Banca Popolare di Vicenza

Last updated
Banca Popolare di Vicenza
Native name
Banca Popolare di Vicenza S.p.A.
Company type
IndustryFinancial services
Founded1866
Headquarters
Vicenza
,
Italy
Number of locations
Decrease2.svg 541 locations (Dec.2016)
Area served
  • 16 regions of Italy
  • worldwide (Republic of Ireland, New York, São Paulo, Moscow, New Delhi, Hong Kong and Shanghai)
Key people
ServicesRetail and corporate banking
RevenueDecrease2.svg €720 million (2016)
Decrease2.svg €32.6 million (2016)
Decrease2.svg(€1.902  billion) (2016)
Total assets Decrease2.svg €34.424 billion (2016)
Total equity Decrease2.svg €2.149 billion (2016)
Owner Atlante (99.33%)
Number of employees
Decrease2.svg 5,147 (2016 average)
Parent Atlante
Subsidiaries
Banca Nuova (100%)
FarBanca (70.77%)
ABC Assicura
Berica Vita
Cattolica Life
Capital ratio Increase2.svg 7.47% (CET1, Dec.2016)
Rating Moody's
Footnotes /references
in consolidated financial statement [1]

Banca Popolare di Vicenza (BPVi) was an Italian bank and currently a winding-down company. The banking group along was the 15th-largest retail and corporate bank of Italy by total assets at 31 December 2016, according to Mediobanca. [2] However, its sister bank Veneto Banca also ranked 16th in the same ranking, making the whole banking group that under Atlante, had a higher pro-forma total assets than 10th of the same ranking, Crédit Agricole Italia. Due to its size, BPVi and Veneto Banca were both supervised by the European Central Bank directly, instead of the Bank of Italy.

Contents

BPVi was a multi-regional bank which had branches in most of the Italy regions, except Aosta Valley in the north, Molise and Basilicata in the south, as well as Sardinia Island. Moreover, only one branch in Campania, Abruzzo, Marche and only two branches in Apulia, Trentino—South Tyrol and Umbria. [3] The bank had 193 branches in Veneto, 67 in Lombardy, 61 in Tuscany and 50 in Friuli—Venezia Giulia as its core region. [3] Through Banca Nuova, BPVi also had 81 branches in southern Italy (Sicily and Calabria).

The bank, according to a 2015 annual report, was owned by the public of more than 100,000 natural persons (88.5%). [4] Only 11.5% were owned by companies, administrative bodies and institutions, such as Cattolica Assicurazioni (0.89%) [5] and Fondazione Cariprato (0.35%). [6] However, after a bail-out by Atlante, the private equity fund owned 99.33% as at mid-2016. However, the bank required a second bail-out by the Italian Government in 2017, in which the good assets of the bank were acquired by Intesa Sanpaolo for €1, plus the government funding the recapitalization and the cost of closure of branches. The remaining portion of BPVi would be winding-down and being liquidated.

The bank had two major subsidiaries, Banca Nuova, operated mainly in Sicily and Calabria, as well as FarBanca, a bank for pharmacists. The bank expanded in the 1990s by merging with other co-operative Popular Bank (Italian : Banca Popolare) of the whole of Italy.

History

Banca Popolare di Vicenza was the first cooperative bank in Veneto region. The bank was also known as Banca Popolare Vicentina.

Acquisitions

In 1985 the bank acquired Banca Popolare Agricola di Lonigo, in 1988 Banca Popolare di Thiene, in 1991 Banca Popolare dei Sette Comuni-Asiago, in 1994 Banca Popolare di Venezia, in 1996 Banca Popolare di Castelfranco Veneto [7] (became Banca Popolare della Provincia di Treviso in 1999) [8] [9] and Banca Popolare di Trieste, in 1997 Banca Popolare della Provincia di Belluno, [10] in 1998 Banca Popolare "C. Piva" di Valdobbiadene and Banca Popolare Udinese. [10] [11] The acquisitions at that time were led by chairman Gianni Zonin  [ it ], and the bank was credited by the news report as "aggregating bank". [11] Zonin remained as the chairman of the bank until 2016, and stepped down after multiple scandals were exposed.

In 2000, the BPVi banking group formed Banca Nuova in Palermo and acquired Banca del Popolo of Trapani, which they merged in 2002. [10] In 2002 the group acquired Cassa di Risparmio di Prato (Cariprato) from Banca Monte dei Paschi di Siena, which had 60 branches mainly in Tuscany region. [10] In 2010 Cariprato was absorbed into the bank.

