Supriya Ghosh (Editor)

BPER Banca

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Type
  
Società per Azioni

ISIN
  
IT0000066123

Headquarters
  
Italy

Founded
  
1867, Modena, Italy

Total equity
  
5.025 billion EUR (2015)

Traded as
  
BIT: BPE

Industry
  
Financial services

Total assets
  
61.26 billion EUR (2015)

Net income
  
220.7 million EUR (2015)

BPER Banca sbankiamoitwpcontentuploads201311bancaemil

Formerly called
  
Banca Popolare dell'Emilia Banca Popolare dell'Emilia Romagna

Predecessor
  
Banca Popolare di Modena Banca Cooperativa di Bologna Banca Popolare di Cesena

Stock price
  
BPE (BIT) € 4.51 +0.20 (+4.55%)1 Mar, 4:53 PM GMT+1 - Disclaimer

CEO
  
Alessandro Vandelli (16 Apr 2014–)

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BPER Banca S.p.A. formerly known as Banca Popolare dell'Emilia Romagna S.C. is an Italian banking group offering traditional banking services to individuals, corporate and public entities. The company is based in Modena and is a constituent of the FTSE MIB index.

Contents

The bank had branches in most of Italy, except in Aosta Valley and Friuli – Venezia Giulia. The bank is a majority shareholder of Piedmontese bank Cassa di Risparmio di Bra and Saluzzo, as well as minority shareholders of Fossano and Savigliano.

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History

Banca Popolare dell'Emilia was formed by the merger of Banca Popolare di Modena (found 1867) with Banca Cooperativa di Bologna on 29 December 1983. The bank merged with Banca Popolare di Cesena to form Banca Popolare dell'Emilia Romagna on 1 May 1992. The bank acquired and absorbed many provincial and regional level People's Bank (Italian: Banca Popolare) and Saving Bank (Italian: Cassa di Risparmio) in 1990s to 2010s.

2000s

  • 2005 Cassa di Risparmio di Vignola was privatized for about €33 million. remain 23.913% shares was sold by the banking foundation.
  • 2006 The minority interests in Cassa di Risparmio di Bra, Fossano, Saluzzo and Savigliano were acquired from UniCredit for about €149 million.

    • 2010s

    In February 2013, BPER acquired an additional 35.98% stake of CR Bra S.p.A. from the banking foundation of CR Bra for around €23.9 million. After the deal BPER owned 67% stake.

    The bank was affected by Decree-Law N°3 of 2015, which required banks with assets more than €8 billion to transform from Cooperative society (S.C.) to Società per Azioni. (from one person one vote to one share one vote)

    In 2016 the controlling stake in Cassa di Risparmio di Saluzzo was acquired from the banking foundation of CR Saluzzo. On 14 July 2016 a gross value of €450 million bad loans (the most doubtful non-performing loan) were sold to Algebris NPL Fund and Cerberus European Investments without recourse. Italian banks had the highest gross NPLs to total loan ratio in European Union (18% at 31 December 2015); BPER Group's gross NPLs to total loan ratio was 23.28% at 31 December 2015, or €11.395 billion in size in gross; Banco di Sardegna along had €2 billion as well as highest ratio among the group.

    In late 2016 the bank was re-incorporated as BPER Banca S.p.A., as part of the mandatory process, the bank offered to buy back the shares for €3.8070, based on historical price of the bank. However, no share was repurchased, as well as the market value of the bank in the Borsa was bumped back to above that price.

    Former subsidiaries

    storia

  • ABF Factoring (2004–2010)
  • Banca della Campania (2003–2014)
  • Banca del Monte di Foggia (1998–2006)
  • Banca Popolare di Aprilia (1998–?)
  • Banca Popolare di Castrovillari e Corigliano Calabro (1999–?)
  • Banca Popolare di Crotone (?–2008)
  • Banca Popolare dell'Irpinia (2000–2013)
  • Banca Popolare di Lanciano e Sulmona (?–2003)
  • Banca Popolare del Materano (?–2008)
  • Banca Popolare del Mezzogiorno (2008–2014)
  • Banca Popolare di Salerno (?–2003)
  • Banca Popolare di Sinni (1998–?)
  • Banca Popolare di Ravenna (?–2014)
  • Meliorbanca (?–2012)
  • Cassa di Risparmio della Provincia dell'Aquila (1999–2013)
  • Cassa di Risparmio di Vignola (?–2010)
  • Credito Commerciale Tirreno (1997–2003)
  • Eurobanca del Trentino (2004–2010)

    • Equity interests

  • ARCA SGR
  • Cassa di Risparmio di Fossano
  • Banca Cassa di Risparmio di Savigliano

    • Shareholders

    Due to issuing new shares in the acquisitions of some banks, some banking foundations were the shareholders of the bank, namely Fondazione Banco di Sardegna (2.076%), Fondazione Carispaq (0.58%), Fondazione Monte Foggia (0.06%), Fondazione di Vignola (0.00%).

    References

    BPER Banca Wikipedia
    (Text) CC BY-SA