IRFIS – Finanziaria per lo Sviluppo della Sicilia S.p.A. also known as IRFIS – FinSicilia S.p.A., is an Italian development bank based in Palermo, Sicily. The bank is registered under article 106 and 107 of Testo Unico Bancario (Italian banking law). The bank provided subsidized loans and intermediates for companies to access government incentives.
History
Istituto Regionale per il Finanziamento alle Medie e Piccole Industrie in Sicilia or IRFIS was founded on 31 October 1952 as a statutory corporation,[2] which was one of the 19 mediocredito of Italy. The banks provided medium term loan to medium and small companies from their regions. Along with Credito Industriale Sardo and ISVEIMER, they were funded by Cassa per il Mezzogiorno, making the three banks were also known as Istituti per il Finanziamento a Medio Terminealle Medie e Piccole Industrie nell'Italia Meridionale e Insulare, or Istituti Meridionale in short.[3]
Due to Legge Amato, the bank became a società per azioni, a kind of limited company by shares, known as IRFIS – Mediocredito della Sicilia S.p.A. or just IRFIS S.p.A..[4]