The Bank of Italy has decided to place Smart Bank, the digital division of the Cirdan group, under commissionership after only one year of activity. The provision is from a few days ago and provides for the dissolution of the bodies with administration and control functions of Cirdan Group SpA and Smart Bank SpA with headquarters, respectively, in Milan and Naples. […]
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The Bank of Italy has decided to place under administration, after only one year of activity, Smart Bank, the digital division of the Cirdan Group. The provision is from a few days ago and provides for the dissolution of the bodies with administration and control functions of Cirdan Group SpA and Smart Bank SpA with headquarters, respectively, in Milan and Naples. The president of Smart Bank therefore resigns from office Carlo Alberto Carnevale Maffè who teaches “strategy and entrepreneurship” to the Bocconi masters and professes a strenuous liberal faith. Often present in the media and newspapers, Carnevale Maffè usually dispenses good management suggestions and is a tireless singer of the benefits of liberalization and privatization. It is no coincidence that his contributions are often published in the newspaper The paper. Usually very active on The CEO also expires Antonio De Negri, investment banker with background in Citigroup e Barclays. Also among the board members Benedetta Arisi Luciniknown for fierce battles with taxi drivers when he was at the helm of Uber Italia and today at Otter chief a fintech that deals with “democratizing the world of finance”.
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As stated on the website: “Smart Bank was born in 2022 with the aim of becoming one global investment powerhouse”. In an interview with himself, published on the bank’s website, Carnevale Maffé explains: “If we were in the pharmaceutical sector, we are not the small municipal pharmacy, we are Pfizer. Or better yet, we want to become the Apple Watch of investing. They measure pressure, circulation, heart rate. Here it is: a bank tailored to the individual, this time for real. So far, only the surface has been scratched. We are born algorithmic, sustainable and inclusive. We promise the future made today with the tools of tomorrow. Full transparency of finance and investments with ESG criteria within our DNA, and not as an attachment to the balance sheet”.
But it didn’t go exactly the way it was supposed to go. The measure, as stated in the note from the Bank of Italy, has the objective of “ensuring adequate supervision of the group’s operations and restore conditions of sound and prudent management”. The central institute, which maintains supervision of medium-small institutes, did not provide any other information. The extraordinary commissioners identified by via Nazionale are Enrico Ajello and Andrea Guaccero. In the meantime, the two companies “continue their business” and “customers and depositors can continue to operate with the usual confidence”. Smart Bank specializes in offering deposit accounts (those that pay slightly higher interest if you tie up your money for certain periods of time). The rates offered were particularly competitive. In recent months the bank has put it on the market a 20-year deposit accountwith annual interest 7% grosshowever, to be paid in a single payment to expiration of the contract. The one-year fixed account pays 4.3% gross, the five-year 3.6% but there is also an “incremental” version launched one day before the administration.
2023-12-30 14:16:51
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