLs

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Users engaged in building the new direct bank

illimity’s story: from concept to reality in less than a year

2018

2019

12 January 2018 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 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.

13 April 2018 The merger of Spaxs and Banca Interprovinciale, a solid and healthy bank with assets of around €1 billion, is announced

08 August 2018 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 A meeting of Spaxs shareholders approves the merger with Banca Interprovinciale and announces the name of the new bank: illimity is born.

December Within three months, illimity acquires the first billion in euros of gross NPLs and takes on over 25 business cases.

05 March 2019 Within three months, illimity acquires the first billion in euros of gross NPLs and takes on over 25 business cases.

Q2 2019 Launch of the new illimity retail offering.

The core values of illimity

Competence and Experience

The support that we offer SMEs, and our Corporate NPL activity, requires significant skills and experience in finance and management. This expertise and knowledge is enhanced by data analytics, machine learning and AI – all areas in which illimity intends to heavily invest.
Courage

We commit to always be more business minded, to have the ability to overcome obstacles and to always try to go the extra mile, turning challenges into opportunities. We aim to overcome prejudices, embrace new solutions, follow new paths. This vision set us apart, especially when it comes to finance solutions for SMEs that have growth potential but a low credit rating, or even those that face challenges.
Independence

A truly independent start-up, not influenced by previous decisions, and free from group or alliance obligations and preconceptions. We go over and above.

Competence and Experience

The support that we offer SMEs, and our Corporate NPL activity, requires significant skills and experience in finance and management. This expertise and knowledge is enhanced by data analytics, machine learning and AI – all areas in which illimity intends to heavily invest.
Courage

We commit to always be more business minded, to have the ability to overcome obstacles and to always try to go the extra mile, turning challenges into opportunities. We aim to overcome prejudices, embrace new solutions, follow new paths. This vision set us apart, especially when it comes to finance solutions for SMEs that have growth potential but a low credit rating, or even those that face challenges.
Independence

A truly independent start-up, not influenced by previous decisions, and free from group or alliance obligations and preconceptions. We go over and above.