Ifis Integrity

We are committed to developing and disseminating the company’s culture and values, both internally and externally, and to pursuing the fight against corruption with integrity.

We consider integrity a fundamental value and this is why we work in compliance with tax regulations. We are certain of the importance of our role within the community in which we operate and are aware that tax revenue is one of the main sources of contribution to the economic and social development of Italy, the country in which we mainly carry out our business.

The approved Consolidated Financial Statements confirm the positive impact of the Banca Ifis Group for 2019, in which EUR 53 million in direct taxes were recorded, almost all of which in Italy.
In addition to these, there is the payment of withholding tax and contributions for over 1,700 employees.

From an operational point of view, we have created internal guidelines and a dedicated team for the standardised central management of the Banca Ifis Group’s taxation to ensure the correct and timely payment of taxes and tax obligations.
For any issues of particular importance, we seek the opinion of external professionals or consult the competent financial administration through the legally permitted procedures.

We guarantee full cooperation, transparency and fairness in our relations with the Tax Authorities and we undertake not to opt for aggressive tax practices and not to support third party tax avoidance models.

We ensure that all employees receive appropriate training on anti-corruption policies and procedures. We have set up a special e-learning course on the IFIS Talent platform as part of the compulsory training of the Bank’s employees.

Number and percentage of employees who have received anti-corruption training, broken down by classification category



Senior managers (N.)



Senior managers (%)



Middle managers (N.)



Middle managers (%)



Office employees (N.)



Office employees (%)



Total (N.)



Total (%)



In addition to establishing rules of conduct for employees, we also ensure the behavioural integrity of the collection agents and companies. Various controls have been implemented for this reason, including the obligation to comply with the Code of Ethics and the control of the number of mandates. In 2019, as in the previous year, there were no incidents of corruption or legal cases brought against the employees of the Group or external networks.

We have set up an internal monitoring system that allows anything that may constitute a violation of the law and of internal procedures to be reported, while guaranteeing the confidentiality of the personal data of the person doing the reporting and of the presumed perpetrator of the violation.

Read the Whistleblowing Group Policy.

Credit quality is closely related to capital strength, a key element for the sustainability of the business model and the basis of the Group’s strategy. In the case of Trade Receivables, the Group’s commitment to safeguarding its capital position and credit quality translates into three levels of counterparty checks, so as to prevent the risks of default as well as of involvement in transactions with potentially damaging reputational consequences.

We consider the protection of personal data a mandatory principle and a key aspect for building trust and developing a sense of security with customers as well as protecting the Group’s reputation. We are also committed to preventing and managing information security incidents in a timely manner in order to protect the Bank’s proprietary information, which includes, among other things, the data of customers, employees, suppliers, and any other party with which we do business. In 2019, we further consolidated the safeguards required by the European Data Protection Regulation.

To raise awareness of cyber security among all colleagues, a series of news publications on the company intranet was launched in 2019 to draw attention to malware, phishing, attempted fraud and ransomware through e-mail.

Cyber Intelligence services and OSINT – Open Source Intelligence research – were also implemented to support activities and promote the company’s internal awareness. The Bank joined the CERTFin service in order to receive, in real time, reports of attempted fraud in the banking sector.

Transparency and engagement have always been the hallmarks of the process for communicating information about the Parent company and the other entities. We engage with customers, investors, shareholders, and employees, identifying their different needs through, for instance, customer care services on social networks, websites, projects, and events.

In addition, the Bank strives to provide the best possible experience to the parties it engages with as well as address doubts and requests for information as quickly as possible. Brand reputation is monitored also with specific dedicated tools. To assess the level of reputational risk, we routinely conduct a Risk Self Assessment taking into consideration both internal and external factors that could damage the reputation of the Group and of the stakeholders.

Ifis customers

The customer always comes first and foremost. With our working model, we are committed to supporting entrepreneurship and improving the financial inclusion of people.