BPVi was the ninth-largest shareholder of Banca Nazionale del Lavoro (BNL) for 3.63682% ordinary shares (at the end of year 2004). [12] BNL was privatized by BNP Paribas after Bancopoli.

In 2007 61 branches were acquired from UBI Banca, mainly based in the Provinces of Brescia and Bergamo, Lombardy. [10] In 2014, 16 branches were acquired from Cassa di Risparmio di Ferrara [13] as well as one branch in Turin was acquired from Banca Popolare di Spoleto. [13]

Alliances

The bank was a member of an alliance "North East Group" in the 1980s, which consisted of Banca Agricola Mantovana (BAM), Banca Popolare di Bergamo, Banca Popolare dell'Emilia, Banca Popolare di Sondrio (BPSO), Banca Popolare di Verona and Banca Popolare Vicentina. The group joined with ARCA, which consists of Banca Antoniana, Banca Popolare Commercio e Industria, Banca Popolare di Crema, Banca Popolare di Cremona, Banca Popolare di Lodi and Banca Popolare Veneta in 1989. [14] [15] As at 31 December 2015 BPVi still owned 19.99% stake in ARCA SGR.

The banks of the alliance merged within and outside the alliance to form Banca Antonveneta (1996, acquired by ABN AMRO in 2005), BPU Banca (2003, merged with Banca Lombarda in 2007), Banca Popolare Italiana (BPI, ex-Banca Popolare di Lodi), Banco Popolare di Verona e Novara (2002; merged with BPI in 2007), Banca Popolare dell'Emilia Romagna (BPER Banca; 1992), or acquired by other banking groups (such as BAM). After many years of merger and acquisitions, BPVi, BPER, UBI Banca, Banco Popolare and BPSO were the 5 surviving banking groups, plus Banca Monte dei Paschi di Siena which acquired and absorbed BAM and Antonveneta.

BPVi also signed an agreement with Banca Popolare Veneta (from Padua), Banca Popolare di Asolo e Montebelluna (from the Province of Treviso) and Banca Popolare di Castelfranco Veneto (from the Province of Treviso) on dividing the market of the Province of Padua, Treviso and Vicenza in 1992. However, the regulator Bank of Italy ruled that the agreement was anti-competitive in 1996. [16] After the ruling BPVi acquired Treviso based Banca Popolare di Castelfranco Veneto in 1996 and Banca Popolare "C. Piva" di Valdobbiadene in 1998. The competitors of BPVi in Veneto also became UniCredit (ex-Cariverona Banca), Intesa Sanpaolo (ex-Ambroveneto), Banca Monte dei Paschi di Siena (ex-Antonveneta), Banco Popolare (ex-BP Verona), Veneto Banca (ex-BP Asolo e Montebelluna) and Volksbank – Banca Popolare (ex-Banca Popolare di Marostica) after many merger and acquisitions.

The bank also partnered with Banca di Roma in 2000; [17] however, BPVi breakup with Banca di Roma and did not involve in the birth of Capitalia, which was absorbed by UniCredit in 2007.

BPVi was alliances with insurer Cattolica Assicurazioni until 2016, which the bank still owned 15.07% stake as of 31 December 2015. [4] [10] However, after the failed capital increase of the bank in mid-2016, the insurer terminated the partnership.

Recent history

The bank was one of the 14 Italian banks that were supervised by the European Central Bank (ECB) directly since 2014 due to their size. [18] The bank was among the four Italian banks (Banca Popolare di Milano (BPM), Banca Carige and Banca Monte dei Paschi di Siena (BMPS) ) that failed the stress tests in 2014. [19] BPVi and BPM passed the tests after recapitalization. [20] In 2014 BPVi also submitted a plan to Banca Popolare dell'Etruria e del Lazio for a possible merger. [21] However, it was rejected.

