Banca Popolare di Vicenza

Banca Popolare di Vicenza

Native name	Banca Popolare di Vicenza S.p.A.
Type	Società per Azioni
Industry	Financial services
Founded	1866
Headquarters	18 via Btg. Framarin, Vicenza, Italy
Number of locations	627 locations (2015)
Area served	16 regions of Italy; Republic of Ireland, New York, São Paulo, Moscow, New Delhi, Hong Kong and Shanghai
Key people	Stefano Dolcetta Capuzzo (chairman) Francesco Iorio (managing director)
Services	Retail and corporate banking
Profit	(€1.407 billion) (2015)
Total assets	€39.783 billion (2015)
Total equity	€2.534 billion (2015)
Owner	Atlante (99.33%)
Number of employees	5,273 (2015 average)
Parent	Atlante
Subsidiaries	Banca Nuova FarBanca ABC Assicura Berica Vita Cattolica Life
Capital ratio	10.75% (CET1, June 2016 data)
Website	popolarevicenza.it
Footnotes / references in consolidated basis[1]

Banca Popolare di Vicenza (BPVi) is an Italian bank. According to one research, the bank was the 12th largest bank of Italy.^[2]

BPVi is a multi-regional bank which had branches in most of the Italy regions, except Aosta Valley in the north, Molise and Basilicata in the south, as well as Sardinia Island. Moreover, only one branch in Campania, Abruzzo, Marche and only two branches in Apulia, Trentino – South Tyrol and Umbria.^[1] The bank had 221 branches in Veneto, 75 in Lombardy, 75 in Tuscany and 57 in Friuli – Venezia Giulia.

The bank, according to 2015 annual report, was owned by the public of more than 100,000 natural person (88.5%).^[1] Only 11.5% were owned by companies, administrative body and institution, such as Cattolica Assicurazioni (0.89%)^[3] and Fondazione Cariprato (0.35%).^[4]

The bank had two major subsidiaries, Banca Nuova, operated mainly in Sicily and Calabria, as well as FarBanca, a bank for pharmacist. The bank expanded in 1990s by merged with other co-operative people's bank (Italian: Banca Popolare) of the whole Italy.

History

Banca Popolare di Vicenza was the first cooperative bank in Veneto region. The bank was also known as Banca Popolare Vicentina.

Acquisitions

In 1985 the bank acquired Banca Popolare Agricola di Lonigo, in 1988, Banca Popolare di Thiene, in 1991, Banca Popolare dei Sette Comuni-Asiago, in 1994, Banca Popolare di Venezia, in 1996, Banca Popolare di Castelfranco Veneto (became BP Treiviso in 1999)^[5][6] and Banca Popolare di Trieste, in 1997 Banca Popolare della Provincia di Belluno, in 1998 Banca Popolare "C. Piva" di Valdobbiadene and Banca Popolare Udinese.^[7] In 2000 the group acquired Banca Nuova di Palermo and Banca del Popolo di Trapani, which became Banca Nuova in 2002.^[7] In 2002 the group acquired Cassa di Risparmio di Prato (Cariprato) from Banca Monte dei Paschi di Siena, which had 60 branches mainly in Tuscany region.^[7] In 2010 Cariprato was absorbed into the bank.

BPVi was the 9th largest shareholder of Banca Nazionale del Lavoro (BNL) for 3.63682% ordinary shares. (at the end of year 2004).^[8] BNL was privatized by BNP Paribas after Bancopoli.

In 2007 61 branches were acquired from UBI Banca, mainly based in the Provinces of Brescia and Bergamo, Lombardy.^[7] In 2014, 16 branches were acquired from Cassa di Risparmio di Ferrara^[9] as well as one branch in Turin was acquired from Banca Popolare di Spoleto.^[9]

Alliances

The bank was a member of an alliance "North East Group" in the 1980s, which consist of Banca Agricola Mantovana (BAM), Banca Popolare di Bergamo, Banca Popolare dell'Emilia, Banca Popolare di Sondrio (BPSO), Banca Popolare di Verona and Banca Popolare Vicentina. The group joined with ARCA, which consist of 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.^[10][11] As at 31 December 2015 BPVi still owned 19.99% stake in ARCA SGR.

The banks of the alliance merged within and outside the alliance to form Banca Antonveneta (1996, acquired by ABN AMRO in 2005), BPU Banca (2003, merged with Banca Lombarda in 2007), Banca Popolare Italiana (BPI), Banco Popolare di Verona e Novara (2002; merged with BPI in 2007), Banca Popolare dell'Emilia Romagna (BPER; 1992), or acquired by other banking group (BAM). After many years of merger and acquisitions, BPVi, BPER, UBI Banca, Banco Popolare and BPSO were the 5 surviving banking group, plus Banca Monte dei Paschi di Siena which acquired and absorbed BAM and Antonveneta.