We offer services and financial instruments that allow customers who are Small and Medium-Sized Enterprises (SMEs) to grow in a healthy way, guaranteeing daily support throughout the country. With financial inclusion, we also help businesses and families to meet their debts within terms suited to their real situation.

“Fattore I” is the project that reflects our desire to assist Italian companies, in particular SMEs, by analysing the reality behind the data. The aim is to discover the factor that determines the success of an enterprise. A key element of the project is the SME Market Watch, the observatory run by the Banca Ifis Studies Office that investigates and identifies the needs and trends of Italian SMEs and production sectors.

We also offer our customers products and services with a social purpose (see page 48), such as training in the commercial strength of companies, the SME Guarantee Fund, and Assisted Finance Leasing.

Lega Entity / Business Line

Product / Service with Social Purpose

Number of Practices (operations of the year 2019)

Amount Financed in millions of euros (operations of the year 2019)

% vs. overall practices (operations of the year 2019)

Number of Practices (stock end of year 2019)

Residual capital in millions of euros (stock end of year 2019)

Banca Ifis / Leasing

Financial leasing associated with the Nuova Sabatini facility






Banca Ifis / Leasing

Financial leasing associated with MCC Guarantee Fund (data from November 2019)






Banca Ifis / Trade receivables

M/L financing assisted by the MCC Guarantee Fund






Click here to download the table in PDF.


In 2019, information for entrepreneurs and SMEs continued to be offered through dedicated portals:

  • MondoLeasing: online magazine and platform for open discussion with experts and operators on the latest news relating to financial products. The opinions and contributions of leading professionals in the leasing sector and the essential related issues are collected internally for the purpose of dissemination;
  • MondoPMI: blog on the main issues faced by people whose daily lives revolve around small and medium-sized enterprises. It provides food for thought on topics of corporate strategy, finance, innovation and everything that can be useful for those who run their own businesses.

We help to promote managerial culture and raise awareness of the value of experience, new technologies and tools to support growth, through numerous initiatives on a local level.

  • New #TourPMI: is a method of research and analysis in the world of business created by Banca Ifis to stimulate fruitful collaboration between universities and Small and Medium-Sized Enterprises. Some students taking a degree in Economics at Ca’ Foscari University in Venice and Communication at the University of Padua, joined companies to enter into a constructive and stimulating discussion. The collaboration process culminated in a workshop, during which students and researchers from partner universities met entrepreneurs and managers of SMEs to present business and communication assessments carried out for them.
  • Fintechnology community:this is a cycle of events, in collaboration with TEHA Ambrosetti, that brings financial players and institutions together to look at the impact that technofinance has on the market and the opportunities and risks associated with it.
  • We sponsor events organised throughout Italy by professional and trade associations, Universities, and Research Centres on topics such as corporate crises, bankruptcy laws, and the relevant proceedings-contributing to the development of a business culture and raising awareness on specific issues.
  • Manifatture aperte: in 2019 we took part, as the main sponsor, in the initiative promoted by the Municipality of Milan with the aim of bringing the protagonists of Milanese manufacture, craftsmanship and digital fabrication back to the centre of the debate, through a programme of visits, meetings, and workshops with the possibility to access and visit the workshops of Milanese industry.

Through Credifarma and in collaboration with Federfarma, we are also involved in initiatives on a local level that aim to benefit pharmacies, with the exchange of experiences and innovative tools to support the development of businesses.

  • Inspiring the Future Pharmacy: we have developed a path of co-creation and exchange to identify the future trends of Italian pharmacies, in terms of services and products offered but also in terms of physical spaces.
  • Credifarma on the road: we host meetings all across Italy to present financial solutions tailored to pharmacies and discuss the main issues facing the industry.

The development of digital innovation is one of the key ways of implementing the Group’s strategy, the key aims of which are to expand the offering of the Bank’s products to entirely digital sales channels, improve the user experience for all types of users, and streamline and digitise internal processes.

