Banca Agricola Commerciale

What Banca Agricola Commerciale does

Banca Agricola Commerciale (BAC San Marino), founded in 1920, is a privately-held, full-service commercial bank organized as an S.p.A. under Sammarinese law and headquartered in San Marino. The bank operates exclusively in the Republic of San Marino through a network of seven retail branches across major localities (Borgo Maggiore, Murata, San Marino Città, Gualdicciolo, Dogana, Tavolucci), supplemented by dedicated Private Banking and Corporate Banking divisions, 24/7 self-service terminals, mobile banking (BAC Mobile iOS/Android), web banking, and the PlainPay token-based authentication and payment-authorization application.

The bank's product portfolio spans retail and corporate services: current accounts, personal loans, home mortgages (including the GreenBac eco-mortgage), investment funds, private banking, business accounts, corporate financing, startup consulting, and real estate ancillary services. The technology stack integrates the BAC Mobile app, PlainPay authentication, the SMaC digital wallet (San Marino Card), Klirway (formerly BKN301) as the wholly-owned card-services and payments subsidiary handling 301-branded cards and Mastercard products, plus PagoPA for cross-jurisdictional Italian public-payments. Subsidiaries BAC Life S.p.A. (insurance, expanded via the 2022 acquisition of a business unit from Compagnia Sammarinese di Assicurazioni S.p.A.) and BAC Investments (asset management) extend the firm into life insurance, unit-linked products, and investment fund distribution.

BAC generates revenue primarily through traditional commercial banking activities: net interest income on deposits and lending, recurring subscription-style fees on private banking and investment services, transaction-based card fees via Klirway, and life-insurance premium flow through BAC Life. Pricing is not publicly disclosed and is set per customer profile. The customer base is segmented into "Privati" (individual retail), "Imprese" (businesses and professionals — the two primary segments), "Private Banking" for high-net-worth clients, and "Startups," served through physical branches, dedicated relationship managers, and self-serve digital channels within a single-country (San Marino) operating geography. The institution is profitable on an annual reporting cycle (2020–2024 statements approved by shareholders).

Name

Banca Agricola Commerciale

Legal name

BAC SpA – Istituto Bancario Sammarinese S.p.A.

Website

https://bac.sm

Company type

Private

Founded year

1920

Operating status

Operating

Headcount range

51–100 employees

Short description

Banca Agricola Commerciale is a privately-held, full-service commercial bank founded in 1920 and headquartered in San Marino, serving individual and business customers exclusively in the Republic of San Marino through a multi-branch network, dedicated private and corporate divisions, mobile and online banking, and subsidiaries in insurance, asset management, and card payments.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022), Commercial Banks, Nec (6029)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Retail Wealth & Bancassurance Distribution (Investment & Insurance via Bank) (FSABAAAJ)

Keywords

• Retail banking services
• Corporate banking
• Private banking
• Wealth management
• Consumer lending

Headquarters

HQ city

San Marino

HQ country

Italy

HQ region

Europe

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Retail Banking Services: Traditional banking services including current accounts, deposits, and lending products
2. Corporate Banking Services: Corporate banking, business lending, and treasury services for enterprises
3. Private Banking Services: Wealth management and investment advisory for high-net-worth individuals
4. Card Services: Credit and debit card issuance and processing through Klirway partnership
5. Insurance Products: Life insurance and protection products through BAC Life subsidiary

Pricing tiers

Distribution channels6 records

Marketing channels5 records

Core offering

Banca Agricola Commerciale is a San Marino-headquartered commercial bank that provides retail, corporate and private banking services including current accounts, personal and business loans, residential mortgages, investment and asset-management products, life and business insurance (via BAC Life), and card services (via Klirway). The bank complements its branch-led offering with proprietary digital channels — the BAC Mobile App, PlainPay authentication, the SMaC digital wallet — and integrations such as PagoPA and Mastercard Move, serving individual customers, businesses and high-net-worth clients across the Republic of San Marino.

Product overview

Banca Agricola Commerciale (BAC San Marino) operates as a traditional commercial bank offering a comprehensive suite of banking products and services for both individual (Privati) and business (Imprese) customers. The bank follows a platform-based architecture with core banking products (accounts, loans, mortgages, investments, insurance) supplemented by digital service modules (BAC Mobile App, PlainPay authentication). The product portfolio includes 301 branded card products through its subsidiary ecosystem (BAC Life, BAC Investments) and integrates with third-party payment services (PagoPA, Klirway, Mastercard Move, San Marino Card).

