UBI Banca

Unione di Banche Italiane S.p.A., commonly known for its trading name UBI Banca,[2] is an Italian banking Group, the fifth largest in Italy by number of branches, It was formed on 1 April 2007 from the merger of the Banche Popolari Unite (trading as BPU Banca) and Banca Lombarda e Piemontese banking groups.

UBI Banca shares are listed on the Borsa Italiana and are included in the FTSE MIB index (the blue chip index).

Unione di Banche Italiane S.p.A.
UBI Banca
Public
Traded as
ISINIT0003487029
IndustryFinancial services
PredecessorBanche Popolari Unite
Founded2007
Headquarters
  • Bergamo, Italy (registered office)
  • Brescia, Italy (second office)
Number of locations
Decrease 1,812 branches in Italy (June 2018)
Key people
Services
  • Retail banking
  • Corporate banking
  • Asset management
  • Leasing and factoring
Decrease 691 million (2017)
Total assetsIncrease €127.37 billion (2017)
Total equityIncrease €9.23 billion (2017)
Number of employees
Decrease 21,414 (2017)
Capital ratioIncrease 11.56% (CET1)
RatingMoody's
Websiteubibanca.it
Footnotes / references
UBI Banca's 2017 consolidated financial statement[1]

History

Banche Popolari Unite

Banche Popolari Unite, trading as BPU Banca, was formed by the merger of Banca Popolare di Bergamo – Credito Varesino Group with Banca Popolare Commercio e Industria Group, both Popular Bank (Italian: Banca Popolare), a kind of urban co-operative bank in Italy, in 2003.[3] Their subsidiaries at that time were Banca Popolare di Ancona, Cassa di Risparmio di Fano (Carifano), Banca Popolare di Luino e di Varese and Banca Carime. Although the two groups merged, Banca Popolare di Bergamo and Banca Popolare Commercio e Industria were re-incorporated as a subsidiary in the form of società per azioni.

Carifano was sold back to the minority shareholders of Banca Popolare di Ancona in 2005.[4]

In 2006 the board of directors of Banche Popolari Unite agreed another merger with another Italian banking group Banca Lombarda.[5]

Unione di Banche Italiane

The UBI Banca Group was formed on 1 April 2007 from the merger of the BPU Banca Group and the Banca Lombarda Group.[6] The Group operates mainly on the retail market and is present in most regions of Italy, although its focus is primarily on northern Italy. The parent company has its headquarters in Bergamo.

On 20 January 2015 the Council of Ministers issued a decree-law which requires Popular Banks (Italian: Banca Popolari) with assets of greater than €8 billion to demutualize into a società per azioni.[7] In the same year UBI Banca was demutualized.[8][9]

On 27 June 2016, the business plan for 2019–20 was announced. The subsidiaries Banca Popolare di Bergamo, Banco di Brescia, Banca Popolare Commercio e Industria, Banca Regionale Europea, Banca Popolare di Ancona, Banca Carime and Banca di Valle Camonica would be absorbed by parent company UBI Banca in 2016–17.[10]

On 12 January 2017 UBI Banca submitted a binding bid of €1 to buy Nuova Banca delle Marche, Nuova Banca dell'Etruria e del Lazio and Nuova Cassa di Risparmio di Chieti (the three banks that were rescued on 22 November 2015 by Italian National Resolution Fund, a fund that was mandatory contributed by the banking sector, and was managed by the Bank of Italy), with conditions that the three banks would be recapitalized for an estimated €450 million by the fund, as well as selling some of the target banks' non-performing loans (NPLs) in order to lower the size of their risk-weighted assets to below €10.6 billion, increase coverage ratio for the NPLs (i.e. more write down and provision), and a minimum of CET1 ratio of 9.1%. UBI Banca would also recapitalized for a maximum of €400 million in order to counter-weight the effect of bad will (negative goodwill).[2][11] On 18 January the bid was accepted and signing the contract.[12] On 10 May, the transaction was completed.[13] On the same day, a plan to merge the 3 banks into UBI Banca was also announced.[13] In June 2017, about 167 million number of new shares were offered to the existing shareholders for €2.395 each (a discount compared to market value), in order to raise aforementioned €400 million for the completion of the acquisition of the 3 banks.

