MILAN (Reuters) -Italian challenger bank Banca CF+, backed by U.S. hedge fund Elliott Management, could consider a bourse listing in the next five years, its chief executive said on Thursday.
The specialist lender, formerly known as Credito Fondiario, sees opportunities to expand its business product offering through acquisitions, CEO Iacopo De Francisco told a press conference to present the bank’s new name and strategy.
Banca CF+ said it aimed to achieve 4.2 billion euros of assets under management in 2026, with a return on average equity (ROAE) of around 23%.
“This is a bank that wants to compete with the traditional banking system that pays little attention to the small and medium enterprises,” De Francisco said.
Elliott holds an 88% stake in Banca CF+, which has a strong focus on technology and offers financing to SMEs.
Last summer, Credito Fondiario spun off its non performing credit management unit, which was renamed Gardant.
(Reporting by Elisa Anzolin; Writing by Federico Maccioni; Editing by Valentina Za, Kirsten Donovan)
