Industry Financial services Area served Sardinia Island Founded 1953 Number of employees 1,022 (2013) Total assets 4.801 billion EUR (2013) | Defunct 2014 Number of locations 90 Ceased operations 2014 Total equity 443.1 million EUR (2013) | |
Formerly called Credito Industriale SardoBanca CIS Former type Subsidiary of a listed company Services Retail and corporate Banking | ||
The Banca di Credito Sardo S.p.A. was an Italian bank headquartered in Cagliari, Sardinia. In 2014 it was absorbed by the parent company Intesa Sanpaolo.
The head office building, located in Cagliari, was designed by the Italian architect Renzo Piano.
History
Credito Industriale Sardo, ente di diritto pubblico con personalità giuridica propria, was established in 1953 as one of the 19 Mediocredito of Italy, as well as one of the three Istituti per il Finanziamento a Medio Terminealle Medie e Piccole Industrie nell'Italia Meridionale e Insulare (Istituti Meridionale), which were funded by Cassa per il Mezzogiorno. The bank provided medium term loan to small and medium industries from the island.
Due to Legge Amato, the bank became a limited company (Italian: Società per Azioni) in 1992. The bank renamed into Banca CIS in 1990s. In 2000 Mediocredito Lombardo, a subsidiary of Banca Intesa, acquired an additional 53.23% stake of Banca CIS from the Ministry of the Treasury, making Mediocredito Lombardo owned 55.37% stake.
In February 2009 the 93 branches of Intesa Sanpaolo and Banca CIS were merged to form Banca di Credito Sardo. At the same time the core business (medium term lending to enterprises) was transferred to Mediocredito Italiano (ex-Mediocredito Lombardo). However, Banca di Credito Sardo was absorbed into Intesa Sanpaolo in 2014.