Group structure

The group is composed of the following companies: :

  • an internet bank that specialises in the management of individual and family investments, IWBank Private Investments
  • companies which operate in the following:
    • salary-backed personal loans: Prestitalia
    • asset management: UBI Pramerica
    • factoring: UBI Factor
    • leasing: UBI Leasing
  • one service company: UBI Sistemi e Servizi (UBISS)
  • minority interests/joint venture
    • Lombarda Vita, an insurance company
    • Aviva Vita, an insurance company

Geographic distribution

Despite one of the 5 largest banks of Italy by total assets, As of 2015, the banking network of UBI Banca was only concentrated in the regions which member banks were came from. For example, a market share of over 15% in Calabria (Banca Carime), between 5 and 15% in Apulia, Basilicata, Campania (Banca Carime and Banca Popolare di Ancona), Marche (Banca Popolare di Ancona), Lombardy (ranked second: Banco di Brescia, Banca Popolare di Bergamo, Banca Popolare Commercio e Industria and Banca di Valle Camonica), Piedmont and Liguria (Banca Regionale Europea). Market share in other regions were below 5% or even below 2%.[14]

Governance

UBI Banca has adopted a two tier governance system with two boards, a supervisory board and a management board. (pursuant to articles 2409g and following of the Italian Civil Code)

Shareholders

Article 120 of the consolidated finance law states that persons holding more than 3% of the share capital in a share issuer which has Italy as its member state of origin must notify this to the company and to the Consob (Italian securities market authority).

On the basis of Consob (Italian securities market authority)[15] communications, on 7 February 2017 the following investors possessed shareholdings of greater than 2%:

The two banking foundations gained part of their shares due to 2017 absorption of Banca Popolare Commercio e Industria and Banca Regionale Europea into UBI Banca.

Shareholders' agreement

Some of the shareholders also signed shareholders' agreements, represented 17.04% voting rights in 2016.[16]

As at 14 March 2017, "Patto dei Mille" represented 3.001% shares,[17] while rival syndicate "Sindacato Azionisti UBI Banca SpA" represented 13.64% shares;[18] Fondazione Banca del Monte di Lombardia, Fondazione Cassa di Risparmio di Trento e Rovereto and Cattolica Assicurazioni belongs to "Sindacato Azionisti UBI Banca SpA".[18]

The shareholders' agreement made the syndicate was the largest shareholder, followed by Fondazione Cassa di Risparmio di Cuneo and Silchester International Investors.

Sponsorship

UBI Banca, via Banco di Brescia, was the main sponsor of football club Brescia Calcio.[19] After all banking subsidiaries/brands became defunct, UBI Banca was the main sponsor of the reserve team of Bergamo-based Atalanta B.C., as well as the "official bank" of the whole club.[20] The contract with Brescia was also extended, which UBI Banca itself became the main sponsor.[21]

