BPER Banca

BPER Banca S.p.A. formerly known as Banca Popolare dell'Emilia Romagna S.C. is an Italian banking group offering traditional banking services to individuals, corporate and public entities.[2] The company is based in Modena and is a constituent of the FTSE MIB index.

The bank had branches in most of Italy, except in Aosta Valley and Friuli – Venezia Giulia.[3] The bank is a majority shareholder of Piedmontese bank Cassa di Risparmio di Bra and Saluzzo, as well as minority shareholders of Fossano and Savigliano.

BPER Banca
Formerly
  • Banca Popolare dell'Emilia
  • Banca Popolare dell'Emilia Romagna
Società per Azioni
Traded asBITBPE
FTSE MIB Component
ISINIT0000066123
IndustryFinancial services
Predecessor
  • Banca Popolare di Modena
  • Banca Cooperativa di Bologna
  • Banca Popolare di Cesena
Founded
  • 1867 (BP Modena)
  • 29 December 1983 (BP Emilia)
  • 1 May 1992 (BPER)
Headquarters,
Italy
Number of locations
1273
Area served
18 out of 20 regions of Italy
Key people
  • Ettore Caselli (chairman)
  • Alessandro Vandelli (CEO)
ServicesRetail and corporate banking, insurance
Increase €357.414 million (2017)
Total assetsIncrease €70.297 billion (2017)
Total equityIncrease €5.056 billion (2016)
Subsidiaries
Capital ratio11.24% (CET1)
Websitebper.it
Footnotes / references
in consolidated financial statement[1]

History

Banca Popolare dell'Emilia was formed by the merger of Banca Popolare di Modena (found 1867) with Banca Cooperativa di Bologna on 29 December 1983. The bank merged with Banca Popolare di Cesena to form Banca Popolare dell'Emilia Romagna on 1 May 1992.[4] The bank acquired and absorbed many provincial and regional level Popular Bank (Italian: Banca Popolare) and Saving Bank (Italian: Cassa di Risparmio) in 1990s to 2010s.

2000s

2010s

In February 2013, BPER acquired an additional 35.98% stake of CR Bra S.p.A. from the banking foundation of CR Bra for around €23.9 million. After the deal BPER owned 67% stake.[8]

The bank was affected by Decree-Law N°3 of 2015, which required banks with assets more than €8 billion to transform from Cooperative society (S.C.) to Società per Azioni. (from one person one vote to one share one vote)

In 2016 the controlling stake in Cassa di Risparmio di Saluzzo was acquired from the banking foundation of CR Saluzzo. On 14 July 2016 a gross value of €450 million bad loans (the most doubtful non-performing loan) were sold to Algebris NPL Fund and Cerberus European Investments without recourse.[9] Italian banks had the highest gross NPLs to total loan ratio in European Union (18% at 31 December 2015);[10] BPER Group's gross NPLs to total loan ratio was 23.28% at 31 December 2015, or €11.395 billion in size in gross; Banco di Sardegna along had €2 billion as well as highest ratio among the group.

In late 2016 the bank was re-incorporated as BPER Banca S.p.A., as part of the mandatory process, the bank offered to buy back the shares for €3.8070, based on historical price of the bank.[11] However, no share was repurchased,[12] as well as the market value of the bank in the Borsa was bumped back to above that price.

On 2 March 2017 BPER Banca signed a contract to acquire Nuova Cassa di Risparmio di Ferrara for a nominal fee of €1. On 30 June the deal was completed.[13]

Former subsidiaries

source[14]

Equity interests

Shareholders

Due to issuing new shares in the acquisitions of some banks, some banking foundations were the shareholders of the bank, namely Fondazione Banco di Sardegna (3.021%), Fondazione Carispaq (0.58%),[15] Fondazione Monte Foggia (0.06%),[16] Fondazione di Vignola (0.00%).[17]

