Native name doBank S.p.A. Headquarters Verona Total assets 418.2 million EUR (2015) | Industry Financial services Founded 1949 Total equity 159.2 million EUR (2015) | |
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Formerly called Istituto di Credito Fondiario delle Venezie
Mediovenezie Banca
UniCredito Gestione Crediti
UniCredit Credit Management Bank Type private Società per Azioni Key people Giovanni Castellaneta (chairman) Profit (€167.112 million) (2015) Subsidiaries Italfondiario S.p.A, Trivimm S.r.l., Pasc In Fallimento | ||
doBank S.p.A. is an Italian bank based in Verona, Veneto region. The bank was known as UniCredit Credit Management Bank until 2015. In 2015 the company was acquired by private equity funds of Fortress Investment Group.
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Mediovenezie Banca
Istituto di Credito Fondiario delle Venezie was found in 1949 as a bank that specializing in financing public works and public utility. In 1992 the bank was transformed from a statutory corporation to limited company (Italian: Società per Azioni) as Credito Fondiario delle Venezie S.p.A.. In 1995 the bank merged with Mediocredito delle Venezie (a bank specializing in medium term lending to industries) and Federalcasse Banca (a inter-bank lending institute for Veneto saving banks) to form Mediovenezie Banca. The bank was part of Cariverona Banca Group. In 1995 it became part of Unicredito Group, which in 1998 became part of UniCredito Italiano Group.
UniCredit Credit Management Bank
In 2000 the lending business of Mediovenezie was transferred to sister company, while the bank itself had transformed into UniCredito Gestione Crediti, a bank specializing in credit management (Italian: gestione crediti).
In 2008 the bank was renamed into UniCredit Credit Management Bank which also managed the non-performing loans (NPLs) of former Capitalia Group. In 2011 UniCredit Credit Management absorbed Aspra Finance S.p.A..
At 31 December 2012 the book value of the company was valued as €3.3 billion. In 2013 UniCredit write-down €620 million for the value of UniCredit Credit Management, to €2.7 billion. In 2014 a further write-down of €1.5 million was made.
doBank
In 2015 UniCredit Credit Management, along with a portfolio of €2.4 billion gross book value of NPLs was sold to private equity funds (Eurocastle Investment Limited for 50% stake in doBank and Fortress Italian NPL Opportunities Fund) of Fortress Investment Group and Prelios for an undisclosed amount.
In 2016 Italfondiario was acquired from Fortress.