Banca Popolare di Vicenza
|Banca Popolare di Vicenza S.p.A.|
|Società per Azioni|
|Headquarters||18 via Btg. Framarin, Vicenza, Italy|
Number of locations
|627 locations (2015)|
|16 regions of Italy; Republic of Ireland, New York, São Paulo, Moscow, New Delhi, Hong Kong and Shanghai|
|Services||Retail and corporate banking|
|Profit||(€1.407 billion) (2015)|
|Total assets||€39.783 billion (2015)|
|Total equity||€2.534 billion (2015)|
Number of employees
|5,273 (2015 average)|
|Capital ratio||10.75% (CET1, June 2016 data)|
Footnotes / references|
in consolidated basis
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. 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%). Only 11.5% were owned by companies, administrative body and institution, such as Cattolica Assicurazioni (0.89%) and Fondazione Cariprato (0.35%).
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.
Banca Popolare di Vicenza was the first cooperative bank in Veneto region. The bank was also known as Banca Popolare Vicentina.
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) 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. In 2000 the group acquired Banca Nuova di Palermo and Banca del Popolo di Trapani, which became Banca Nuova in 2002. 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. In 2010 Cariprato was absorbed into the bank.
In 2007 61 branches were acquired from UBI Banca, mainly based in the Provinces of Brescia and Bergamo, Lombardy. In 2014, 16 branches were acquired from Cassa di Risparmio di Ferrara as well as one branch in Turin was acquired from Banca Popolare di Spoleto.
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. 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. 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.
BPVi was alliances with insurer Cattolica Assicurazioni until 2016, which the bank still owned 15.07% stake as of 31 December 2015.
The bank was one of the 14 banks that were supervised by European Central Bank directly since 2014 due to their size. 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. BPVi and BPM passed the tests after recapitalization.
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. The bank wrote down €1.333 billion worth of customer loans in the 2015 financial year. 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. 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. 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.
The bank was the main sponsor of Vicenza Calcio (since 2001, shirt sponsor circa 2010) as well as city rival Real Vicenza. The bank also sponsored Udinese Calcio and U.S. Città di Palermo (through Banca Nuova).
- Palazzo Thiene, historic headquarter of BPVi
- Palazzo degli Alberti, historic headquarter of Cariprato
- "2015 Annual Report" (PDF). Banca Popolare di Vicenza. 25 March 2016. Retrieved 15 April 2016.
- "LE PRINCIPALI BANCHE ITALIANE" (PDF) (in Italian). Ricerche e Studi. 10 November 2015. Retrieved 21 February 2016.
- "2015 Bilancio Consolidato" (PDF) (in Italian). Cattolica Assicurazioni. 6 April 2016. Retrieved 21 April 2016.
- "2015 bilancio" (PDF) (in Italian). Fondazione Cariprato. 2016. Retrieved 1 June 2016.
- Avviso di convocazione di assemblea ordinaria
- OPA Banca Popolare della Provincia di Treviso
- La storia Banca Popolare di Vicenza (in Italian) Archived March 30, 2015, at the Wayback Machine.
- 2004 bilancio Banca Nazionale del Lavoro (Italian)
- "2014 bilancio" (PDF) (in Italian). Banca Popolare di Vicenza. 24 April 2015. Retrieved 20 April 2016.
- "PER LE DODICI POPOLARI DI ARCA-NORDEST NUOVI UFFICI ALL' ESTERO". La Repubblica (in Italian). 16 June 1989. Retrieved 23 April 2016.
- "banche popolari: 12 istituti in gruppo arca nordest" (in Italian). Agenzia Giornalistica Italia. 8 June 1989. Retrieved 23 April 2016.
- "Provvedimento N°17: Banche Popolari Venete" (PDF) (in Italian). Banca d'Italia. 30 January 1996. Retrieved 23 April 2016.
- "Nuova alleanza in vista per Banca di Roma". Corriere della Sera (in Italian). 4 January 2000. Retrieved 26 March 2015.
- "List of supervised entities" (PDF). European Central Bank. 1 January 2016. Retrieved 13 April 2016.
- "AGGREGATE REPORT ON THE COMPREHENSIVE ASSESSMENT" (PDF). European Central Bank. October 2014. Retrieved 26 March 2015.
- "Monte Paschi has 2.1 billion euro shortfall after EU stress test: Bank of Italy". Reuters. 26 October 2014. Retrieved 26 March 2015.
- "BANCA POPOLARE DI VICENZA: SHAREHOLDERS' MEETING" (PDF). Banca Popolare di Vicenza. 26 March 2016. Retrieved 16 April 2016.
- "AVVISO SUI RISULTATI DELL'ESERCIZIO DEL DIRITTO DI RECESSO IN RELAZIONE ALLA TRASFORMAZIONE DI BANCA POPOLARE DI VICENZA" (PDF) (in Italian). Banca Popolare di Vicenza. 19 April 2016. Retrieved 20 April 2016.
- "Offerta delle azioni di Banca Popolare di Vicenza: definita la "forchetta di prezzo" indicativa Minimo 0,10 Euro per azione, massimo 3,00 Euro per azione" (PDF) (in Italian). Banca Popolare di Vicenza. 19 April 2016. Retrieved 20 April 2016.
- "BANCA POPOLARE DI VICENZA: COMPLETED GLOBAL OFFERING. OFFER PRICE SET AT EURO 0.10 PER SHARE" (PDF). Banca Popolare di Vicenza. 30 April 2016. Retrieved 1 May 2016.
- "Press Release" (PDF). Banca Popolare di Vicenza. 2 May 2016. Retrieved 6 September 2016.
- "CATTOLICA ASSICURAZIONI EXERCISES THE RIGHT OF WITHDRAWAL FROM THE PARTNERSHIP WITH BANCA POPOLARE DI VICENZA" (PDF). Cattolica Assicurazioni. 4 August 2016. Retrieved 8 August 2016.
- "Presentazione Ufficiale della Squadra" (in Italian). Vicenza Calcio. 25 August 2011. Retrieved 26 March 2015.
- "PRESENTAZIONE DI MICHELE MARCOLINI" (in Italian). Real Vicenza V.S. 2014. Retrieved 26 March 2015.
- "Banca Popolare di Vicenza è Sponsor Istituzionale Gold di Udinese Calcio" (in Italian). Banca Popolare di Vicenza. 2 September 2011. Retrieved 26 March 2015.
- "Banca Nuova rinnova il contratto con il Palermo Calcio" (in Italian). US Città di Palermo. 8 August 2008. Retrieved 25 March 2015.