Page 9 - ASSOFIN 2023 preview

ABOUT ASSOFIN
ASSOFIN is an association that represents the main financial operators working in the consumer credit and real estate financing industries.
History
ASSOFIN was founded in January 1992 by nine founding members working in the consumer credit and real estate financing industries. Over the years, the association has grown quickly and now has 59 members, covering most of the consumer credit market and a significant portion of the market of real estate loans disbursed by specialist intermediaries.
Its Members
All Members belong to major Italian or foreign industrial or banking companies and groups, and are all market leaders in terms of business operations and market shares held.
They boast a long-standing tradition in the industry and rely on a strong capital structure, ensuring accountability and dependability. Almost all of them have a nation-wide reach.
Eligibility Criteria
All Association membership applications are examined by the Board of Directors on the basis of rigorous legal requirements and asset-related criteria. There are three types of Members: ordinary, correspondent and supporting.
The following may qualify as ordinary Association Members:
1) Banks, Entities Operating in the Financial Sector pursuant to Article 106 et seq. of Legislative Decree No. 385/1993 (the “TUB”, banking consolidation law), Payment Institutes pursuant to Article 114(1) et seq. of the TUB, and Electronic Money Institu- tes in accordance with Article 114(e) et seq. of the TUB, however established, even if their headquarters are situated in a foreign State, providing they are permanently represented in Italy;
2) Companies:
(a) That are established as limited companies;
(b) That have been registered with the company register for at least thirty-six months;
(c) Whose paid-in capital or total available reserves amount at least to € 2 million;
(d) That have their accounts audited on a compulsory or voluntary basis at least as from the
current year up to the time of application;
(e) That operate on an ongoing and prevalent basis in the area of household lending, whether
related to home loans or consumer credit, payment services, leases, renting and sue of consumer goods, credit and peer-to-peer payment services.
Subsidiaries owned directly or indirectly by other companies, including foreign compa- nies, are also eligible for membership even though they do not meet the requirements as under (b) and (c) above, provided that their share capital and available reserves total at least € 2.5 million and they have been registered with the company register for at least thirty-six months;
3) Companies owning other companies that meet the requirements laid down for ordi- nary members. Companies that do not meet the above requirements but that have
PRESENTATION
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