Italy’s Banca IFIS has entered a vendor finance partnership with yellow goods manufacturer Jungheinrich in the country.
The agreement with national distributor Jungheinrich Italiana will cover leasing offers with a final purchase option. The Banca IFIS referral channel will sit along Jungheinrich’s existing brokerage and own-book funding capabilities.
Jungheinrich has seven directly-owned dealerships spread across Italy’s main urban centres, as well as two franchised regional distributors.
Massimo Macciocchi, head of leasing at the Banca IFIS Impresa asset finance unit, said: “The agreement with Jungheinrich Italiana is an important and prestigious business opportunity, as well as a strong acknowledgement of the support provided by Banca IFIS to local enterprises and the real economy.
“The partnership is testament to how Banca IFIS is an increasingly high-profile presence among enterprises, both in terms of access to innovative financing solutions and the face-to-face, two-way relationship approach with a team of professionals ready to listen to the needs of Italian producers.”
“We have laid the foundations for a constructive collaboration from leader to leader.”
Banca IFIS’s 30-year-old Impresa business lending unit entered the leasing market last year with the acquisition of GE Capital’s Italian portfolio. Banca IFIS also has a business lending subsidiary in Poland, named IFIS Finance.