Former type Società per Azioni Headquarters Padua, Italy | Industry Financial services Ceased operations 2013 | |
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Native name Banca Antonveneta S.p.A. Formerly called Banca Antoniana Popolare Veneta S.c. a r.l. Fate absorbed by the parent company Predecessor Banca Antoniana
Banca Popolare Veneta Founded 24 June 1996, Padua, Italy Parent organization Banca Monte dei Paschi di Siena | ||
Banca Antonveneta S.p.A. was an Italian bank based in Padua, Italy. The bank was absorbed into Banca Monte dei Paschi di Siena in 2013.
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In 2008, it was the 9th largest banking group in Italy in terms of customer loans and the 8th largest in terms of total assets, with 1,000 branches, 10,800 employees and €50bn in assets.
The bank only operates in the fragmented Italian market, where it has a market share of roughly 3%, as the 6th largest bank at that time. More precisely, the bank had 8% market share in Veneto, 7% in Friuli, 6% in Sicily and 3% in both Lazio and Emilia Romagna. It has a focus on the wealthy Northeast of the country with 6% market share and 600 branches.
Eighty-six percent of its clients are retail clients, accounting for 58% of assets, most of which are owned by affluent and private clients, 12% corporate, accounting for 42% of assets, and 2% institutional.
History
Banca Antoniana Popolare Veneta was created by the merger in 1996 of two banks, Banca Antoniana and Banca Popolare Veneta, a cooperative bank.
Banca Antoniana traced its origins back to its founding in Padua in 1893 under the name, Banca Cattolica Padovana. Banca Popolare Veneta was also founded in Padua, in this case in 1866 under the name Banca Mutua di Credito Popolare; in 1883 it transformed itself into Banca Cooperativa Popolare. After World War II, it acquired several other cooperative bank (Italian: Popolare): Treviso in 1950, Polesine in 1980, Cavarzere in 1982, and Valdagno in 1987 In that same year the bank took the name, Banca Popolare Veneta.
In 1997, i.e., one year after the merger, the bank acquired a majority interest in Interbanca, which gave Banca Antonveneta the capability to function as a universal bank, not just a retail bank. Then in 1999 it acquired Banca Nazionale dell'Agricoltura, which gave it a presence throughout Italy, especially in the south. In 2001 the bank absorbed Banca Cattolica di Molfetta. In 2002 the bank absorbed Banca di Credito Popolare di Siracusa.
Since then it has focused more on internally financed growth and in 2002 it switched from being a cooperative society with limited liabilities (S.c. a r.l.) to a publicly traded joint stock company (S.p.A.), in the Borsa Italiana (Italian stock exchange) as Banca Antonveneta S.p.A..
As a subsidiary of ABN AMRO
In 2005, Dutch financial powerhouse ABN AMRO successfully overcame a scandal-ridden campaign by Italian banking regulators to become the first foreign bank to own an Italian bank. This move has been said to clear the way for other European banks to enter the lucrative Italian market. In early 2006, Antonveneta's shares were delisted from the Italian stock exchange as ABN AMRO acquired more than an 80% controlling stake in the banking group by acquiring the shares from owners such as Banca Popolare di Lodi.
In October 2007, a consortium comprising Royal Bank of Scotland, Banco Santander and Fortis acquired ABN AMRO in order to divide its assets between them. in the division of the spoils, Santander received Banca Antonveneta.
As a subsidiary of MPS
Then on 8 November 2007 Santander announced that it had received an accepted an offer of €9 billion for Antonveneta from Banca Monte dei Paschi di Siena. However, Interbanca was excluded from the sale, which was sold to GE Financial instead in March 2008. The sale of Antonveneta was completed on 30 May 2008.
As at 31 December 2007 Antonveneta Group (including Interbanca) had a shareholders' equity of €3.37 billion. After Antonveneta was acquired, an internal reconstruction within MPS Group was made, which New Antonveneta (Italian: Nuova Antonveneta), a new company incorporated in April 2008, would receive the assets and liabilities of old Antonveneta on 1 January 2009. The shareholders' equity of Antonveneta had changed from €3,307,961,482 in 2009 to €3,579,211,518 in 2010 and then fell to €2,134,123,079 in 2011. As of 31 December 2012 the shareholders' equity was €2,000,963,174.
In April 2013 Monte dei Paschi finally absorbed Antonventa. It became Area Territoriale Antonveneta of the bank.
Sponsorship
Banca Antonveneta was the sponsor of Pallavolo Padova.