Allfunds partners with Italy's BCC Iccrea Group as it reports 3.7% AUA rise

Mark Battersby
clock • 5 min read

Allfunds has today (28 July) signed a strategic agreement with Italy's BCC Iccrea Group to acquire the local paying agent business of Iccrea Banca.   The Memorandum of Understanding sees Allfunds acquire Iccrea Banca's local paying agent business (Banca Corrispondente e Banca Agente), with a related exclusivity agreement.  Iccrea Banca is the parent company of Gruppo BCC Iccrea, the largest Italian cooperative banking group, ranked as the fourth largest banking group by total assets (€173.5bn) and third by number of branches in Italy (2,440). BCC Iccrea Group was formed in 2019 as p...

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