The results for the mid-2023 confirm Banca AideXa’s run in the SME financial services sector. The fintech bank, founded by Roberto Nicastro and Federico Sforza, has now dibursed more than €400 million in loans to Italian SMEs. Thanks to a growing product portfolio and customer base, the bank has almost doubled its growth compared to last year.
In parallel with the increase in the volume of financing, the number of customers reached has increased significantly: To date, more than 7,000 people have trusted in Banca AideXa’s financial products.
At the end of May, Banca AideXa also completed a €20 million capital increase from investors, and welcomed two new partners to accelerate its growth: Confidi Artigiancredito and SEAC S.p.A., leading institutions in the micro-enterprise sector. Banca AideXa’s capital increase is aimed at supporting the growth of SME financing. The pro-forma CET1 capital ratio (April 2023) is above 35% after the capital increase.
2023 also saw the launch of a new product dedicated to entrepreneurs: X Conto, the first fee-free digital current account that allows businesses to earn a return on corporate cash and offers dedicated payment services.
Banca AideXa’s commitment to micro-enterprises does not stop there: the average loan is less than €200,000, which distinguishes it from other operators. The constant refinement of its proprietary X-Score algorithm and the use of its own credit policies allow to combine a rapid growth in loans with a slowdown in the Italian market for loans to SMEs in 2023.
As of April 2023, Banca AideXa’s gross NPLs plus Stage 2 amounted to 6,9% of loans, the NPL ratio net of public guarantees and provisions was 0,3%, and 75% of volumes were publicly guaranteed.
“We opened 2023 with important achievements such as the launch of a new solutions for entrepreneurs. and the competitive positioning of our products. The continued growth is a recognition of Banca AideXa’s determination to present itself as one of the main partners of Italian SMEs.” – Said Federico Sforza, CEO and Co-Founder of Banca AideXa – “In addition, the new capital increase confirms the confidence of our partners in the AideXa project and will allow us to achieve our growth objiectives even faster, with a high-quality ecosystem of associates and partners.”