During the year, we introduced innovative digital functions that focus on the initial stages of first commercial contact or of an established relationship. We have also undertaken the progressive digitisation of processes, aimed at increasing efficiency, reducing operational risk and achieving better effectiveness in the sales process. The latest innovations are also at the service of our employees. In 2019, the Ifis4You intranet was developed to optimise internal processes, producing tangible savings in terms of resources also over time. In May, the “Digital collaboration” project was also launched. This is a new work hub that promotes the diffusion of an innovative corporate culture and gives all employees the opportunity to use modern tools to better manage and organise their work and time.

We offer many products of recognised quality: we are committed to the study, design and testing of these, always in line with market needs and at the very highest standards. We are also committed to ensuring a high standard of service for our customers, with fast and timely response which has made us stand out in the market.

We establish direct relationships with our customers and operate in accordance with the principles of professionalism, honesty and transparency, providing detailed information on the commitments undertaken and on any risks relating to transactions. All reports and communications are written in a clear and comprehensible manner, allowing the customer to understand them in full.

In the context of NPLs, we have taken another measure to ensure the transparency of the agent-customer relationship. At the end of each visit, the customer signs the “Minutes of the visit” which summarises what happened during the meeting and the agreements made.

In 2019, there were no instances of non-compliance with regard to transparency.

Number of incidents of non-compliance regarding transparency




In the context of information on products and/or services




In the context of advertising communications




Click here to download the table in PDF.


We have also adopted procedures for the handling of complaints (see page 58). The dedicated department receives and manages complaints with the utmost diligence and impartiality, and informs and involves the business units concerned when necessary. The Complaints Office reports functionally to Compliance and operates according to the guidelines provided by Compliance.

Ifis people

Our people play an essential part in all our activities. We promote the value, development, training, inclusion and well-being of all employees.

We offer our employees a comprehensive benefit platform, focusing on care and protection, and a series of welfare initiatives.

We support the growth of the Bank and its resources and market leadership, guaranteeing high levels of expertise and continuous professional development: this is the mission of IFIS LEARNING ACADEMY.
The Academy offers specific development paths through a faculty which focuses on “Business acceleration”, “People acceleration”, “Operational effectiveness” and “Digital innovation”.

The Group is constantly engaged in its commitment to maintain and increase its levels of employment. New resources brought on board as a result of the company’s acquisitions are given professional training and refresher courses suited to their new roles. A strong emphasis is placed on integration of the people within the Group, standardising the methods, processes and work tools and sharing the Group’s objectives and values.

In 2019, the Group carried out 31,897 hours of managerial, technical and professional training, as well as training in health and safety and anti-corruption policies/procedures.

Average hours of training per capita (h)




By gender









By professional category

Senior managers




Middle managers




Office employees








Click here to download the table in PDF.


The “Operational Effectiveness” faculty provides specific onboarding programmes for new recruits, aimed at fostering the integration of the individual within the Bank’s organisation and relevant structure, and also sharing of the corporate culture. 245 new recruits took part in the process in 2019.

Ifis Talent is the platform designed to improve recruitment, development and management processes. Employees are provided with specific tools for all processes related to the management of Human Resources.

The Bank promotes a culture of feedback. IFIS Talent, in addition to the tools for the annual evaluation of employees, has an area dedicated to Continuous Feedback. This allows managers to give regular feedback to their employees on objectives achieved, skills acquired and areas for improvement.

The quality of work and commitment to the digitisation of processes related to Human Resources has also been recognised by the HR Innovation Practice Observatory of the University of Milan. Banca IFIS, in fact, was rewarded for its efforts, winning the HR Innovation Award 2019 in the Performance Management category.

The Group promotes an environment that fosters diversity and inclusivity, combating all forms of nepotism and favouritism. As clearly stated in the Code of Ethics, all Group employees shall maintain the highest standard of conduct, respecting the dignity of everyone.