References

  1. ^ "2017 Consolidated Financial Report" (PDF). UBI Banca. 2018. Retrieved 4 September 2018.
  2. ^ a b Sanderson, Rachel (13 January 2017). "UBI Banca offers just €1 to buy 3 rescued Italian banks". Financial Times. Retrieved 19 February 2018.
  3. ^ "Banche Popolari Unite" (in Italian). Borsa Italiana. 23 March 2007. Retrieved 20 February 2018.
  4. ^ "A Intesa il controllo di CariFano". La Repubblica (in Italian). Rome: Gruppo Editoriale L'Espresso. 25 March 2005. ISSN 2499-0817. Retrieved 19 February 2018.
  5. ^ FT Alphaville (14 November 2006). "BPU, Banca Lombarda boards approve merger". Financial Times. Retrieved 19 February 2018.
  6. ^ "UBI Banca". Argomenti section. Il Sole 24 Ore (in Italian). Retrieved 19 February 2018.
  7. ^ Fonte, Giuseppe (21 January 2015). "Italy's Renzi presents landmark banking reform". Reuters. Retrieved 19 February 2018.
  8. ^ http://www.ubibanca.it/contenuti/file/comunicato%2010_10_20151.pdf
  9. ^ http://www.ubibanca.it/contenuti/file/Press%20Release%2012102015.pdf
  10. ^ "UBI Banca: 2019/2020 Business Plan" (PDF). UBI Banca. 27 June 2016. Retrieved 27 September 2016.
  11. ^ "UBI Banca: binding offer for the purchase of the 3 Target Bridge Institutions" (PDF). UBI Banca. 12 January 2017. Retrieved 19 January 2017.
  12. ^ "Sale of good banks to UBI" (PDF). Bank of Italy. 18 January 2017. Retrieved 19 January 2017.
  13. ^ a b "Closing of the deal to purchase the three Bridge Banks, new names and Senior Management appointments" (PDF). UBI Banca. 10 May 2017. Retrieved 14 May 2017.
  14. ^ "Fact Sheet" (PDF). UBI Banca. 30 September 2015. Retrieved 20 April 2016.
  15. ^ "Listed companies - Ownership UNIONE DI BANCHE ITALIANE SPA". CONSOB. 7 February 2017. Retrieved 13 February 2017.
  16. ^ "ABSTRACT OF AN AGREEMENT CONCERNING THE EXERCISE OF VOTING RIGHTS IN THE SHAREHOLDERS' MEETING CONVENED FOR 2ND APRIL 2016 OF UBI BANCA S.P.A., IN ACCORDANCE WITH ART. 122, PARAGRAPH 1 OF LEGISLATIVE DECREE NO. 58/1998" (PDF). UBI Banca. 4 March 2016. Retrieved 13 February 2017.
  17. ^ "Patto dei Mille: Update list of Participants" (PDF). UBI Banca. 14 March 2017. Retrieved 17 March 2017.
  18. ^ a b "Sindacato Azionisti UBI Banca SpA: Update list of Participants" (PDF). UBI Banca. 13 March 2017. Retrieved 17 March 2017.
  19. ^ "RINNOVATA LA PARTNERSHIP TRA UBI E BRESCIA CALCIO" (in Italian). Brescia Calcio. 21 August 2013. Retrieved 5 June 2017.
  20. ^ "UBI Banca è "Official Bank" Atalanta B.C." (Press release) (in Italian). Atalanta B.C. 1 July 2017. Retrieved 3 July 2017.
  21. ^ "Brescia Calcio e UBI Banca insieme nel progetto dedicato alle scuole" (Press release) (in Italian). Brescia Calcio. 27 June 2017. Retrieved 3 July 2017.

External links

Banca Carime

Banca Carime S.p.A. was an Italian bank based in Cosenza, Calabria. The bank was a subsidiary of UBI Banca. As of 31 December 2015, the bank had 216 branches (all located in Southern Italy), serving Calabria (84 branches), Apulia (93 branches), Campania (where Salerno located; 20 branches) and Basilicata (19 branches).

In 1999 the bank had 341 branches: 146 in Calabria, 45 in Basilicata, 122 in Apulia, 27 in Campania and 1 in Molise.

Banca Lombarda e Piemontese

Banca Lombarda e Piemontese was an Italian banking group. It was formed as Banca Lombarda in 1998 by the merger of Banca San Paolo di Brescia (with subsidiary Banca di Valle Camonica) and Credito Agrario Bresciano (with subsidiary Banco di San Giorgio). The group merged with Banca Regionale Europea in 2000, which changed their name to reflect the extension to Piedmont region. In 2007 the group merged with Banche Popolari Unite to form UBI Banca.

