As of October 1, 2007, Banca Nazionale del Lavoro SpA was acquired by BNP Paribas. Banca Nazionale del Lavoro S.p.A. provides banking and financial services to households, enterprises, and public sector organizations primarily in Italy. It accepts various deposit products, such as customer deposits, certificate of deposits, medium/long-term deposits, and other deposits from banks and customers. The bank also offers loans, including short, medium, and long-term financing; mortgage loans; finance lease loans; and other loans to banks and customers, as well as guarantees, such as unsecured guarantees and assets pledged to secure third-party obligations. In addition, it provides financial intermediary services, including factoring, leasing, consumer’s credit, and equity investment management; and involves in asset management, fiduciary management, and provision of insurance services. Further, the company operates in publication and communication, and technology businesses. As of June 30, 2005, it operated 806 bank branches. Banca Nazionale del Lavoro has a joint venture with First Data Corp. to provide merchant acquiring proposition for merchants across Italy, which includes the technical and commercial management of point-of-sale payment transactions. The company was founded in 1913 as Istituto di Credito per la Cooperazione and changed its name to Banca Nazionale del Lavoro SpA. in 1929. Banca Nazionale del Lavoro SpA is based in Rome, Italy.
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