UBI Banca

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Unione di Banche Italiane S.c.p.A.
Type Società cooperativa per azioni (cooperative limited by shares)
Public company
Traded as BITUBI
Industry Financial services
Founded 2007
Headquarters Bergamo, Italy
Key people Victor Massiah (CEO), Emilio Zanetti (Chairman of the management board), Corrado Faissola (Chairman of the supervisory board)
Products Retail banking, insurance, asset management
Operating income €3.438 billion (2011)[1]
Total assets €129.80 billion (end 2011)[1]
Total equity €10.78 billion (end 2011)[1]
Employees 19,379 (March 2012)[1]
Subsidiaries 1,800 (March 2012)
Website www.ubibanca.it

Unione di Banche Italiane S.c.p.A., branded as UBI Banca, is an Italian banking Group, ranking fifth nationally by number of branches, established on 1 July 2007 following the merger between two Italian banking Groups, Banche Popolari Italiane (BPU) and Banca Lombarda (BL). The firm is primarily a holding company for a number of Italian cooperative banks, and various product companies, operating in different sectors, such as insurance,investment banking and asset management.

Operations[edit]

UBI Banca is principally involved in retail banking, which makes up almost three-quarters of its total revenues.[2] At the end of March 2012, the group held 1,800 branches in Italy, of which nearly half were located in Lombardy (where the two largest members of its retail network, Banca Popolare di Bergamo and Banco di Brescia, are headquartered) and Piedmont.[3] The group also has a significant presence in the South of Italy though Banca Carime, which has 270 branches across Apulia, Calabria, Campania and Basilicata.[3]

The firm also owns a controlling interest in IWBank, a provider of online banking and trading.[4]

The Group has adopted a dual governance system characterised by the presence of a Management Board and a Supervisory Board. UBI Banca is a cooperative bank with registered offices in Bergamo. As at 31 March 2012, the share capital amounted to 2,254,366,898 euro made up of 901,746,759 ordinary shares of a nominal values of 2.50 euro each.

Under Article 120 of the Consolidated Finance Act (Legislative Decree No. 58/1998), persons holding more than 2% 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 an updating of the shareholders’ register, the registered shareholders of UBI Banca numbered 83,489 as at 31 March 2012. If shareholders who are not listed in the shareholders’ register are also considered, then the total of registered and unregistered shareholders numbered more than 152 thousand.

According to Consob,[5] the shareholders holding more than 2% of Bank's share capital, as at 4 July 2012 are: - Norges Bank 2.18% - Fondazione Cassa di Risparmio di Cuneo 2.278% - Fondazione Banca del Monte di Lombardia 2.254% - BlackRock Inc. 2.854% - Silchester International Investors LLP 5.00%.

Group structure[edit]

The group comprises:

  • eight network banks:
    • Banca Popolare di Bergamo
    • Banco di Brescia
    • Banca Popolare Commercio e Industria
    • Banca Regionale Europea
    • Banca di Valle Camonica
    • Banca Popolare di Ancona
    • Banca Carime
    • UBI Banca Private Investment
  • an on-line bank, IW Bank
  • companies operating in:
    • asset management: UBI Pramerica
    • leasing: UBI Leasing
    • factoring: UBI Factor
    • bancassurance: UBI Assicurazioni, Aviva Assicurazioni Vita, Aviva Vita and Lombarda Vita
  • a services consortile company:
    • UBISS

See also[edit]

References[edit]

  1. ^ a b c d "Annual Report 2011". UBI Banca. Retrieved 30 July 2011. 
  2. ^ "About us". UBI Banca. 
  3. ^ a b "Our Presence in Italy". UBI Banca. 31 March 2012. 
  4. ^ http://www.ubibanca.it/pagine/Structure-of-the-Group-EN-3.aspx.  Missing or empty |title= (help)
  5. ^ http://www.consob.it/main/emittenti/societa_quotate/index.html

External links[edit]