Breakdown of employees




By gender


807 (46%)

746 (46%)

677 (46%)


946 (54%)

892 (54%)

793 (54%)

Age groups

Less than 30 years old

211 (12%)

193 (12%)

249 (17%)

Between 30 and 50 years old

1.253 (71%)

1.180 (72%)

994 (68%)

More than 50 years old

289 (16%)

265 (16%)

227 (15%)





Click here to download the table in PDF.


With regard to the gender of employees, 54% are women and 46% are men and, more specifically, 41% of employees in positions of responsibility (Managers and Middle Managers) are women. These percentages are in line with previous years.

The ratio of the basic salary of women to that of men by professional category is constantly assessed and monitored by the Bank.

Ratio of basic pay for women and men by occupational category




Senior managers




Middle managers




Office employees




Ifis responsibility

We create value on a local level: we are engaged in activities of value to communities and the environment.

As a Bank, we pursue the model of sustainable finance through controls aimed at mitigating potential negative impacts on the environment and society and the development of products that promote sustainable behaviour.

In 2019, Banca Ifis undertook an important project to promote sustainable mobility: Ifis Leasing Green. It is a package of services entirely dedicated to those who want to invest in hybrid or electric vehicles. To develop its offer, Banca Ifis partnered with the main operators of electric mobility in Italy: Enel X, E-GAP and e-Station.
The table shows the data of the project:

Legal Entity / Business Line

Product / Service with Social Purpose

Number of practices (operations of the year 2019)

Amount financed in millions of euros (operations of the year 2019)

% vs. overall practices (operations of the year 2019)

Number of practices (stock end of year 2019)

Residual capital in millions of euros (stock end of year 2019)

Banca Ifis / Leasing

Financial leasing associated with the Nuova Sabatini facility

1.216 (2018: 1.332)

97,69 (2018: 103,13)


3.498 (2018: 2.397)

209,26 (2018: 159, 34)

We pay particular attention to strengthening our relationship with the communities in which we operate and with stakeholders at the regional and national level, demonstrating not only our desire to promote entrepreneurial development and to spread the business culture, but also our commitment to support bodies and associations engaged in social work. We carry out projects with schools and universities and open the Bank’s premises to initiatives and events of interest to the public or to the business community.

In 2019, 17% of the total number of events which the Bank organised, played an active part in or sponsored, involved local communities in the areas concerned. The activities were purely for charitable, social, informative or educational purposes. Communities accounted for 66% of the bank’s sponsorships with a total of 171 thousand euros. In 2019 we sponsored, among other things, the Convegno Nazionale di Contabilità Pubblica (National Conference on Public Accounting), organised by the Ca’ Foscari University of Venice and, again as a sponsor, we supported the Mestre Festival of Politics, which aims to foster debate on the main political, economic and social issues of the Italian and international scenario.

In 2018 and 2019, we celebrated the beauty of Italy and its cities through the new initiative #RaccontamItalia. The purpose of the project was to promote Italy and its local businesses through storytelling. The project visited 19 cities, received over 200,000 hits, and was extensively covered in the local media.

We are committed to spreading and consolidating a culture of environmental protection, developing awareness of environmental aspects and promoting responsible behaviour through information and training.

Our growth path in an eco-sustainable perspective is represented by #ifisgreen. The project involves a series of initiatives that support the environment and sustainable development and represents our commitment to achieving the European target of a 40% reduction in emissions by 2030.

Breakdown of energy consumption by source (GJ)






Natural gas consumption for central heating



Gasoline consumption for the vehicle fleet



Diesel consumption for the vehicle fleet



Total fuel consumption



Consumption of purchased electricity (non-renewable)



Consumption of energy from solar panels (renewable)



Total electricity consumption



Comparison of paper consumption and indirect impacts



Paper consumption (T)



Trees (units)



Energy (kwh)



CO2 emissions (t)



Wastewater (m3)



Solid waste (kg)