KEY PROJECT is the Deposit Account reserved to foreign clients of Banca Progetto. It offers the most competitive interest rates in the European market.
KEY PROJECT steams form the collaboration between Banca Progetto and Raisin, a leading platform for investments throughout Europe, that gives access to exclusive offers from all over Europe.
Banca Progetto has recently been acquired by Oaktree Capital Management L.P., one of the largest institutional investors in the world with about $ 100 billion assets under management.
Oaktree has become, through its investment funds, the majority shareholder of Banca Progetto, which now holds 91.14% thanks to the recapitalization of the Bank for approximately € 40 million, with plans to provide an additional contribution of equity for € 16 million by the end of the year. The new resources, amounting to approximately € 55 million in total, will be used to implement the new business plan which envisages the transition from current generalist bank into a bank predominantly specialized in funding medium and small Italian companies and, selectively, private clients.
Thanks to the recent recapitalization, Banca Progetto has a CET1 above 75%, as evidenced by the extreme solidity of the recovery project. The soundness of the Institute is also sharpened by additional steps (already approved by the Board of Directors for 2017), planned to strengthen the capital and to lay the foundations of the powerful transformation plan and revitalization to which the management - completely renovated - is already working.