Due to Decree-Law N°3/2015, [22] in 2016 the bank became a limited company with demutualization. The bank also planned another capital increase of €1.5 billion (the CET1 capital ratio was just 6%, below ECB requirements of 10.25% following the 2015 Supervisory Review and Evaluation Process (SREP), as well as floats the shares in Borsa Italiana. [4] The bank wrote down €1.333 billion worth of customer loans in the 2015 financial year. [23] As part of the demutualization, the bank bought back 271,339 shares for €6.3, a fraction of net equity per shares (about €25 at 31 December 2015) and the offer price of the new shares in 2014 and 2015. [24] However, on the same day, the bank also announced that due to low demand, the new shares would be sold at €3 to €0.1 per share, in order to raise a minimum of €1.51 billion to a maximum of €1.8 billion. [25] The prospects of the initial public offering also exposed that the bank lent money to customers in order to buy the bank's own shares back to 2014 and 2015. With the collapse of the price of the shares, the loan would become non-performing.

Due to low demand on IPO, the entire capital increase of €1.5 billion was subscribed by Atlante, it also due to some subscriptions were automatically canceled due to the bank fail to float in the borsa. [26] [27]

On 13 July 2016 Gianni Mion became the new chairman, as well as confirming Francesco Iorio as CEO. [28]

On 4 August 2016 Cattolica terminated the partnership with BPVi and excised the put option to sell the three joint ventures to the bank. [29] On 5 April 2017, BPVi sold 6.02% shares of Cattolica Assicurazioni for €76.125 million (€7.25 per share). [30]

On 6 December 2016, former BMPS CEO Fabrizio Viola was appointed as new CEO of the bank. [31]

Followed by the announcement of 2016 SREP, which BPVi required to keep a CET1 and Tier 1 ratio of 8.75% and 10.25% respectively (however, the bank did not have additional Tier 1 capital instruments, thus the bank have to keep a de facto 10.25% CET1 capital ratio, same as last year) as well as an undisclosed Pillar 2 guidance, [32] Atlante deposited €310 million for future capital increase, [33] as the bank was just 0.5% higher than the requirement (Tier 1 ratio of 10.75% at 30 June 2016 according to 2016 half-yearly report). [3] On 3 February 2017, BPVi issued a 3-year €3 billion face value bond with the state-guarantee in order to strengthen its capital base. [34] On 20 February, the bank announced that €1.25 billion of the bond were sold to market [35] and the rest were retained by the bank. The bank issued an additional €2.2 billion state-guaranteed bond in May 2017. [36] [37]

On 9 January 2017 the bank offered to buy back the share from retail investors as a part of the settlement of mis-selling (for investors from 2007 to 2016), for €9 per share. [38] As at 30 June 2016 the bank had net assets of €3,211,437 thousands or about €0.2 in terms of net assets per share due to a huge dilute in 2016 capital increase. [3] The NAV was decreased further at 31 December 2016 due to heavy loan write-down. Thus, the price that the bank offered was a favorable one to customers that did not want to seek legal action, as €192.8 million of shares were bought back by the bank from 66,770 shareholders, or 71.9% of shareholders. [39]

In March 2017, BPVi (and sister bank Veneto Banca) requested a "precautionary recapitalization" by the Italian state, [40] as well as a proposal to merge the two banks. A government bank rescue fund had already been set up in December 2016 for €20 billion.

Based on the bank interpretation on the 2016 stress test of the European Central Bank, BPVi along had a capital shortfall of €3.3 billion in the worst forecast scenario (if setting the CET 1 Ratio target even at the worst forecast scenario at 8%). After deducting the contribution from Atlante, the bank seeks investors, including the government for the remaining €2.99 billion shortfall. [41]

Liquidation

On 23 June 2017, the European Central Bank and the Single Resolution Board determined BPVi and sister bank Veneto Banca were insolvent, but not yet fulfilled the criteria to put the bank in resolution. The two banks would be wound up by the Italian government under Italian laws, into good and bad banks instead. [42] [43] [44] After expressing the interests to acquire some of the good assets (the "good banks") of Veneto Banca and BPVi, [45] a contract was signed on 26 June, between the government and Intesa Sanpaolo. [46] However, FarBanca was excluded from the sales. The European Commission also approved the state aid of Italy to Intesa Sanpaolo for the incentive to close down the branches of the "good banks" (as some of them overlapped with Intesa's network), as well as recapitalized the good banks, for about €4.785 billion on 25 June. [47] As part of the "bail-in" rule, Atlante and other shareholders and subordinated bondholders would receive nothing. [47] However, Intesa also announced that the bank would set up a fund to repay the bonds that were held by small investors. [46]

It was reported that the NPLs of the bank would be sold to Società per la Gestione di Attività by the liquidators, which was a special incorporated "bad bank" for Banco di Napoli and a wholly owned subsidiary of the government. [48]