Norges Bank also owned about 2.062% shares. UnipolSai owned 9,869% shares

See also

References

  1. ^ "2016 Bilancio consolidato" (PDF) (in Italian). Banca Popolare dell'Emilia Romagna. Retrieved 2 January 2018.
  2. ^ "Banca Popolare - Business Profile". Financial Times. Retrieved 24 November 2013.
  3. ^ http://www.gruppobper.it/wps/gruppo/banca/bper_istzgruppo_content/sitoit/homepage/ilgruppo/presenzasulterritorio/
  4. ^ "STATUTO SOCIALE (2015)" [Articles of association (2015)] (PDF) (in Italian). Banca Popolare dell'Emilia Romagna. 18 April 2015. Retrieved 10 April 2016.
  5. ^ "2005 Bilancio Consuntivo" (PDF). Fondazione di Vignola (in Italian). Associazione di Fondazioni e di Casse di Risparmio S.p.A. (ACRI) archive. 16 November 2006. Retrieved 16 February 2016.
  6. ^ "2005 Bilancio Individuale" (PDF). BPER (in Italian). Borsa Italiana archive. 18 May 2006.
  7. ^ "2006 Bilancio Individuale" (PDF) (in Italian). BPER. 10 November 2007. Archived from the original (PDF) on 12 October 2016. Retrieved 16 February 2016.
  8. ^ "BPER acquista controllo di Cassa di Risparmio di Bra" (in Italian). BPER. 7 February 2013. Retrieved 16 February 2016.
  9. ^ "BPER Group: sale without recourse of a bad loan portfolio for a gross of € 450 million". BPER. 14 July 2016. Retrieved 21 July 2016.
  10. ^ "Rapporto sulla stabilità finanziaria N°1 - 2016" [Financial Stability Report N°1 - 2016] (PDF) (in Italian). Banca d'Italia. 29 April 2016. Retrieved 1 May 2016.
  11. ^ "Amount paid for BPER shares subject to withdrawal". BPER Banca. 19 October 2016. Retrieved 19 January 2017.
  12. ^ "No request of withdrawal in relation to the transformation into a joint-stock company". BPER Banca. 3 January 2017. Retrieved 19 January 2017.
  13. ^ "BPER Banca completes the acquisition of Nuova Carife" (Press release). BPER Banca. 30 June 2017. Retrieved 7 July 2017.
  14. ^ "I nostri valori - BPER Banca". www.bper.it. Retrieved 13 April 2018.
  15. ^ "2014 Bilancio Consuntivo" (in Italian). Fondazione Cassa di Risparmio della Provincia dell'Aquila (Fondazione Carispaq). 23 April 2015. Retrieved 9 March 2016.
  16. ^ "2014 Bilancio d'esercizio" (in Italian). Fondazione Banca del Monte di Foggia. 13 May 2015. Retrieved 4 February 2016.
  17. ^ "2014 Bilancio Consuntivo" (PDF) (in Italian). Fondazione di Vignola. 11 March 2016. Retrieved 14 April 2016.

External links

ARCA Fondi SGR

ARCA Fondi S.p.A. SGR is an Italian asset management company (Italian: Società di Gestione del Risparmio) based in Milan, Lombardy region. The company was founded in 1983 by ARCA, an alliance of 8 People's Banks, namely Banca Antoniana, Banca Popolare Commercio e Industria, Banca Popolare di Crema, Banca Popolare di Cremona, Banca Popolare di Lodi and Banca Popolare Veneta. In 1989 ARCA joined with North East Group to form ARCA – Nort Est, adding Banca Agricola Mantovana, Banca Popolare di Bergamo, Banca Popolare dell'Emilia, Banca Popolare di Sondrio (BPSO), Banca Popolare di Verona and Banca Popolare di Vicenza (BPVi) to the alliance. ARCA Vita was a sister company of ARCA SGR.

Art collection of BPER Banca

The Collezione di dipinti antichi della Banca Popolare dell’Emilia Romagna is a collection of classic Italian artworks from the last seven centuries in Emilia-Romagna, that has been purchased by Banca Popolare dell'Emilia Romagna.

Modern viccisitudes have concentrated the collection of Italian art to a few entities, most prominently banks. Those artworks in private hands in Italy cannot win export licences, hence find local homes with such patrons. The collection of the Banca Popolare dell’Emilia Romagna is not unique in its scope, like most banks it focus on local talent; in fact this formidable collection includes artists from the last seven centuries from the region or whose paintings could be found locally. It is housed in Modena.

Associazione di Fondazioni e di Casse di Risparmio S.p.A.

Associazione di Fondazioni e di Casse di Risparmio S.p.A. is an Italian banking association. The members were the savings banks (Italian: casse di risparmio or singular cassa di risparmio) of Italy, or the foundation that originate from the reform trigger by Legge Amato. Banks originated from mounts of piety also joined.

Banca Popolare di Lanciano e Sulmona

Banca Popolare di Lanciano e Sulmona S.p.A. known as BLS was an Italian cooperative bank based in Lanciano, in Province of Chieti, in Abruzzo region. It was absorbed into Banca Popolare dell'Emilia Romagna in 2013.

