Banca Nuova S.p.A. was an Italian bank headquartered in Palermo, Sicily island. The bank served the island (the region) mostly, with branches in Calabria region; It was a subsidiary of

Banca Popolare di Vicenza 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. However, its si ...

(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 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 s ...

by another government-funded bail-out, and a plan to absorb the bank was announced in October 2017.

History

The predecessors of the bank, ldBanca Nuova S.p.A. and Banca del Popolo – Banca Popolare (Banca del Popolo S.p.A., located in Trapani), were formed/acquired by

(BPVi) of the northern Italy in 2000. In July 2002 the ldBanca Nuova was merged into Banca del Popolo, which the

legal person In law, a legal person is any person or 'thing' (less ambiguously, any legal entity) that can do the things a human person is usually able to do in law – such as enter into contracts, sue and be sued, own property, and so on. The reason for ...

of Banca del Popolo was renamed to

ewer In American English, a pitcher is a container with a spout used for storing and pouring liquids. In English-speaking countries outside North America, a jug is any container with a handle and a mouth and spout for liquid – American "pitchers" wil ...

Banca Nuova S.p.A., relocating its headquarters from Trapani to Palermo. ldBanca Nuova S.p.A. was a new company incorporated on 25 August 2000 in the Province of Treviso, and acquired 20 branches (19 in Calabria region and 1 in Rieti, Lazio region) from

Banca Intesa Banca Intesa S.p.A. was an Italian banking group. It was formed in 1998. In the next year the banking group merged with another bank Banca Commerciale Italiana to become IntesaBCi. However, the name of the group was reverted to Banca Intesa in 2 ...

banking group (from its subsidiaries

Banca Carime Banca Carime S.p.A. was an Italian bank based in Cosenza, Calabria. The bank was a subsidiary of UBI Banca. As of 31 December 2015, the bank had 216 branches (all located in Southern Italy), serving Calabria (84 branches), Apulia (93 branches), ...

and Cassa di Risparmio di Rieti respectively) on 1 January 2001. In February 2002 it had 30 branches in the aforementioned area, as well as in Sicily Island, where the company was headquartered. The bank started to open branches on its own since 2000.

Banca del Popolo – Banca Popolare (1883–2002)

Banca del Popolo – Banca Popolare S.c. a r.l. was a cooperative bank founded in 1883 in Trapani. In 1996, it was exposed that one of the shareholder of the bank (8% of the share capital), Vincenzo Piazza, was linked to mafia. In terms of branches, Banca del Popolo was not part of the top 10 on the island in 1999; However, the bank was a leader (second) inside the Province of Trapani for 12.06% market share in 1997, in terms of deposits ( it, raccolta). The majority stake of the bank was acquired by BPVi circa 2000 and a "public offer to acquire" ( it, offerta pubblica di acquisto, OPA) the remaining shares was started in late 2000 and completed in February 2001. After the acquisition, the bank was

demutualized Demutualization is the process by which a customer-owned mutual organization (''mutual'') or co-operative changes legal form to a joint stock company. It is sometimes called stocking or privatization. As part of the demutualization process, memb ...

and became a ''

società per azioni ''Società'' (Italian: ''Society'') was an Italian communist cultural magazine published in Italy between 1945 and 1961. History and profile ''Società'' was founded as a quarterly magazine in Florence in 1945. The founders were Ranuccio Bianchi ...

'' circa 2000-01. The bank was merged with BPVi's Banca Nuova network in July 2002, the

of Banca del Popolo was the surviving entity after the merger, but not the name.

Banca Nuova (2002–2018)

Since merger of Banca Nuova and Banca del Popolo, the bank grown its network by acquiring from other banking group, as well as opening new branches by the bank itself. In 2004,

Banca Antoniana Popolare Veneta 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. In 2008, it was the 9th largest banking group in Italy in terms of customer loans and the 8th largest in terms ...

sold 30 branches to Banca Nuova. A subsidiary (later sister company), PrestiNuova S.p.A., was found in 2005. The company was specialized in secured loan (by a fifth of salary). , Banca Nuova owned 88.67% shares. The other shareholders at that time were parent company BPVi (6.34%) and fellow Sicilian bank

Banca Popolare Sant'Angelo Banca Popolare Sant'Angelo S.C.p.A. is an Italian cooperative bank based in Licata (in the Province of Agrigento) and Palermo, the capital of Sicily (in the province of the same name). The bank also has one branch in Lampedusa, the south most isl ...