The whole banking system of Italy had spent over €4 billion in mandatory contribution to the resolution of 4 small banks between 2015 and 2017, with some bank contributing in the FITD voluntary scheme's €280 million "investment" in C.R. Cesena, as well as part of the €3.4 billion "investment" in Atlante bank rescue fund on BPVi and Veneto Banca and BPVi. On 15 June, FITD, one of the two deposit insurance funds by bank mandatory contribution in Italy (voluntary scheme of the fund was funded by voluntary contribution), had said the fund did not have money to rescue as well as the voluntary scheme of the fund would not be activated as there was no agreement between the members of the fund. [49]

Subsidiaries

current
former

Equity interests

former

Sponsorship

The bank was the main sponsor of Vicenza Calcio (since 2001, shirt sponsor circa 2010) [4] [51] as well as city rival Real Vicenza. [52] The bank also sponsored Udinese Calcio, [53] Pallacanestro Trapani, Trapani Calcio, and U.S. Città di Palermo (all three through Banca Nuova). [54]

See also

Related Research Articles

<span class="mw-page-title-main">Banca Antonveneta</span> Italian bank based in Padua, Italy

Banca Antonveneta S.p.A. was an Italian bank based in Padua, Italy. The bank was absorbed into Banca Monte dei Paschi di Siena in 2013.

Banca Intesa S.p.A. was an Italian banking group. It was formed in 1998. The next year, the banking group merged with Banca Commerciale Italiana to become IntesaBCi, but the name of the group was reverted to Banca Intesa in 2003. In 2007, Banca Intesa merged with another banking group Sanpaolo IMI to become Intesa Sanpaolo, one of few domestic, systemically important banks of Italy.

<span class="mw-page-title-main">Sanpaolo IMI</span>

Sanpaolo IMI S.p.A. was an Italian banking and insurance conglomerate, based in Turin. It employed about 44,000 people and had about 7 million customers.

<span class="mw-page-title-main">Intesa Sanpaolo</span> Italian banking group

Intesa Sanpaolo S.p.A. is an Italian international banking group. It is Italy's largest bank by total assets and the world's 27th largest. It was formed through the merger of Banca Intesa and Sanpaolo IMI in 2007, but has a corporate identity stretching back to its first foundation as Istituto Bancario San Paolo di Torino in 1583.

<span class="mw-page-title-main">UBI Banca</span> Italian banking group

Unione di Banche Italiane S.p.A., commonly known for its trading name UBI Banca, was an Italian banking group, the fifth largest in Italy by number of branches. It was formed on 1 April 2007 from the merger of the Banche Popolari Unite and Banca Lombarda e Piemontese banking groups.

Crédit Agricole Italia S.p.A., formerly Crédit Agricole Cariparma S.p.A., is an Italian banking group, a subsidiary of French banking group Crédit Agricole. Crédit Agricole Italia was ranked as the 11th largest bank in Italy by total assets at 31 December 2015. The group serving Emilia-Romagna, Liguria and Friuli Venezia Giulia, where the predecessors originated, as well as Campania, Lazio, Lombardy, Piedmont, Tuscany, Umbria and Veneto, or half of Italian regions.

Crédit Agricole FriulAdria S.p.A. formerly known as Banca Popolare FriulAdria S.p.A., or known as FriulAdria in short, is an Italian bank, which is part of Crédit Agricole Italia, the Italian arm of French banking group Crédit Agricole.

Veneto Banca S.p.A. is a former Italian bank headquartered in Montebelluna, Italy and currently a wind-down unit.

Banca Adriatica S.p.A. trading as UBI Banca Adriatica and formerly known as Nuova Banca delle Marche S.p.A. was an Italian bank based in Jesi, Marche region. It has operations in several regions in central Italy, but concentrated in Marche region, which 73% of the branches were located in that region as of 2016. The bank was formed on 22 November 2015 by the spin off of the good assets of the original Banca delle Marche S.p.A..

<span class="mw-page-title-main">Banca Intermobiliare</span>

Banca Intermobiliare di Investimenti e Gestioni S.p.A. known as Banca Intermobiliare or just BIM is a Turin-based wealth management bank.

Banca Popolare di Cividale is an Italian cooperative bank based in Cividale del Friuli, Friuli - Venezia Giulia.

Nuova Banca Mediterranea S.p.A. was an Italian bank based in Potenza, Basilicata. The bank was absorbed by Banca Popolare di Bari in 2004.