Banca del Monte di Foggia

Banca del Monte di Foggia S.p.A. also known as Banca del Monte "Domenico Siniscalco-Ceci" di Foggia in honor a sponsor , was an Italian regional bank based in Foggia, Apulia region.

Due to Legge Amato, the statutory corporation was split into a Società per Azioni and a banking foundation on 6 December 1994. The bank sector was sold in 1998 and absorbed into Banca della Campania on 28 December 2006, both as a subsidiary of Banca Popolare dell'Emilia Romagna. Fondazione Banca del Monte di Foggia, still acts as a charity organization.

Banca di Sassari

The Banca of Sassari (English:Bank of Sassari) is an Italian bank with its headquarters in Sassari, Sardinia.

It was founded as Banca Cooperativa fra Commercianti Società Anonima in 1888, later it was renamed as Banca Popolare Cooperativa Anonima di Sassari, and since 1948 called Banca Popolare di Sassari. In 1993 was founded a Joint-stock company called Banca di Sassari S.p.A., controlled by the Banco di Sardegna. It is member of BPER group since 2001.

The bank has got 575 employees, and 56 bank offices located in Sardinia, and one in Rome.

Banco di Sardegna

The Banco di Sardegna S.p.A. (English: Bank of Sardinia) is a bank headquartered in Sassari, Italy and operating primarily on the island of Sardinia, with offices also in Lombardy, Tuscany, Emilia-Romagna, Liguria and Lazio. The bank is a subsidiary of Banca Popolare dell'Emilia Romagna and previously Fondazione Banco di Sardegna.

The general manager and the presidency is located in Sassari, while the registered office is settled in Cagliari.

The bank has got a Social capital of 155,247,762.00 Euros and a Balance Sheet Total of 12.480 Billion Euros (December 30, 2007). It is quoted to Milan Stock Exchange.

Cassa di Risparmio della Provincia dell'Aquila

Cassa di Risparmio della Provincia dell'Aquila (Carispaq) was an Italian savings bank, based in L'Aquila, Abruzzo region. The bank was absorbed into parent company Banca Popolare dell'Emilia Romagna in 2013.

Fondazione Cassa di Risparmio della Provincia dell'Aquila, the parent organization that the bank was spin off from in 1992, still operates as a charity organization.

Cassa di Risparmio di Bra

Cassa di Risparmio di Bra is an Italian regional bank. The bank was based in Bra, in the Province of Cuneo, Piedmont.

Due to Legge Amato, the bank was split into a società per azioni and a non-profit banking foundation on 20 December 1991 (gazetted on 18 January 1992). Cassa di Risparmio di Torino (Banca CRT) once became a minority shareholders of the bank. However its successor, UniCredit sold their possession on Bra (31.021%), Fossano (23.077%), Saluzzo (31.019%) and Savigliano (31.006%) to Banca Popolare dell'Emilia Romagna for about €149 million in 2006. (which BPER paid €32.827 million for CR Bra's shares) In February 2013, BPER acquired an additional 35.98% shares from the foundation for around €23.9 million. After the deal BPER owned 67% shares.

Cassa di Risparmio di Cento

Cassa di Risparmio di Cento S.p.A. (known as CR Cento or Caricento in short) is an Italian savings bank based in Cento, Emilia-Romagna, which serve the Province of Ferrara, Bologna and Modena.

Cassa di Risparmio di Ferrara

Nuova Cassa di Risparmio di Ferrara S.p.A. known as Nuova Carife [New Carife] in short, was an Italian bank, based in Ferrara, Emilia-Romagna. Nuova Carife was founded on 22 November 2015 as a good bank that spin off from the original Cassa di Risparmio di Ferrara S.p.A. (Carife). The old Carife was under administration from 2013 and 2015, and now being liquidated as a bad bank. Nevertheless, Nuova Carife was a short-lived bank, which was acquired by BPER Banca in 2017 from Italian Resolution Fund, becoming branches of the banking group in the same year. The former majority shareholder and the old legal person of the bank, Fondazione Cassa di Risparmio di Ferrara (Fondazione Carife) survived as a charity organization.

Cassa di Risparmio di Saluzzo

Cassa di Risparmio di Saluzzo is an Italian saving bank. The bank was based in Saluzzo, in the Province of Cuneo, Piedmont.