BPVi also signed an agreement with Banca Popolare Veneta (from Padua), Banca Popolare di Asolo e Montebelluna (from the Province of Treviso) and Banca Popolare di Castelfranco Veneto (from the Province of Treviso) on dividing the market of the Province of Padua, Treviso and Vicenza in 1992. However, Banca d'Italia ruled that the agreement was anti-competitive in 1996.^[12] After the ruling BPVi acquired Treviso based Banca Popolare di Castelfranco Veneto in 1996 and Banca Popolare "C. Piva" di Valdobbiadene in 1998. The competitors of BPVi in Veneto also became UniCredit (ex-Cariverona Banca), Intesa Sanpaolo (ex-Ambroveneto), Banca Monte dei Paschi di Siena (ex-Antonveneta), Banco Popolare (ex-BP Verona), Veneto Banca (ex-BP Asolo e Montebelluna) and Volksbank – Banca Popolare (ex-Banca Popolare di Marostica) after many merger and acquisitions.

The bank also partnered with Banca di Roma in 2000,^[13] however, BPVi breakup with Banca di Roma and did not involved in the birth of Capitalia, which was absorbed by UniCredit in 2007.

BPVi was alliances with insurer Cattolica Assicurazioni until 2016, which the bank still owned 15.07% stake as of 31 December 2015.^[1][7]

Recent history

The bank was one of the 14 banks that were supervised by European Central Bank directly since 2014 due to their size.^[14] The bank was among the four Italian banks (Banca Popolare di Milano, Banca Carige and Banca Monte dei Paschi di Siena) that failed the stress tests in 2014.^[15] BPVi and BPM passed the tests after recapitalization.^[16]

Due to Decree-Law N°3/2015, in 2016 the bank became a limited company with demutualization. The bank also planned another capital increase of €1.5 billion (the CET1 capital ratio was just 6%, below ECB requirements of over 10%), as well as floats the shares in Borsa Italiana.^[1] The bank wrote down €1.333 billion worth of customer loans in the 2015 financial year.^[17] As part of the demutualization, the bank bought back 271,339 shares for €6.3, a fraction of net equity per shares and the offer price of the new shares in 2014 and 2015.^[18] However, on the same day, the bank also announced that due to low demand, the new shares would be sold at €3 to €0.1 per share, in order to raise a minimum of €1.510 billion to a maximum of €1.800 billion.^[19] The prospects of the initial public offering also exposed that the bank lent money to customers in order to buy the bank own shares back to 2014 and 2015. With the collapse of the price of the shares, the loan would become non-preforming.

Due to low demand on IPO, entire capital increase of €1.5 billion was subscribed by Atlante, it also due to some subscription were automatically canceled due to the bank fail to float in the borsa.^[20][21]

On 4 August 2016 Cattolica terminated the partnership with BPVi and excised the put option to sell the three joint ventures to the bank.^[22]

Equity interests

• ARCA SGR
• Cattolica Assicurazioni

Sponsorship

The bank was the main sponsor of Vicenza Calcio (since 2001, shirt sponsor circa 2010)^[1][23] as well as city rival Real Vicenza.^[24] The bank also sponsored Udinese Calcio^[25] and U.S. Città di Palermo (through Banca Nuova).^[26]

See also

• Palazzo Thiene, historic headquarter of BPVi
• Palazzo degli Alberti, historic headquarter of Cariprato

