Banca Popolare di Milano
|Società cooperativa a responsabilità limitata|
|Traded as||BIT: PMI|
|Enzo Chiesa (General manager), Andrea C. Bonomi (Chairman of the management board), Filippo Annunziata (Chairman of the supervisory board)|
|Products||Retail, investment and private banking|
|Revenue||€1.431 billion (2010)|
|€321.7 million (2010)|
|Profit||€106.0 million (2010)|
|Total assets||€54.05 billion (end 2010)|
|Total equity||€3.737 billion (end 2010)|
Number of employees
|8,600 (end 2010)|
Banca Popolare di Milano is an Italian cooperative bank based in Milan, Lombardy. About 62% of the branches were from Lombardy (392); the group also had branches in Emilia-Romagna (28), Lazio (64), Apulia (36), Piedmont (87), Liguria (11), Veneto (7), Tuscany (2), Campania (2), Marche (1), Molise (1), Abruzzo (1) and Friuli– Venezia Giulia (1).
The second cooperative bank in Italy (the first one was the Banca Popolare di Lodi), it was founded in 1865 in Milan by Luigi Luzzatti, who later served as the nation's Prime Minister. Luzzatti drew his inspiration from the 'credit associations' developed by Hermann Schulze-Delitzsch in Germany a decade earlier.
BPM has grown considerably since the 1950s by buying interests in other banks such as Banca Popolare di Roma, la Banca Briantea, Banca Agricola Milanese, Banca Popolare Cooperativa Vogherese, Banca Popolare di Bologna e Ferrara, Banca Popolare di Apricena, Ina Banca, Cassa di Risparmio di Alessandria and Banca di Legnano.
BPM now employs about 9,000 people in 792 branches and it has about 1,4 million customers. The bank works basically in the northern and central regions of Italy, with a strong presence in Lombardy and Piedmont, but with branches also in Lazio and Apulia.
- "Annual Report 2010" (PDF). Banca Popolare di Milano. Retrieved 18 November 2011.
- page 449
- Henry W. Wolff. People's Banks. P.S. King & Son, London, 1910, pp. 254-319.
- 8,378 employees, 702 branches and 1,430,100 customers, source: "Bilancio sociale del gruppo Bipiemme" ("Social Balance of Bipiemme Group") 2005
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