Industry Financial services Profit €28.5 million (2013) Founded 1911 Number of employees 1,672 (2013) | Products Retail banking Headquarters Pordenone Revenue 308 million EUR (2013) Net income 28.5 million EUR (2013) Parent organization Crédit Agricole Italia | |
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Type Subsidiary of listed company Area served Friuli Venezia Giulia
Veneto Key people Antonio Scardaccio (chairperson) | ||
Banca Popolare FriulAdria S.p.A. or FriulAdria in short (abb. of Friuli and Adriatic Sea), is an Italian regional bank, which is part of Crédit Agricole Italia, the Italian arm of French banking group Crédit Agricole.
Contents
Since circa 2016 one website was used for the whole Italian banking group.
History
FriulAdria was found as Banca Cooperativa Popolare di Pordenone in 1911. In the 1990s, the bank merged with Banca Popolare di Tarcento and Banca Popolare di Latisana.
Banca Intesa era
The bank was part of Banca Intesa Group, which held 100% shares in 1998. Banca Intesa issued new shares of Banca Intesa to the owners of FriulAdria, and purchased the shares of FriulAdria from them. In 1999, the former shareholder fully subscribed the warrants of FriulAdria's shares, made Banca Intesa's ownership ratio reduced to 66.47%. In the next year Banca Intesa increased the ownership ratio to 76.05%, by transferring 60 branches of Banco Ambrosiano Veneto located in Friuli-Venezia Giulia, to FriulAdria, thus the bank became one of the most important bank in Friuli-Venezia Giulia.
Crédit Agricole era
However, after the merger of Intesa with Sanpaolo IMI, one the major shareholder of the new entity, Crédit Agricole, parted away from Intesa Sanpaolo by decreased its holding, as well as increased the participation in Italy directly by acquiring Cariparma and FriulAdria from Intesa Sanpaolo, as well as an additional 202 former Banca Intesa branches. After a complex transaction, FriulAdria major shareholder was Cariparma of 78.68%, which in turn Crédit Agricole S.A. indirectly controlling 59.01% interests on FriulAdria. FriulAdria received 29 branches out of aforementioned 202.
In 2011 Crédit Agricole further withdrew from Intesa Sanpaolo Group, as well as acquired 96 branches from it. FriulAdria received 15.
As of 2013 FriulAdria had 199 branches.