The Fondazione Cassa di Risparmio di Parma e Monte di Credito su Pegno di Busseto, known as Fondazione Cariparma, is an Italian banking foundation and former bank that spin off its banking activities in 1991. The foundation currently is a minority shareholder of Crédit Agricole Cariparma.

Associazione di Fondazioni e di Casse di Risparmio S.p.A. is an Italian banking association. The members were the savings banks of Italy, or the foundation that originate from the reform trigger by Legge Amato.

Atlante is an Italian banking sector owned bail-out equity fund that is dedicated to recapitalize some Italian banks, as well as purchase the securities of the junior tranches of non-performing loans. It was established in 2015 in response to the Italian bad debt crisis of that year. The fund was under regulation by the EU Alternative Investment Fund Managers Directive.

Banca Apulia S.p.A. marketed as BancApulia is an Italian bank incorporated in San Severo, in the Province of Foggia, Apulia region. The main office of the bank was located in Bari, in the centre of Apulia region instead. The bank was takeover by Intesa Sanpaolo, after the previous owner was under administration and then being liquidated.

<span class="mw-page-title-main">Cattolica Assicurazioni</span>

Società Cattolica di Assicurazione – Società Cooperativa known as Cattolica Assicurazioni is an Italian insurance company. According to Ricerche e Studi, a subsidiary of Mediobanca, the group had €5,382,471,000 gross premiums written making it the 6th largest Italian insurance company, or the fifth excluding Allianz, a subsidiary of the German insurer. Research by ANIA, showed the insurer as being ranked 5th by market share in non-life insurance (5.63%), but not in the top 5 in life insurance.

Banca Popolare Sant'Angelo S.C.p.A. is an Italian cooperative bank based in Licata and Palermo, the capital of Sicily. The bank also has one branch in Lampedusa, the south most island of Italy and also has a branch in Rome.

Banca Nuova S.p.A. was an Italian bank headquartered in Palermo, Sicily island. The bank served the island mostly, with branches in the Calabria region; It was a subsidiary of Banca Popolare di Vicenza (BPVi), in turn owned by Atlante, a banking sector owned bail-out fund from 2016 to mid-2017. In June 2017 the bank was acquired by Intesa Sanpaolo by another government-funded bail-out, and a plan to absorb the bank was announced in October 2017.

Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona known as Cariverona in short, was an Italian savings bank headquartered in Verona. In 1991, due to Legge Amato, the bank was split into two organizations, Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona S.p.A. and Fondazione Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona. They joined Unicredito banking group as founding subsidiary and shareholder respectively. The banking foundation was a minority shareholder of the successor of the banking group UniCredit.

