The Credito Valtellinese cooperative banking group is listed on the Italian Stock Exchange’s MTA and has over 150,000 partners and shareholders. It has a presence in 11 regions in Italy, with over 500 branches divided between its constituent regional banks: Credito Valtellinese, Credito Siciliano and Carifano. The group has around 4400 employees. The Credito Valtellinese cooperative organisation was founded in Sondrio in 1908, following the cultural tradition of popular Catholicism. It has always pursued a development model intrinsically linked to socioeconomic progress and the development of the regions with which it has historic links. In keeping with these core principles, the Creval Group’s banking operations are mainly oriented towards families, SMEs, artisans, professionals and – partly out of tradition and partly by vocation – non-profit institutions. This “intangible” legacy is constantly expanding, with nearly 920,000 banking relationships currently active. The globalisation of SMEs is a significant challenge and one that Credito Valtellinese has decided to tackle with the same innovative, decisive spirit that has made the institution one of the most dynamic in the country over the course of the past century. More specifically, the objective of services offered to the foreign division is to satisfy and promote companies’ desire to export and to assist them with day-to-day operations on the international markets, providing efficient, competitive solutions designed on a bespoke basis to fit the requirements of SMEs, which make up the spine of the Italian economy. The Creval offering is targeted both at companies intending to enter the world of international trade for the first time and those organisations who wish to consolidate the range of action of their activity or evaluate the possibility of investing abroad. The banks in the group position themselves as trusted, attentive partners ready to supply all the necessary consultancy and assistance and to guide clients towards the best product or solution. It is a carefully moulded, highly specialised service offering capable of dealing with any requirement, attempting to strike the perfect balance between set objectives and a sustainable level of risk for every company. Companies who work with Creval will be able to draw on the vast network of branches of banks belonging to the group, which are located from Lombardy to Sicily. The group also has a consolidated network of contacts with prestigious banks in key countries for the Italian export market, in addition to a team of professionals with proven experience in managing issues relating to internationalisation, from ordinary exchange operations to more complex, structured operations. The comprehensive range of services on offer is constantly being updated, just as innovative new products appear on the market. Creval’s overseas services include: • standard operations such as the negotiation of cheques and foreign effects, bank transfers, electronic payments incoming for some countries. • so-called “foreign-goods” activities, such as collecting and negotiating documented practices, issuing and negotiating documentary credits, providing confirmation for export credits issued by a vast number of banks around the work; • forfaiting in Euros, i.e. the discount of our own future short-term payment obligations and those of other banks; • non-recourse discount in Euros of medium- to long-term credit insured by the SACE Supplier Credit Policy by the transfer of the policy in favour of the bank and the disinvestment, with no recourse, of the effects in favour of the exported; • all kinds of international banking guarantees (Bid bonds, Performance bonds, Advance Payment bonds, etc.); • advance payments on overseas invoices and contracts; • short-, medium- and long-term loans for internationalisation, guaranteed pro-rata by SACE; • subsidising financing for specific categories of clients and for particular needs.