Banca Intesa

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Banca Intesa S.p.A.
Public
Industry Bank
Predecessor
Founded 2 January 1998 (1998-01-02)
Headquarters Milan, Italy
Key people
Giovanni Bazoli, Chairman
Corrado Passera, CEO
Products Commercial banking, Investment banking, Private banking, Asset management
Revenue 9.726 bn (2004)
Number of employees
56,958 (2004)
Website Banca Intesa

Banca Intesa S.p.A. was an Italian bank formed in 1998 from the merger of Cassa di Risparmio delle Provincie Lombarde (a.k.a. Cariplo) and Banco Ambrosiano Veneto (former Banco Ambrosiano).

History[edit]

In 1999 Banca Commerciale Italiana entered the group, which pursuant to the merger in 2001 changed its name in IntesaBCi; on 1 January 2003, the group's name changed to Banca Intesa. The group also acquired many regional banks, such as Cariparma and FriulAdria (both sold to Crédit Agricole after 2007 merger), Carisap, Carifol

However, Intesa also sold some of them, for example Carispezia (to Banca CR Firenze in 2004), Cassa di Risparmio di Alessandria, Banca di Legnano (to Banca Popolare di Milano), Cassa di Risparmio di Carrara (to Banca Carige) and Banca Carime (to Banca Popolare Commercio e Industria in 2001). 20 branches was also sold to Banca Nuova,[1][2] with additional 26 branches was sold to Banca Nuova's parent company Banca Popolare di Vicenza on 1 January 2001,[3] for 250 billion lire, as well as 51 branches to Unipol Banca for 400 billion lire, as part of the response to the Italian Competition Authority investigation, on the monopoly of the bank after the merger with Banca Commerciale Italiana.[4]

Crédit Agricole was the major shareholder of the group for 25.51% in circa before the merger of Intesa with BCI.[5]

In 2007, Sanpaolo IMI merged into Banca Intesa and name changed to Intesa Sanpaolo SpA.

Activity[edit]

Banca Intesa S.p.A. focuses in four main business areas.

  • The Retail Division serves individuals, small businesses, small and medium enterprises and non-profit organizations; its main activities include retail banking, wealth management, private banking and industrial credit.
  • The Corporate Division serves mid and large corporates, financial institutions and public administrations; its main activities include mergers and acquisitions and structured finance services, merchant banking, capital market, global custody, and the specialized international network.
  • The Italian Subsidiary Banks Division includes banking subsidiaries rooted in regional markets.
  • The International Subsidiary Banks Division involves subsidiaries abroad, providing retail and commercial banking services mainly in Central-Eastern Europe. Banca Intesa has branches and representative offices in Europe, Asia, Latin and North America, and Africa.

Banca Intesa and Sanpaolo IMI announced, in August 2006, that they will merge to found Italy's biggest and Europe's third largest banking group in terms of total assets. The effective merger date is 1 January 2007 and adopts the name of "Intesa Sanpaolo S.p.A.". The registered office of the new bank is in Turin and Milan shall remain as the secondary registered office.

Ownership[edit]

Prior the merger effective on 1 January 2007, the ownership ratio was as follow:

References[edit]

  1. ^ "Da Bankitalia via libera a Banca Nuova Acquistati trenta sportelli da Antonveneta". La Repubblica (in Italian). Rome: Gruppo Editoriale L'Espresso. 5 January 2005. ISSN 2499-0817. Retrieved 28 October 2017. 
  2. ^ Tonato, Franco (11 January 2001). Written at Palermo. "Banca Nuova S.p.A". Gazzetta Ufficiale (in Italian). Rome. Retrieved 28 October 2017. 
  3. ^ "Provvedimento N°131/A: Banca Popolare di Vicenza / Gruppo Intesa" (PDF) (Press release) (in Italian). Rome: Bank of Italy. 4 January 2001. Retrieved 28 October 2017. 
  4. ^ "Gruppo Intesa Report on Operations and Consolidated Financial Statements" (PDF). 2000 Annual Report. Milan: Banca Intesa. 2001. p. 32. Retrieved 29 October 2017. 
  5. ^ http://www.group.intesasanpaolo.com/portalIsir0/isInvestor/storico_BI_opcs/DocInformativoC1.pdf
  6. ^ http://www.group.intesasanpaolo.com/scriptIsir0/si09/contentData/view/content-ref?id=CNT-04-000000003F547

External links[edit]