References

  1. ↑ "Approved the draft parent company and consolidated annual report as at 31 December 2016". BPVi. 28 March 2017. Retrieved 1 April 2017.
  2. ↑ "LE PRINCIPALI BANCHE ITALIANE [2017]" (PDF) (in Italian). Ricerche e Studi. 24 October 2017. Archived from the original (PDF) on 28 October 2017. Retrieved 28 October 2017.
  3. 1 2 3 4 "2016 Half-Yearly Report" (PDF). BPVi. 12 October 2016. Retrieved 12 January 2017.
  4. 1 2 3 4 "2015 Annual Report" (PDF). Banca Popolare di Vicenza. 25 March 2016. Retrieved 15 April 2016.
  5. ↑ "2015 Bilancio Consolidato" (PDF) (in Italian). Cattolica Assicurazioni. 6 April 2016. Retrieved 21 April 2016.
  6. ↑ "2015 bilancio" (PDF) (in Italian). Fondazione Cariprato. 2016. Retrieved 1 June 2016.
  7. ↑ "Archived copy" (PDF). Archived from the original (PDF) on 2017-11-07. Retrieved 2017-10-30.{{cite web}}: CS1 maint: archived copy as title (link)
  8. ↑ "Gazzetta Ufficiale". www.gazzettaufficiale.it.
  9. ↑ "Commissione Nazionale per le Società e la Borsa". www.consob.it. Archived from the original on 2015-04-02. Retrieved 2015-03-26.
  10. 1 2 3 4 5 6 La storia Banca Popolare di Vicenza (in Italian) Archived March 30, 2015, at the Wayback Machine
  11. 1 2 "Banche, passaggio a Nord Est". La Repubblica (in Italian). Rome: Gruppo Editoriale L'Espresso. 8 June 1998. Retrieved 17 November 2017.
  12. ↑ 2004 bilancio Banca Nazionale del Lavoro (in Italian)
  13. 1 2 "2014 bilancio" (PDF) (in Italian). Banca Popolare di Vicenza. 24 April 2015. Archived from the original (PDF) on 2016-06-17. Retrieved 20 April 2016.
  14. ↑ "PER LE DODICI POPOLARI DI ARCA-NORDEST NUOVI UFFICI ALL' ESTERO". La Repubblica (in Italian). 16 June 1989. Retrieved 23 April 2016.
  15. ↑ "banche popolari: 12 istituti in gruppo arca nordest" (in Italian). Agenzia Giornalistica Italia. 8 June 1989. Archived from the original on 2016-05-14. Retrieved 23 April 2016.
  16. ↑ "Provvedimento N°17: Banche Popolari Venete" (PDF) (in Italian). Bank of Italy. 30 January 1996. Retrieved 23 April 2016.
  17. ↑ "Nuova alleanza in vista per Banca di Roma". Corriere della Sera (in Italian). 4 January 2000. Retrieved 26 March 2015.
  18. ↑ "List of supervised entities" (PDF). European Central Bank. 1 January 2016. Retrieved 13 April 2016.
  19. ↑ "AGGREGATE REPORT ON THE COMPREHENSIVE ASSESSMENT" (PDF). European Central Bank. October 2014. Retrieved 26 March 2015.
  20. ↑ "Monte Paschi has 2.1 billion euro shortfall after EU stress test: Bank of Italy". Reuters. 26 October 2014. Retrieved 26 March 2015.
  21. ↑ "Comunicato stampa" (PDF) (Press release) (in Italian). Banca Popolare dell'Etruria e del Lazio. 29 May 2014. Retrieved 14 June 2017.
  22. ↑ Fonte, Giuseppe (21 January 2015). "Italy's Renzi presents landmark banking reform". Reuters. Retrieved 19 February 2018.
  23. ↑ "BANCA POPOLARE DI VICENZA: SHAREHOLDERS' MEETING" (PDF) (Press release). Banca Popolare di Vicenza. 26 March 2016. Retrieved 16 April 2016.
  24. ↑ "AVVISO SUI RISULTATI DELL'ESERCIZIO DEL DIRITTO DI RECESSO IN RELAZIONE ALLA TRASFORMAZIONE DI BANCA POPOLARE DI VICENZA" (PDF) (Press release) (in Italian). Banca Popolare di Vicenza. 19 April 2016. Retrieved 20 April 2016.
  25. ↑ "Offerta delle azioni di Banca Popolare di Vicenza: definita la "forchetta di prezzo" indicativa Minimo 0,10 Euro per azione, massimo 3,00 Euro per azione" (PDF) (Press release) (in Italian). Banca Popolare di Vicenza. 19 April 2016. Retrieved 20 April 2016.
  26. ↑ "BANCA POPOLARE DI VICENZA: COMPLETED GLOBAL OFFERING. OFFER PRICE SET AT EURO 0.10 PER SHARE" (PDF) (Press release). Banca Popolare di Vicenza. 30 April 2016. Retrieved 1 May 2016.
  27. ↑ "Press Release" (PDF) (Press release). BPVi. 2 May 2016. Retrieved 6 September 2016.
  28. ↑ "BOARD OF DIRECTORS BANCA POPOLARE DI VICENZA: APPOINTMENT OF OFFICES TO DIRECTORS; APPOINTMENT OF MEMBERS OF INTERNAL BOARD COMMITTEES" (PDF) (Press release). BPVi. 13 July 2016. Retrieved 12 January 2017.
