TIMELINE
1986: Istituto Bancario San Paolo (IBSP) representative office opened in Stockholm.

The decision of Istituto Bancario San Paolo (IBSP) to enter the Stockholm banking market was based on its need to conduct business throughout Scandinavia. Its representative office, created in 1986, did not carry out banking activities; instead it handled the bank's relations with Northern Europe and the nearby city of Rotterdam, a key market for raw materials and energy products, lending its support to the bank's operational office in Amsterdam.
The office also assisted Italian companies engaged in trade with Scandinavia, which at the time was increasingly engaged with the member-states of the European Economic Community (EEC) and with Russia, where IBSP kept a representative office in Moscow.
The office was later transferred to Intesa Sanpaolo.