Banca Ifis, authorized merger by incorporation of Credifarma into Farbanca

Banca Ifis announces that it has been authorized by the Bank of Italy for the merger by incorporation of Credifarma Spa into Farbanca Spa. Thanks to this operation, Banca Credifarma is born: the first specialized center in financial services to pharmacies. The integration represents the completion of the project started with the acquisition of Farbanca in November 2020 and the starting point of a new reality with the best skills in the provision of specialized credit to pharmacies thanks to the development of digital services integrated into a single large operator. “For several years we have gained significant experience in the pharmacy sector, both in terms of market and credit, and thanks to this merger we will consolidate our leadership position in the sector – comments Raffaele Zingone, Joint General Manager and Chief Commercial Officer of Banca Ifis – By integrating two valuable realities within our group, we will be able to face new challenges with greater determination and strength. The prospects for evolution are manifold both for the relevance of the market and for the development potential of the business in terms of products and services, not just financial, dedicated to the broader satisfaction of the needs of pharmacies to allow them to perform the best possible important social role in the territories “. The operation is part of the 2022-24 Business Plan initiatives aimed at further simplifying and specializing the organizational structure of the Banca Ifis Group. The post-integration synergies and cross-selling with all the Group’s financial products will allow Banca Credifarma to further develop commercial coverage in the reference sector. The extension of the investments in digital technology presented in the Business Plan will also accelerate the innovation of processes and the extension of the range of services offered, also thanks to new partnerships and consulting solutions complementary to the satisfaction of the needs of the pharmacy company.