The group was a minority shareholders of Banca Intesa, partly due to the sales of Cariparma's shares to Banca Intesa and partially due to the warrants issued to Banca San Paolo di Brescia.

Banca Popolare Commercio e Industria

Banca Popolare Commercio e Industria S.p.A. (BPCI) was an Italian bank based in Milan, Lombardy. Found in 1888, the bank absorbed other banks in the 20th century, as well as forming bank group with other banks in the first decade of the 21st century. However, in late 2016 the bank was absorbed by parent company UBI Banca, becoming a defunct brand.

As of 31 December 2014 BPCI had 196 branches, 148 of them in Lombardy, followed by 27 in Emilia-Romagna, 20 in Lazio and 1 in Tuscany.

Banca Popolare di Ancona

Banca Popolare di Ancona S.p.A. is an Italian bank based in Jesi, in the Province of Ancona, Marche. it is a subsidiary of UBI Banca.

Banca Popolare di Bergamo

Banca Popolare di Bergamo S.p.A. is an Italian bank based in Bergamo, Lombardy. The bank is a wholly owned subsidiary of UBI Banca.

Banca Regionale Europea

Banca Regionale Europea was an Italian bank based in Cuneo, Piedmont. The bank was a merger of Cassa di Risparmio di Cuneo and Banca del Monte di Lombardia in 1995.

Banca Teatina

Banca Teatina S.p.A. formerly known as Nuova Cassa di Risparmio di Chieti S.p.A. was an Italian savings bank headquartered in Chieti Scalo, Chieti, Abruzzo region. The bank was formed on 22 November 2015 to replace the old Cassa di Risparmio della Provincia di Chieti S.p.A. which was under special administration from 2014 to 2015. The bank was bought by UBI Banca on 18 January 2017 for a nominal fee. Cassa di Risparmio della Provincia di Chieti S.p.A. was the successor of the bank that known as "Cassa di Risparmio della Provincia di Chieti", which was under legal reconstruction in 1990s. The former legal entity of "Cassa di Risparmio della Provincia di Chieti" became Fondazione Cassa di Risparmio della Provincia di Chieti, which was the majority shareholder of the S.p.A. before its failure in 2015.

Banca Tirrenica

Banca Tirrenica S.p.A. formerly known as Nuova Banca dell'Etruria e del Lazio S.p.A. was an Italian bank based in Arezzo, Tuscany. The bank was re-established on 22 November 2015 as a good bank of the original Banca Popolare dell'Etruria e del Lazio (BPEL). The bank was bought by UBI Banca on 18 January 2017 for a nominal fee.

Both Tyrrhenian and Etruria were alternative name to the area that located in Central Western Italy.

Banca del Monte di Lombardia

Banca del Monte di Lombardia was an Italian regional bank and a charity organization. Due to 1990s banking reform, a S.p.A. and Fondazione Banca del Monte di Lombardia were formed, which the former was merged with other bank in 1995.

Banca delle Marche

Banca Adriatica S.p.A. trading as UBI Banca Adriatica and formerly known as Nuova Banca delle Marche S.p.A. was an Italian bank based in Jesi, Marche region. It has operations in several regions in central Italy, but concentrated in Marche region, which 73% of the branches were located in that region as of 2016. The bank was formed on 22 November 2015 by the spin off of the good assets of the original Banca delle Marche S.p.A..

Banca delle Marche was formed in 1994 by the merger of the savings banks of Marche region. The bank faced capital shortfall and was nationalized by Italian National Resolution Fund in 2015 as Nuova Banca delle Marche, with toxic assets of the bank was spin off from the new legal person. The bank was bought by UBI Banca on 18 January 2017 for a nominal fee, renaming to Banca Adriatica. In the same year it was merged into UBI Banca.

Banca di Valle Camonica

Banca di Valle Camonica S.p.A. was an Italian bank based in Breno, in the Province of Brescia, Lombardy. The bank is named after Val Camonica.

