The bank provided subsidized loans and intermediates for companies to access government incentives.
Istituto Regionale per il Finanziamento alle Medie e Piccole Industrie in Sicilia or IRFIS was founded on 31 October 1952 as a statutory corporation,[2] which was one of the 19 mediocredito of Italy.
Along with Credito Industriale Sardo and ISVEIMER, they were funded by Cassa per il Mezzogiorno, making the three banks were also known as Istituti per il Finanziamento a Medio Terminealle Medie e Piccole Industrie nell'Italia Meridionale e Insulare, or Istituti Meridionale in short.
[3] Due to Legge Amato [it], the bank became a società per azioni, a kind of limited company by shares, known as IRFIS – Mediocredito della Sicilia S.p.A. or just IRFIS S.p.A..[4] The bank also privatized by the state and acquired by Banco di Sicilia, which in turn acquired by Banca di Roma.
[9] UniCredit also announced to sell IRFIS – FinSicilia to Banca Popolare di Vicenza.