BancoPosta does not have a banking license and cannot directly provide loans to third parties, but is involved in the promotion and placement of public loans granted by banks and financial intermediaries.
The BancoPosta was founded formally in 1999 after the restructuring by CEO Corrado Passera.
The success of the account and the consequent restoration was mainly due to computerization of the 14,000 post offices and creation of a new technology infrastructure (with a total budget of 670 billion lire)[3] which allowed to improve quality and returns.
[2] Since 2001, the bank from a mere asset manager, also becomes a financial intermediary, as it is authorized by the Presidential Decree 144/01 to propose to the public the equities, bonds, shares of investment funds and loans and financing, although with above restrictions: until then the 14,000 post offices could only sell government bonds and those of the privatization.
[2] Article contains translated text from Bancoposta on the Italian Wikipedia retrieved on 17 March 2017.