  29. ↑ "CATTOLICA ASSICURAZIONI EXERCISES THE RIGHT OF WITHDRAWAL FROM THE PARTNERSHIP WITH BANCA POPOLARE DI VICENZA" (PDF) (Press release). Cattolica Assicurazioni. 4 August 2016. Retrieved 8 August 2016.
  30. ↑ "Sold 6% stake in Cattolica Assicurazioni though an ABB process" (Press release). BPVi. 5 April 2017. Retrieved 23 April 2017.
  31. ↑ "FABRIZIO VIOLA NEW CEO OF BANCA POPOLARE DI VICENZA" (PDF) (Press release). BPVi. 6 December 2016. Retrieved 12 January 2017.
  32. ↑ "OUTCOME OF THE SUPERVISORY REVIEW AND EVALUATION PROCESS (SREP)" (PDF) (Press release). BPVi. 16 December 2016. Retrieved 12 January 2017.
  33. ↑ "Press Release" (PDF) (Press release). BPVi. 21 December 2016. Retrieved 12 January 2017.
  34. ↑ "Issuance of State guaranteed bond" (PDF) (Press release). BPVi. 3 February 2017. Retrieved 13 February 2017.
  35. ↑ "SUCCESSFUL COMPLETION OF THE OFFERING OF EURO 1.25 BILLION BOND GUARANTEED BY THE ITALIAN GOVERNMENT" (PDF) (Press release). BPVi. 20 February 2017. Retrieved 1 March 2017.
  36. ↑ "State guarantee on new bond issues of 2.2bn euro" (PDF) (Press release). BPVi. 25 May 2017. Retrieved 31 May 2017.
  37. ↑ "State-guaranteed bond issuance of nominal 2.2 billion euro" (PDF) (Press release). BPVi. 1 June 2017. Retrieved 6 June 2017.
  38. ↑ "Press Release" (PDF) (Press release). BPVi. 9 January 2017. Retrieved 12 January 2017.
  39. ↑ "Settlement Offer effective. "Welfare Initiative" will come into effect on 8 May 2017" (Press release). BPVi. 11 April 2017. Retrieved 31 May 2017.
  40. ↑ "Banca Popolare di Vicenza informed the Competent Authorities the intention to apply to the "precautionary recapitalization"" (Press release). BPVi. 17 March 2017. Retrieved 5 April 2017.
  41. ↑ "Press Release" (Press release). BPVi. 4 April 2017. Retrieved 1 May 2017.
  42. ↑ Fairless, Tom (23 June 2017). "European Central Bank Orders Two Italian Lenders Closed" – via www.wsj.com.
  43. ↑ Ewing, Jack (2017-06-23). "European Central Bank Moves to Wind Down Two Italian Banks". The New York Times. ISSN   0362-4331 . Retrieved 2017-06-24.
  44. ↑ "ECB deemed Veneto Banca and Banca Popolare di Vicenza failing or likely to fail". European Central Bank. 23 June 2017. Retrieved 24 June 2017.
  45. ↑ "Intesa Sanpaolo is available to acquire certain assets and liabilities of Banca Popolare di Vicenza and Veneto Banca under specific conditions" (Press release). Intesa Sanpaolo. 21 June 2017. Retrieved 24 June 2017.
  46. 1 2 "Intesa Sanpaolo signs contract to acquire certain assets and liabilities of Banca Popolare di Vicenza and Veneto Banca". Intesa Sanpaolo. 26 June 2017. Retrieved 26 June 2017.
  47. 1 2 "State aid: Commission approves aid for market exit of Banca Popolare di Vicenza and Veneto Banca under Italian insolvency law, involving sale of some parts to Intesa Sanpaolo". European Commission. 25 June 2017. Retrieved 26 June 2017.
  48. ↑ "Il ritorno della Sga: la bad bank del Banco di Napoli e le speranze del Tesoro". La Repubblica (in Italian). 28 June 2017. Retrieved 29 October 2017.
  49. ↑ "Veneto Banca Popolare di Vicenza: FITD non sarà il salvatore, Unicredit e Intesa sono isolate". investireoggi (in Italian). 15 June 2017. Retrieved 26 June 2017.
  50. ↑ "Banca Popolare di Vicenza completes the sale of 0.683% of IMA's ordinary share capital" (PDF). BPVi. 5 May 2017. Retrieved 10 May 2017.
  51. ↑ "Presentazione Ufficiale della Squadra" (in Italian). Vicenza Calcio. 25 August 2011. Archived from the original on 2 April 2015. Retrieved 26 March 2015.
  52. ↑ "PRESENTAZIONE DI MICHELE MARCOLINI" (in Italian). Real Vicenza V.S. 2014. Retrieved 26 March 2015.
  53. ↑ "Banca Popolare di Vicenza è Sponsor Istituzionale Gold di Udinese Calcio" (in Italian). Banca Popolare di Vicenza. 2 September 2011. Retrieved 26 March 2015.
  54. ↑ "Banca Nuova rinnova il contratto con il Palermo Calcio" (in Italian). U.S. Città di Palermo. 8 August 2008. Retrieved 25 March 2015.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.