Banca Ifis is Italy’s challenger bank, focused on providing specialty finance services to the real economy. Founded in 1983, the company is listed on the Milan Stock Exchange and employs around 2,700 people. Banca Ifis’s business model is primarily built on three pillars: commercial and corporate banking services; the acquisition and management of non-performing loan portfolios in the small-ticket unsecured segment (i.e., small consumer credit without public guarantees); and savings solutions for retail customers through a 20-year deposit account called Rendimax. In 2025, the Bank successfully completed the acquisition of illimity Bank via a public tender and exchange offer, marking the start of a new phase of development in which Banca Ifis aims to strengthen its leadership in Italy’s specialty finance market.