Veneto Banca

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Veneto Banca
Formerly called
  • Banca Popolare di Montebelluna
  • Banca Popolare di Asolo e Montebelluna
Società per Azioni
Industry Financial services
Founded 1877
Headquarters
  • 1 Piazza G.B. Dall'Armi, Montebelluna, Italy (legal)
  • 250 via Feltrina Sud, Montebelluna, Italy (de facto)
Number of locations
Decrease 550 branches (2015)
Services Retail and corporate banking
Increase (€881.902 million) (2015)
Total assets Decrease €33.349 billion (2015)
Total equity Decrease €2,007,931 thousands (2015)
Number of employees
5,703 (2015 average)
Subsidiaries Banca Intermobiliare
Capital ratio Decrease 7.23% (CET1)
Website
Footnotes / references
in consolidated basis[1]

Veneto Banca S.p.A. is an Italian bank headquartered in Montebelluna, Italy. The bank changed from cooperative society to limited company in December 2015.

According to a research by Ricerche e Studi, the bank was ranked 16th by total assets, using 2014 data.[2] The banks was one of the fourteen largest banks of Italy, which were supervised by European Central Bank directly.

History

Established in 1877 as Banca Popolare di Montebelluna, in the 1960s the bank started its expansion acquiring some local cooperative banks and savings banks, such as Banca Popolare di Intra. An intense development stage starts in 2000, with the expansion in North-West and Southern Italy and the acquiring of banks in Eastern Europe.

In 2001–2002 Veneto Banca acquired 29 branches of Nuova Banca Mediterranea from Banca di Roma, which were immediately injected to Banca Meridiana (ex-Banca Popolare del Levante). Banca Meridiana was merged with Banca Apulia, another subsidiary of Veneto Banca in 2010.

The banks was one of the fourteen largest banks of Italy, which were supervised by European Central Bank directly. The bank passed the stress test by recapitalization in 2014.[3]

Due to Decree-Law N°3/2015, the bank changed from a cooperative limited partnership (Italian: Società cooperativa per Azioni ) to Società per Azioni in December 2015, affecting the calculation of voting rights (every shareholders had one vote regardless how many shares he had in cooperative society).[4] The Decree-Law required People's Bank with more than €8 billion total assets, had to registered as limited company instead. Veneto also bought back €14,725,910.40 shares (€7.3 per share) as part of the demutualization.[5] The bank also planned to recapitalize €1 billion in early 2016 (due to CET1 ratio was below ECB requirement of 10%), as well as planning to list in Borsa Italiana in mid-2016. As at 31 March 2016 the bank had a net assets per share of about €15.5, or €3 in nominal value. However, due to low demand of the new shares, the bank priced the new share at €0.5 to €0.1 per share.

Subsidiaries

Former subsidiaries

References

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External links

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