References

External links

• Official website

Banking in Italy
Central bank	Banca d'Italia European Central Bank
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Global banks (Supervised by ECB)	UniCredit FinecoBank Intesa Sanpaolo Banca IMI Mediocredito Italiano Banca CR Firenze Banco di Napoli CariFVG Carisbo Caript Cariromagna CR Veneto
Nationwide and multi-regional banks (Supervised by ECB)	Banco BPM Banco Popolare Banca Aletti Banca Popolare di Milano Banca Popolare di Mantova Banca Monte dei Paschi di Siena MPS Capital Services UBI Banca IWBank Mediobanca Compass Banca Esperia Banca Popolare dell'Emilia Romagna Banco di Sardegna Banca di Sassari Cassa di Risparmio di Bra Cassa di Risparmio di Saluzzo Atlante Banca Popolare di Vicenza Banca Nuova FarBanca Veneto Banca Banca Apulia Banca Intermobiliare Banca Carige Banca del Monte di Lucca Credito Emiliano Banca Popolare di Sondrio
Multi-regional (total assets €30b to €8b)	Credito Valtellinese Credito Siciliano Banca Mediolanum Banca Popolare di Bari Cassa di Risparmio di Orvieto Banca Sella Holding Banca Sella Banca Patrimoni Sella Banco di Desio e della Brianza Banca Popolare di Spoleto Unipol Banca Banca di Asti Biverbanca Südtiroler Volksbank – Banca Popolare dell'Alto Adige Südtiroler Sparkasse – Cassa di Risparmio di Bolzano
Multi-regional and regional cooperative bank (Popolari banks)	Banca Agricola Popolare di Ragusa Banca Valsabbina Banca Popolare di Puglia e Basilicata Banca Popolare di Cividale Cassa di Sovvenzioni e Risparmio fra il Personale della Banca d'Italia Banca Popolare Pugliese Banca di Piacenza Banca di Credito Popolare Banca Popolare del Lazio Banca Popolare del Cassinate Banca Popolare Valconca Banca Popolare Etica Banca Popolare Sant'Angelo Sanfelice 1893 Banca Popolare Banca Popolare di Lajatico Banca Popolare di Fondi Banca Popolare del Frusinate
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Regional retail bank	Cassa di Risparmio di Ravenna Banco di Lucca e del Tirreno Banca di Imola Cassa di Risparmio di Cesena Banca Carim Cassa di Risparmio di San Miniato Banca di Cambiano Cassa di Risparmio di Cento ChiantiBanca Cassa Padana Cassa di Risparmio di Volterra Hypo Alpe-Adria-Bank Cassa di Risparmio di Fossano Banca del Fucino Cassa di Risparmio di Fermo Banca del Piemonte Banca CR Savigliano Banco Azzoaglio
others	Banca Generali Banca IFIS Interbanca Banca Finnat Banca Ubae Banca Leonardo Banca Farmafactoring Unione Fiduciaria Credito Fondiario Banca Passadore Banca Sistema Banca Profilo
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Ancient banks	Bank of Saint George Banco di Santo Spirito Istituto Bancario San Paolo di Torino Medici Bank Mount of piety Faenza Foggia Parma Reggio Emilia
Related topics	List of banks in Italy Associazione Bancaria Italiana Associazione di Fondazioni e di Casse di Risparmio S.p.A. Associazione Nazionale fra le Banche Popolari Fondo Interbancario di Tutela dei Depositi

Members of Euro Banking Association
Austria	Allgemeine Sparkasse Oberosterreich Bank für Tirol und Vorarlberg AG BKS Bank AG Erste Group Bank AG Oberbank AG Oesterreichische Nationalbank Raiffeisen Zentralbank Österreich AG Raiffeisenlandesbank Oberösterreich AG Raiffeisen-Landesbank Tirol AG Steiermärkische Bank und Sparkassen AG
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Ireland	Allied Irish Banks Bank of Ireland
Italy	Banca Agricola Popolare di Ragusa Banca del Fucino Banca del Piemonte Banca delle Marche Banca di Imola Banca Monte dei Paschi di Siena Banca Nazionale del Lavoro Banca Popolare del Lazio Banca Popolare dell'Emilia Romagna Banca Popolare di Milano Banca Popolare di Sondrio Banca Popolare di Vicenza Banca Sella Banca Tercas Banco Popolare Cassa di Risparmio della Provincia di Chieti Cassa di Risparmio di Cesena Cassa di Risparmio di Fermo Nuova Cassa di Risparmio di Ferrara Cassa di Risparmio di Loreto Cassa di Risparmio di Ravenna Credito Emiliano Credito Valtellinese ICCREA Banca Intesa Sanpaolo Istituto Centrale delle Banche Popolari Italiane Raiffeisen Landesbank Südtirol – Cassa Centrale Raiffeisen dell'Alto Adige Südtiroler Volksbank – Banca Popolare dell'Alto Adige UBI Banca UniCredit Veneto Banca
Luxembourg	Banque et Caisse d'Épargne de l'État Banque Raiffeisen Banque Internationale à Luxembourg SA KBL European Private Bankers Société Générale Bank & Trust
Netherlands	ABN Amro Bank NV De Nederlandsche Bank ING Bank NV Rabobank Nederland
Poland	Bank BPH SA Narodowy Bank Polski
Portugal	Banco BPI SA Banco Comercial Português Crédito Agrícola Caixa Geral de Depósitos Novo Banco
Slovenia	Banka Slovenije
Spain	Banco Bilbao Vizcaya Argentaria, S.A. Banco Popular Español, S.A. Banco Sabadell, S.A. Bankinter, S.A. Banco Santander, S.A. CaixaBank, S.A. (La Caixa) Catalunya Banc, S.A. (CatalunyaCaixa) Kutxabank, S.A. ABANCA Corporación Bancaria, S.A. (Abanca) Caja Laboral Popular, Cooperativa de Crédito (Caja Laboral) Banco Cooperativo Español, S.A. (Caja Rural) CECABANK, S.A.
Sweden	Skandinaviska Enskilda Banken Svenska Handelsbanken Swedbank AB Nordea Bank AB
United Kingdom	Bank of Tokyo-Mitsubishi UFJ Ltd. Barclays Bank PLC Citibank NA DNB Bank (NOR) HSBC Bank PLC JPMorgan Chase Bank, N.A., London Branch Kookmin Bank International Ltd. Lloyds Bank PLC MashreqBank psc (UAE) Royal Bank of Scotland PLC UBS AG Wells Fargo Bank NA
Non-EU	Bank of China (CHN)