Published by Global Banking & Finance Review®
Posted on March 22, 2025
1 min readLast updated: January 24, 2026
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Banca Progetto, owned by Oaktree, is under special administration by Bank of Italy to ensure sound management after previous legal issues.
MILAN (Reuters) - Bank of Italy has placed Banca Progetto, a small privately-held lender owned by investment firm Oaktree Capital Management, under special administration and appointed independent administrators to run it.
Bank of Italy's "early" intervention, which dissolved the board, was aimed at "ensuring adequate supervision of the bank's operations and restoring sound and prudent management conditions", Banca Progetto said in statement late on Friday.
In October, the lender was placed under court administration and its headquarters raided by tax police for allegedly lending money to a person arrested on mafia charges.
Last year Oaktree struck a deal to sell Banca Progetto, which is focused on lending to small- and mid-sized Italian businesses, to funds managed by private equity firm Centerbridge Partners, but the transaction was never finalised.
(Reporting by Giulio Piovaccari; editing by Mark Heinrich)
The main topic is the special administration of Banca Progetto by the Bank of Italy due to management concerns.
It was placed under administration to ensure adequate supervision and restore prudent management conditions.
Banca Progetto is owned by Oaktree Capital Management.
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