Differentiator

Problem solved

Functional benefit

Brands

• BAC Mobile: Mobile banking application for iOS and Android platforms
• PlainPay
• BAC Life
• BAC Investments
• SMaC

Products and services

• Conti Correnti (Current Accounts) Basic checking and savings account services for individual customers in San Marino, including account opening and management.
• Richiesta Prestiti (Personal Loans) Personal loan products offered to individual customers to meet various financial needs.
• Mutuo Casa (Home Mortgage) Mortgage financing solutions for purchasing or refinancing residential property, including the GreenBac eco-friendly mortgage option.
• Investimenti Privati (Personal Investments) Investment products and wealth management services for individual customers, including funds and portfolio management.
• Assicurazioni Privati (Private Insurance) Insurance products designed for individual customers to protect family and assets.
• Conto Imprese (Business Accounts) Business checking and account services for corporate and enterprise customers in San Marino.
• Finanziamenti Imprese (Business Financing) Corporate lending and financing solutions for businesses of various sizes operating in San Marino.
• Investimenti Imprese (Business Investments) Investment products and capital management services for business customers.
• Assicurazione Imprese (Business Insurance) Insurance products for businesses and professionals to protect their operations.
• Consulenza StartUp (Startup Consulting) Specialized consulting services for startups and new business ventures, supporting initial financing and business planning.
• Immobili (Real Estate) Real estate property listings and related banking services for property transactions.
• BAC Mobile App Mobile banking application for iOS and Android that allows BAC customers to perform banking operations via smartphone.

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered supporting and core.

• FSALsupportingGTM or Marketing Partner · 15 November 2023Three-year sports sponsorship partnership supporting prestigious sporting achievements. Partnership announced November 2023.
• Klirway S.p.A. (formerly BKN301 S.p.A.)coreTechnology or IntegrationCard services provider for BAC San Marino, managing credit and debit card operations including 301 card products (World Elite, Consumer, Business, and Pay variants). Operates antifraud services and customer support for card holders and merchants.
• BAC InvestmentscoreTechnology or IntegrationSubsidiary company managing retail fund quotations and investment products for BAC clients.
• BAC Life S.p.A.coreTechnology or IntegrationSubsidiary company managing insurance products including unit-linked fund quotations. BAC Life acquired a business unit from Compagnia Sammarinese di Assicurazioni S.p.A.
• San Marino Card (SMaC)coreTechnology or IntegrationLocal card brand operated by San Marino, offering SMaC card products with dematerialized POS operations via SMaC app.
• MastercardcoreTechnology or IntegrationInternational card network partnership providing global payment acceptance and branded card products through Klirway.
• PagoPAsupportingTechnology or IntegrationItalian public payment system integration enabling online tax and government payments for San Marino residents.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Others

• Mastercard: Global card network that enables BAC's card services through Klirway partnership. Not a competitor but a critical infrastructure partner; included to highlight the dependency relationship BAC has with international payment networks for product distribution.

Broad incumbents

• Banca Mediolanum: Italian retail and private bank with strong bancassurance and wealth distribution capabilities. Comparable to BAC's retail wealth and bancassurance distribution lines, though serving a national rather than microstate market.
• Credem (Credito Emiliano): Italian commercial bank with comprehensive retail, private, and corporate banking services. Operates at the same full-service commercial bank model as BAC but at significantly larger scale across Italy.
• Poste Italiane (BancoPosta): Italian state-owned retail banking and deposit institution providing mass-market accounts, lending, and payments. Comparable to BAC's mass-market retail deposit and payment business, though at national scale.
• Banca Sella: Italian regional bank group offering retail and corporate banking, asset management, and insurance. Comparable to BAC in business model and product breadth, though operating at much larger scale across Italy.

Regional players

• LGT Bank (Liechtenstein): Liechtenstein-based private and commercial bank operating in a microstate environment with strong private banking focus. Comparable in microstate banking model and reliance on wealth management revenue.
• Banca di Andorra / Andbank: Andorran commercial and private bank serving a microstate market — similar structural context to BAC operating in San Marino. Comparable in product breadth and reliance on local private banking.

Direct peers

• Credito Industriale Sammarinese: San Marino commercial bank with comparable offerings across retail, corporate, and lending lines. Closest head-to-head domestic competitor to BAC.
• Banca di San Marino: Another San Marino-incorporated commercial bank offering retail and corporate banking, lending, and payment services within the same small domestic market. Directly comparable in product mix and customer segments to BAC.
• Cassa di Risparmio della Repubblica di San Marino (CARISP): San Marino's oldest and largest retail savings institution; offers deposits, lending, and investment products to individuals and businesses. Comparable to BAC across products, customer segments, and geographic scope.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Banca Agricola Commerciale