Home » Barrese: “Intesa Sanpaolo ready to accompany companies in the transition”

Barrese: “Intesa Sanpaolo ready to accompany companies in the transition”

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I am optimistic and I am on the basis of the facts that, as Banca dei Territori, we detect every day through our relationship with companies. There are some assets in which companies will have to invest and which Intesa Sanpaolo intends to accelerate by making available 410 billion euros in disbursements to businesses and households over the period of the NRP, that is until 2026. Digitization is one of the decisive assets and therefore we have devised, as part of the Motori Italia program launched last March, a new financing solution, Digital Loans, to accompany and accelerate the transformation processes of SMEs. The ceiling is 4 billion and within we have cut out specific chapters on training, because the subject of skills is fundamental in the digital transformation of the country. Not surprisingly, it is one of the four areas of intervention on which the agreement that the Group recently signed with Confindustria is based, to make 150 billion available to businesses.

Can some critical elements, such as scarcity of raw materials or energy costs, jeopardize recovery and transformation?

I would keep two issues separate: that of energy costs in my opinion is transitory. It is not the first time that our country has faced significant fluctuations in the cost of energy. On the subject of raw materials, however, companies will have to reflect and reconsider the size of stocks. For years, a production model has prevailed that favored light warehouses or even zero warehouses. Not that it was wrong, but in the face of the supply crisis, companies that did not have stocks found themselves forced to stop or slow down production and consequently to fulfill orders late. This risks creating enormous damage. Today the priority must be to guarantee the continuity of supplies, to prevent large American, German, Japanese or even Chinese multinationals from turning to companies from other countries. At the same time, in this crisis I also see an opportunity: only from the reconstruction of stocks do we estimate a potential that is worth one point of GDP.

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Isn’t there a risk that companies will find themselves with warehouses full of components paid for at very high prices, which in the meantime will have lost value?

The point now is to decide whether to go back to the old models or innovate them. A certain volume of inventory is needed to deal with possible supply chain blockages such as the ones we are witnessing. One solution could be the sharing of warehouses, perhaps at the level of the supply chain. There is also a lot of discussion about the reshoring of some basic productions: it is an important issue, also linked to issues of a geopolitical nature. To reduce dependence on third countries, which could turn off the taps from one day to the next, the European Union should create greater cohesion within itself or at the transatlantic level, not to close itself within borders, but to move synergistically. and be as autonomous as possible at least on the most important fronts, such as energy or supplies.

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