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Inside the Secret Banking Heavyweight That Aims to Revive Italy

The transformation of CDP, which has done almost 10 billion euros of deals since the summer, is gaining momentum during the pandemic.

The Cassa Depositi e Prestiti SpA headquarters in Rome.

The Cassa Depositi e Prestiti SpA headquarters in Rome.

Source: Cassa Depositi e Prestiti

Something is changing at Italy’s state bank.

The Treasury offices next door have the same sense of dated grandeur you’ll find at any ministry in Rome. But step into the white, airy lobby of Cassa Depositi e Prestiti SpA and there’s a distinctly corporate vibe in an entity few Italians are aware even exists.