Cassa Depositi e Prestiti (CDP) Company Profile
Background
Overview
Cassa Depositi e Prestiti S.p.A. (CDP) is Italy's primary public development bank, established in 1850 in Turin. Its mission is to foster Italy's sustainable development by responsibly utilizing national savings to support growth, employment, innovation, business competitiveness, infrastructure, and local development. CDP serves as the government's arm for executing public policy mandates, financing public investments, and promoting economic development at local, regional, and national levels.
Mission and Vision
CDP's mission is to promote sustainable development in Italy by responsibly managing national savings to support growth and employment. This includes fostering innovation, enhancing business competitiveness, developing infrastructure, and supporting local development. The vision is to be a catalyst for Italy's economic growth and resilience, leveraging its unique position to drive positive change across various sectors.
Primary Area of Focus
CDP focuses on financing public investments, supporting infrastructure development, and investing in strategic sectors to bolster Italy's economic growth. It provides loans to state and regional governments, public bodies, local authorities, and public-law entities through postal savings products under state guarantee and the issuance of bonds.
Industry Significance
As Italy's National Promotional Institution, CDP plays a pivotal role in the country's economic development. It is the principal financier for public administrations in Italy, a key sponsor and advisor for infrastructure projects, and supports the implementation of national recovery and resilience plans. CDP also aids in the growth of Italian enterprises, both domestically and internationally, and invests in real estate and infrastructure projects deemed strategic for national development.
Key Strategic Focus
Core Objectives
- Economic Development: Drive sustainable economic growth by investing in infrastructure, innovation, and strategic sectors.
- Public Investment Financing: Provide financial support to public administrations for projects that enhance public services and infrastructure.
- Enterprise Support: Assist Italian businesses in expanding domestically and internationally through various financial instruments.
- Social Housing and Urban Regeneration: Invest in social housing projects and urban regeneration initiatives to improve living conditions and promote social inclusion.
Specific Areas of Specialization
- Infrastructure Development: Financing large-scale infrastructure projects, including transportation, energy, and telecommunications.
- Real Estate and Urban Regeneration: Investing in housing projects and urban renewal to revitalize communities.
- Support for SMEs: Providing financial products tailored to the needs of small and medium-sized enterprises to foster innovation and competitiveness.
Key Technologies Utilized
CDP employs advanced financial modeling, risk assessment tools, and data analytics to evaluate and manage investments. It also utilizes digital platforms for efficient fund management and reporting.
Primary Markets or Conditions Targeted
CDP primarily targets the Italian market, focusing on public administrations, infrastructure projects, and enterprises. It also engages in international cooperation and supports Italian businesses in expanding abroad.
Financials and Funding
Funding History
CDP's funding is primarily sourced from postal savings, which are guaranteed by the state. As of the first half of 2025, postal savings amounted to €291 billion, a 0.4% increase from the end of 2024. Additionally, CDP raises funds through bond issuance in the capital markets, with bond funding increasing by 9% to €22 billion.
Total Funds Raised
In the first half of 2025, CDP facilitated investments of €41.6 billion, marking a 2% increase year-over-year.
Notable Investors
CDP is majority-owned by the Italian Ministry of Economy and Finance, holding an 82.77% stake. The remaining 15.93% is held by various banking foundations, and 1.30% by CDP itself through treasury shares.
Intended Utilization of Capital
The capital raised is utilized to finance public investments, support infrastructure development, invest in strategic sectors, and provide financial products to businesses and public administrations. CDP also allocates funds to social housing projects and urban regeneration initiatives.
Pipeline Development
Key Pipeline Candidates
CDP's pipeline includes investments in infrastructure projects, social housing, urban regeneration, and support for small and medium-sized enterprises.
Stages of Clinical Trials or Product Development
As a financial institution, CDP does not engage in clinical trials or product development.
Target Conditions
CDP targets economic development, infrastructure enhancement, social housing, and support for enterprises, particularly SMEs.
Relevant Timelines for Anticipated Milestones
CDP's strategic plan for 2025-2027 outlines initiatives to support sustainable growth, including investments in infrastructure, innovation, and social housing.
Technological Platform and Innovation
Proprietary Technologies
CDP utilizes proprietary financial modeling and risk assessment tools to evaluate and manage investments.
Significant Scientific Methods
The institution employs advanced data analytics and financial modeling techniques to assess investment opportunities and manage risks effectively.
AI-Driven Capabilities
CDP has announced plans to invest €1 billion over the next five years in artificial intelligence and cybersecurity, aiming to enhance its technological capabilities and support innovation in Italy.
Leadership Team
Giovanni Gorno Tempini – Chairman
Giovanni Gorno Tempini has been serving as the Chairman of CDP since 2019. Under his leadership, CDP has focused on strategic investments and supporting Italy's economic development.
Dario Scannapieco – Chief Executive Officer (CEO)
Dario Scannapieco has been the CEO of CDP since 2019. He has played a pivotal role in implementing CDP's strategic initiatives and fostering sustainable development in Italy.
Competitor Profile
Market Insights and Dynamics
The Italian financial services market is characterized by a mix of public and private institutions. CDP's unique position as a state-backed development bank allows it to play a significant role in financing public investments and supporting economic development.
Competitor Analysis
CDP's primary competitors include other financial institutions that provide similar services, such as commercial banks and private equity firms. However, CDP's state-backed status and focus on public development projects distinguish it from these competitors.
Strategic Collaborations and Partnerships
Significant Collaborations
CDP has engaged in various collaborations to strengthen its market position, including:
- Poste Italiane: CDP holds a 35% stake in Poste Italiane, Italy's largest employer, which operates across mail, financial services, insurance, broadband, and energy sectors.
- Nexi: CDP holds a 19.14% stake in Nexi, Italy's leading payments company. CDP has been involved in strategic discussions regarding Nexi's business operations.
Operational Insights
Strategic Considerations
CDP's strategic considerations include:
- Public Policy Alignment: Ensuring that investments and initiatives align with national economic development plans and public policy objectives.
- Sustainable Development: Focusing on projects that promote environmental sustainability and social inclusion.
- Economic Resilience: Supporting initiatives that enhance Italy's economic resilience and global competitiveness.
Major Competitors
CDP's major competitors include other financial institutions that provide similar services, such as commercial banks and private equity firms. However, CDP's state-backed status and focus on public development projects distinguish it from these competitors.