Banco di Brescia

Banco di Brescia San Paolo CAB S.p.A., known as Banco di Brescia, was an Italian bank based in Brescia, Lombardy. On 20 February 2017 it was absorbed into the parent company UBI Banca.

The bank had 288 branches (as of June 2016): 205 in Lombardy, 45 in Lazio, 27 in Veneto, 9 in Friuli – Venezia Giulia and 1 in Trentino – South Tyrol. In the last three regions, Banco di Brescia is the only brand of UBI Banca in that area.

Banco di San Giorgio (1987–2012)

Banco di San Giorgio S.p.A. was an Italian bank that existed from 1987 to 2012. It was named for the historical Bank of Saint George, which has been defunct since 1805. In 1992, it entered the group Credito Agrario Bresciano, initially merged in 1999 with the Banca Lombarda and in 2007 with the UBI Banca Group. On October 22, 2012, it merged with the Banca Regionale Europea (a subsidiary of UBI Banca) that has thus acquired all its branches.The last Chairman of the Board of Directors was Riccardo Garrone.

Brescia Calcio

Brescia Calcio, commonly referred to as Brescia (Italian pronunciation: [ˈbreʃʃa ˈkaltʃo]), is an Italian football club based in Brescia, Lombardy, that currently plays in Serie A.

The club holds the record for total number of seasons (61) and consecutive seasons (18, from 1947–48 to 1964–65) in Serie B, which they have won four times. Their best finish in Serie A came in the 2000–01 season when they placed eighth. At the beginning of the third millennium, led by the 1993 Ballon d'Or winner Roberto Baggio, the club also qualified for the Intertoto Cup twice, reaching the final in 2001 but being defeated on the away goals rule by Paris Saint-Germain.

The team's colours are blue and white. Its stadium is the 16,743 seater Stadio Mario Rigamonti.

Cassa di Risparmio di Cuneo

Cassa di Risparmio di Cuneo S.p.A. was an Italian savings bank based in Cuneo, Piedmont. The organization ceased to operate as a bank but as a non-profit organization as Fondazione Cassa di Risparmio di Cuneo.

Cassa di Risparmio di Loreto

Cassa di Risparmio di Loreto S.p.A. also known as Carilo was an Italian savings bank based in Loreto, in the Province of Ancona. It was one of the 7 saving banks in Marche region in 1990s. 3 out of 7 saving banks were predecessors of Banca delle Marche banking group, which acquired Carilo in 1997; In January 2017 [New] Banca delle Marche banking group was acquired by UBI Banca, after [old] Banca Marche was nationalized in November 2015.

Cassa di Risparmio di Tortona

Cassa di Risparmio di Tortona was an Italian savings bank based in Tortona, Piedmont. The bank was merged into Banca Lombarda in 1999 (the predecessor of UBI Banca), while the former owner of the bank, Fondazione Cassa di Risparmio di Tortona, still operates as a charity organization.

IWBank

IWBank S.p.A. is an Italian online bank owned by UBI Banca. The bank characterises its offer for economic convenience and high technological content.

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).

Central bank
Public banks
Global banks
(Supervised by ECB)
Nationwide and multi-regional banks
(Supervised by ECB)
Multi-regional
(total assets €30b to €8b)
Multi-regional and
regional cooperative bank
(Popolari banks)
Co-operative banks (BCC)
and central banks
Regional retail bank
others
Foreign banks
Ancient banks
Related topics
Banking in Europe
Sovereign states
States with limited
recognition
Dependencies and
other entities
Europe Selected members of the Euro Banking Association
Austria
Belgium
Cyprus
Denmark
Finland
France
Germany
Greece
Hungary
Ireland
Italy
Luxembourg
Netherlands
Poland
Portugal
Slovenia
Spain
Sweden
United
Kingdom
Non-EU
FTSE MIB companies of Italy

Languages

This page is based on a Wikipedia article written by authors (here).
Text is available under the CC BY-SA 3.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.