(5%). On 1 March 2011, the old

of Banca Nuova was replaced by another of the same name, the latter was incorporated on 31 August 2010. After the deal, PrestiNuova became a sister company of Banca Nuova, instead of a subsidiary, which BPVi owned 95% and reaching 100% of the shares in 2013. Banca Nuova and its parent company BPVi suffered from capital shortfall in 2016 (for example, Banca Nuova's CET1 capital ratio was 6.74% at 31 December 2015, barely above the requirement; same condition in the parent company (Group's CET1 ratio was 6.65%)). After the failure of the

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

of its shares since its became a ''

'', the parent company was bail-out by its underwriter Atlante in mid-2016 for about €1.5 billion, which replaced

UniCredit UniCredit S.p.A. is an international banking group headquartered in Milan. It is Italy's only systemically important bank (according to the list provided by the Financial Stability Board in 2022) and the world's 34th largest by assets. It was for ...

as underwriter. As part of the scandal of the parent company BPVi in 2016–17, the bank was suffered from lawsuit regarding mis-selling of the shares of BPVi to the depositors of the bank, during the parent company was a

cooperative A cooperative (also known as co-operative, co-op, or coop) is "an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-control ...

( it, società cooperativa per azioni). After the financial condition of BPVi deteriorated further, it was declared by the

European Central Bank The European Central Bank (ECB) is the prime component of the monetary Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#Intern ...

(the supervisor of BPVi) that the banking group was insolvent in 2017. An Italian government funded bail-out of the depositors (and bail-in of the investor of BPVi) saw

, the second largest banking group of Italy by total assets, acquired most of the good assets and liabilities of BPVi, as well as Banca Nuova. However, it was also announced on 26 October, that the bank would be absorbed by Intesa Sanpaolo as branches, losing its brand and the separate incorporated status. The merger plan was approved by the board of directors of Intesa Sanpaolo on 5 February 2018. A public version of a decision of the

Italian Competition Authority The Italian Competition Authority ( it, Autorità Garante della Concorrenza e del Mercato, AGCM) is the competition regulator in Italy. It is an Italian Quango, quasi-autonomous non-governmental organization established on the basis of Law №287 o ...

, revealed that the bank (as part of BPVi), had a market share, in term of deposits ( it, raccolta bancaria), 5–10% in the Province of Trapani, as well as 0–5% in other 8 provinces of Sicily before the merger; the same decision also revealed that BPVi (through Banca Nuova and sister company) had a market share, in term of lending to families ( it, impieghi bancari (famiglie consumatrici)), 10–20% in the Province of Trapani and 5–10% in the Provinces of Agrigento, Caltanissetta, Enna, Messina, Palermo and 0–5% in the Provinces of Catania, Ragusa and Syracuse (Siracusa). On 11 July 2017 it was also announced that Banca Nuova had sold back some of the

non-performing loan A non-performing loan (NPL) is a bank loan that is subject to late repayment or is unlikely to be repaid by the borrower in full. Non-performing loans represent a major challenge for the banking sector, as it reduces the profitability of banks, and ...

s back to BPVi which now acted as a bad bank.

Sister companies

PrestiNuova

PrestiNuova was a subsidiary of Banca Nuova but later a sister company. It specialized in

consumer loan Credit (from Latin verb ''credit'', meaning "one believes") is the Trust (social sciences), trust which allows one Party (law), party to provide money or resources to another party wherein the second party does not reimburse the first party im ...

. , the company had a CET1 capital ratio of 10.09%, total assets of €354 million and a net equity of €42 million. The remaining 5% shares of PrestiNuova was acquired from

in 2013, for about €1.9 million.

FarmaNuova

Banca Nuova also owned 30% shares of associate company FarmaNuova in 2009. The company was dedicated to pharmacies. FarmaNuova was absorbed by sister company FarBanca in 2012.

Sponsorship

The bank was a sponsor of basketball team

Pallacanestro Trapani Pallacanestro Trapani, known for sponsorship reasons as 2B Control Trapani, is an Italian professional basketball team that is based in Trapani, Sicily. The club's full name is Club Sportivo Pallacanestro Trapani. The club plays in the second divi ...

, football clubs

U.S. Città di Palermo Palermo Football Club, more simply known as Palermo F.C. or Palermo (; scn, Paliemmu, link=no, ), is an Italian football club based in the Sicilian city of Palermo, conventionally founded for the first time on 1 November 1900. Among the club� ...

and

Trapani Calcio S.S.D. F.C. Trapani 1905, commonly referred to as Trapani, is an Italian football club based in Trapani, Sicily. It currently plays in Serie D, after a year long hiatus following its exclusion from Serie C during the course of the 2020–21 seas ...

(until the 2015–16 season).

References

External links

*
Official website of PrestiNuova
{{authority control Defunct banks of Italy Companies based in Palermo Companies based in Trapani Intesa Sanpaolo acquisitions Former Intesa Sanpaolo subsidiaries Banks established in 1883 1883 establishments in Italy Banks established in 2002 Italian companies established in 2002 Banks disestablished in 2018 2018 disestablishments in Italy Banca Popolare di Vicenza Italian companies established in 1883 Italian companies disestablished in 2018