“Istituto Nazionale di Credito per la Cooperazione” becomes the “Banca Nazionale del Lavoro per la Cooperazione”

“Istituto Nazionale di Credito per la Cooperazione” was created on 15 August 1913 by decree of the King of Italy, Victor Emmanuel III. His objective was to facilitate the transformation of the primarily rural Italian economy into an industrial economy, by providing specific aids to the cooperative movement. The INCC was the first institution to establish credits dedicated to farming, fishing and the cinema.
On 19 May 1927, INCC changed its name by royal decree of Victor Emmanuel III to become “Banca Nazionale del Lavoro per la Cooperazione”. Then in 1929, the bank became a veritable lending institution under public law, under the name Banca Nazionale del Lavoro (BNL). BNL joined the BNP Paribas Group in 2006.