Formerly called Anonima della Seta Defunct 2016 Headquarters Milan Net income 35.84 million EUR (2014) Total equity 1.205 billion EUR (2014) | Industry Financial services Founded 1888 Ceased operations 2016 Total assets 9.314 billion EUR (2014) Parent organization UBI Banca | |
Former type subsidiary of a listed company Fate absorbed by the parent company Area served Lombardy, Emilia-Romagna, Lazio and Tuscany | ||
Banca Popolare Commercio e Industria S.p.A. (BPCI) was an Italian bank based in Milan, Lombardy. Found in 1888, the bank absorbed other banks in the 20th century, as well as forming bank group with other banks in the first decade of the 21st century. However, in late 2016 the bank was absorbed by parent company UBI Banca, becoming a defunct brand.
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As of 31 December 2014 BPCI had 196 branches, 148 of them in Lombardy, followed by 27 in Emilia-Romagna, 20 in Lazio and 1 in Tuscany.
History
In 2010 Banca Popolare Commercio e Industria sold 87 branches to sister companies, as well as acquired 134 branches. Moreover, Banca Regionale Europea (BRE), formed by a merger of Lombard and Piedmontese bank (Banca del Monte di Lombardia and Cassa di Risparmio di Cuneo), retained only one branch in Lombardy. One of the minority owner of BRE, the banking foundation of Banca del Monte di Lombardia, acquired the shares of BPCI from UBI Banca, at the same time sold all the shares of BRE to UBI Banca. As of 31 December 2010 UBI Banca owned 75.077% shares of BPCI, followed by the banking foundation (16.237%) and Aviva S.p.A. (8.686%). Before the transaction, Aviva held 16.64% and the rest by UBI Banca.