Microfinance Focus, November 3, 2011: BNL Bank, a subsidiary of BNP Paribas has acquired a 15% stake in Italian microfinance institution PerMicro for an investment of Euro 1.5 million. The Bank may acquire up to 25% by taking over the MFI’s shares and participating in the capital increase.

Through this partnership, BNL will offer support to the subsidiaries of PerMicro which are present in 12 Italian cities, including the establishment of "PerMicro Point" in the branches of the bank to help increase access to microcredit in the country.

"We are particularly proud of this partnership - said the Managing Director of BNL, Fabio Gallia - because it will help to support personal and business projects of quality, promoting access to credit to the most disadvantaged. With this initiative, BNL confirms its own engagement in the social environment, and takes a position on an area in which BNP Paribas already has long and a solid experience".