Istituto per il Credito Sportivo

Last updated
Istituto per il Credito Sportivo
Native name
Istituto per il Credito Sportivo
Type Ente di diritto pubblico con gestione autonoma
Headquarters
Rome
,
Italy
Owner
Parent Ministry of Economy and Finances
Website Official website

Istituto per il Credito Sportivo is an Italian public bank which was under special administration by Banca d'Italia since 2011.

Contents

According to new articles of association passed in 2014 (that superseded 2005 version), the bank was majority owned by Italian Ministry of Economy and Finances (80.438%), Cassa Depositi e Prestiti (2.214%) and Coni Servizi (a company owned by Ministry of Economy and Finances but associated with CONI) (6.702%) as well as other private banks: UniCredit, Banca Monte dei Paschi di Siena, Intesa Sanpaolo, Banca Nazionale del Lavoro, Assicurazioni Generali, Banco di Sardegna and Crediop. [1] the new articles of association recalculated the ownership ratio, making private sectors had owned just 11% capital of the bank. The articles of association was also modified in 1993. [2]

Services

The bank was specialized in sports venue, for example a €60 million loan to Juventus F.C. S.p.A. for its Juventus Stadium project; [3] The institution also formed a preliminary agreement with Cagliari of €17.5 million for the proposed new stadium in Elmas, [4] as well as negotiated with Bologna for the re-built of Stadio Renato Dall'Ara. [5] The institution loaned €20 million to Calcio Catania for its Torre del Grifo Village project in Mascalucia, as well as factoring the sponsorship income with F.C. Internazionale Milano for €24.8 million, [6] and A.C. Milan for €17.5 million (2011–14). [7]

Shareholders

Despite a statutory corporation, Intesa Sanpaolo (previously Sanpaolo IMI and Banco di Napoli) and UniCredit (previously Capitalia and Banco di Sicilia) held 10.81% each in the institution until 2011, under a basis of €9,554,452 capital. [8] However a change in the articles of association had made the private sector ownership ratio fell from 73% to approximately 11%, under a basis of €835,528,692 capital. [9]

According to 2014 Articles of association, 45% profit would distributed as dividends and 50% went to increase in shareholders equity and a 5% either contributed to a special fund inside the institute dedicated to social and cultural activity. [10] The change in status had affected the ownership ratio thus affected the ratio of distributed the dividends.

Financial data

YearTotal Assets (in €)Shareholders equity (in €)Tier 1 capital rationet profit (in €)
2004 [11] 1,737,151,8071,158,349,294248%40,348,010
2005 [12] Increase2.svg 1,821,907,905Decrease2.svg 705,056,409Decrease2.svg 132%Decrease2.svg 35,643,966
2006
2007
2008
2009
2010 [13] Increase2.svg 1,924,691,567Increase2.svg 771.828.375Increase2.svg 61%Decrease2.svg 16,076,051
2011 [14] Increase2.svg 2,005,721,547Increase2.svg 774,071,132Increase2.svg 85%Decrease2.svg 14,165,823

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References

  1. "Dati patrimoniali" (in Italian). Istituto per il Credito Sportivo. 2011. Retrieved 2 June 2015.
  2. "STATUTO" [Articles of association](PDF) (in Italian). Istituto per il Credito Sportivo. Archived from the original (PDF) on 9 June 2004. Retrieved 22 March 2016.
  3. "Second agreement with the ICS for the financing of further works in the framework of the stadium area" (PDF). Juventus F.C. 14 May 2010. Archived from the original (PDF) on 12 June 2015. Retrieved 2 June 2015.
  4. "Cagliari Calcio-ICS: conferenza stampa a Elmas" (in Italian). Cagliari Calcio. 15 July 2011. Retrieved 2 June 2015.
  5. "Stadio, Bologna pronto con 100 milioni Ok del Credito sportivo per il progetto". Corriere di Bologna (in Italian). 21 January 2015. Retrieved 2 June 2015.
  6. F.C. Internazionale Milano S.p.A. bilancio (financial report and accounts) on 30 June 2012 (in Italian), PDF purchased from Italian C.C.I.A.A.
  7. "Relazione e Bilancio al 31 Dicembre 2011" (PDF) (in Italian). A.C. Milan. 25 June 2012. Archived from the original (PDF) on 16 June 2015. Retrieved 1 June 2015.
  8. "STATUTO" [Articles of association](PDF) (in Italian). Istituto per il Credito Sportivo. 5 December 2005. Archived from the original (PDF) on 25 September 2007. Retrieved 2 June 2015.
  9. "SUPPLEMENT DATED 25 SEPTEMBER 2014 TO THE BASE PROSPECTUS DATED 31 JULY 2014" (PDF). Intesa Sanpaolo. 25 September 2014. Retrieved 2 June 2015.
  10. "STATUTO" [Articles of association](PDF) (in Italian). Istituto per il Credito Sportivo. 24 January 2014. Retrieved 2 June 2015.
  11. https://web.archive.org/web/20050416051220/http://www.creditosportivo.it/bilanci.htm
  12. 2005 Bilancio
  13. 2010 bilancio
  14. Progetto della situazione patrimoniale ed economica al 31/12/2011