Credito Emiliano

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Credito Emiliano
Native name
Credito Emiliano S.p.A.
Formerly called
Banca Agricola Commerciale di Reggio Emilia
Società per Azioni
Traded as BITCE
ISIN IT0003121677
Founded 1910
Headquarters 4 via Emilia San Pietro, Reggio Emilia, Italy
Services Retail and corporate banking, insurance
Increase €166.166 million (2015)
Total assets Increase €37.455 billion (2015)
Total equity Increase €2.4797 billion (2015)
Owner Credito Emiliano Holding (75.57%%)
Parent Credito Emiliano Holding
Divisions
  • Credem Banca
  • Credem Banca d'Impresa
  • Credem Private Banking
Subsidiaries Banca Euromobiliare
Capital ratio 13.52% (CET1)
Website Official website
Footnotes / references
in consolidated basis[1]

Credito Emiliano S.p.A. (Credem) is an Italian bank based in Reggio Emilia, Emilia-Romagna. The company was a component of FTSE Italia Mid Cap Index.

According to a research by Ricerche e Studi, a subsidiary of Mediobanca, Credito Emiliano was ranked the 18th largest bank in Italy by total assets as at 31 December 2014, despite several group was omitted.[2] If omitting central banks, postal saving and subsidiaries of foreign banking group, the bank was ranked 14th, or 12th among retail and commercial conglomerate if omitting investment banks and insurance-bank conglomerate of Italy. (Banca Mediolanum and Mediobanca). Due to its size, the bank was supervised by European Central Bank directly, as part of the Single Supervisory Mechanism (as 1 of the 14 Italian banking group).[3]

The company also had several internal divisions: Credem Banca (retail banking), Credem Banca d'Impresa (corporate banking) and Credem Private Banking.

History

Founded 1910 as Banca Agricola Commerciale di Reggio Emilia, the bank changed its name to Credito Emiliano in 1983. At that time the bank also acquired Banca Belinzaghi of Milan, starting their expansion.[4] In 1991 Istituto Bancario Siciliano was acquired, followed by Banca di Girgenti and Banca Industriale Agricola di Radicena.

The Group acquired Banca Popolare Vittorio Emanuele di Paternò, Banca Euromobiliare, BCC Corleone, Banca Creditwest e dei Comuni Vesuviani, Banca Tamborino Sangiovanni, Banca Popolare San Marco Argentano, BCC Ciminna, BCC Bonifati, BCC Curinga, Banca dei Comuni Nolani, 3 branches of Deutsche Bank in Catania, BCC San Giovanni Gemini, Banca della Provincia di Napoli from 1994 to 1998. In 1999, the bank was ranked 8th in terms of branches on Sicily island.[5]

From 1999 to 2008 Banca Popolare Dauna, BCC Fortore-Miscano, BCC San Fili, BCC Jonica, BCC Alto Crotonese, Banca Popolare Andriese, Banca dei Laghi, Banca di Latina, Euromobiliare Corporate Finance, Credimmobili and Anteprima were acquired.[6][7]

Shareholders

On 1 January 1993 Credito Emiliano Holding was formed as the holding company for the bank. Currently owned 75.57% stake, with the rest were floated in Borsa Italiana. The largest shareholders of Credem Holding were Cofimar S.r.l. and Max Mara Finance S.r.l., which in turn owned 29.44% and 8.30% stake of the bank respectively.[8]

Subsidiaries and joint venture

bank
specialized bank
  • Credemleasing
  • Credemfactor
  • Credem Private Equity SGR
  • Euromobiliare Fiduciaria
  • Euromobiliare Asset Management SGR
insurance companies

References

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