Since the bank reforms in 1991, the bank was split into a società per azioni and a non-profit banking foundation. Cassa di Risparmio di Torino (Banca CRT) once became a minority shareholders of the bank. However its successor, UniCredit sold their possession on Saluzzo (31.019%), Bra (31.021%), Fossano (23.077%) and Savigliano (31.006%) to Banca Popolare dell'Emilia Romagna for about €149 million in 2006. (which BPER paid €45.384 million for CR Saluzzo's shares)As at 31 December 2014 the foundation owned 66.98%, followed by BPER 31.019% and Argentario 2%.In 2016 a plan to purchase the controlling stake from the foundation was announced. It was part of a reform in banking foundation, forcing them to diversify investments. In December BPER purchased an additional 20% of the bank to completely privatized CR Saluzzo.

Cassa di Risparmio di Vignola

Cassa di Risparmio di Vignola was an Italian saving bank based in Vignola, in the Province of Modena, Emilia–Romagna region. It was absorbed by Banca Popolare dell'Emilia Romagna in 2010.

Crediop

Dexia Crediop S.p.A. is an Italian bank specializing in financing public infrastructure. It was part of Dexia Group, as the owner of 70% shares. Banco Popolare, Banca Popolare di Milano and Banca Popolare dell'Emilia Romagna owned 10% each as minority shareholders.

Fondazione Carispaq

Fondazione Cassa di Risparmio della Provincia dell'Aquila known as Fondazione Carispaq is an Italian charity organization that was the product of 1992 banking reform. The foundation was the owner of Cassa di Risparmio della Provincia dell'Aquila S.p.A.. However the limited company was sold to Banca Popolare dell'Emilia Romagna progressively from 2000 to 2013. Carispaq sold 11.853% shares of Carispaq for 1,915,453 new shares of BPER, which equivalent to 0.58% share capital as at 31 December 2014.As at 31 December 2014, the foundation had a shareholders equity of €142,841,977. The foundation provided scholarship to the students of University of L'Aquila, as well as an archaeology scholarship co-funded with Associazione L'ArQueologia. It was reported that the foundation promoted the construction of a L'Aquila–Rome railway.

List of banks in Italy

Italy had 11 banking group (excluding banking group that owned by foreign banks) that were supervised by the European Central Bank directly. According Mediobanca, there are more than 350 banking groups or independent banks as of 2017. However, ECB considered ICCREA Banca, the clearing house of Italian cooperative banks federation as one banking group, which the publication of Mediobanca considered the cooperative banks are individual entities, such as Banca di Credito Cooperativo di Roma was ranked 22nd in the publication, while ICCREA Banca and Bank of Italy were excluded from the publication.

Nexi

Nexi S.p.A. formerly known as Istituto Centrale delle Banche Popolari Italiane S.p.A. (ICBPI) is an Italian bank that specialise in payment systems such as Nexi Payments (formerly known as CartaSi). The bank was specialised as a central institution of Italian Popular Bank. (Italian: Banca Popolare).

Società per azioni

Società per azioni (S.p.A. or SpA) is a form of corporation in Italy, meaning "company with shares" (although often translated as "joint-stock company", which may or may not be a limited liability entity). It is equivalent to S.A. or public limited company in other countries. However, S.p.A. has some differences from plc or S.A.

The other common form of corporation in Italy was società a responsabilità limitata (s.r.l.) (literally: limited liability company). S.p.A. issued shares (Italian: azioni), while in s.r.l. the unit was quote/stock of share capital. Moreover, the articles of association of s.r.l. allowed different allocation of profit and assets, which was more comparable to a limited partnership.Since 2016, banks are required to run as S.p.A. if their assets are more than a defined threshold. This saw the blue chips of the FTSE MIB Index: Banco BPM, BPER Banca, UBI Banca, demutualized from s.c.p.a., s.c. a.r.l., or s.c. legal forms (respectively, co-operative company by shares, co-operative company with limited liabilities, and co-operative company).

Unione Fiduciaria

Unione Fiduciaria S.p.A. – Società Fiduciaria e di Servizi delle Banche Popolari Italiane (literally Union Fiduciary) is an Italian bank that specialized in fiduciary. The bank was formed by 8 People's Bank (Italian: Banca Popolare) of Italy in 1958.

On 30 April 2015 UBI Banca sold the business in UBI Fiduciaria to Unione Fiduciaria. In 2016 Unione Fiduciaria acquired Istifid, which was owned by Banco di Desio e della Brianza, Credito Valtellinese, Canova Investissements, Allianz Bank Financial Advisors S.p.A., Banco Azzoaglio and others. After the deal Credito Valtellinese and Banco Desio increased their stakes in Unione Fiduciaria. Istifid acquired Aperta Fiduciaria, a wholly owned subsidiary of Credito Valtellinese in 2013.

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