Credito Siciliano was an

Italian Italian(s) may refer to: * Anything of, from, or related to the people of Italy over the centuries ** Italians, an ethnic group or simply a citizen of the Italian Republic or Italian Kingdom ** Italian language, a Romance language *** Regional Ita ...

bank headquartered in

Acireale Acireale (; scn, Jaciriali, locally shortened to ''Jaci'' or ''Aci'') is a coastal city and ''comune'' in the north-east of the Metropolitan City of Catania, Sicily, southern Italy, at the foot of Mount Etna, on the coast facing the Ionian Sea. ...

Sicily (man) it, Siciliana (woman) , population_note = , population_blank1_title = , population_blank1 = , demographics_type1 = Ethnicity , demographics1_footnotes = , demographi ...

and previously

Palermo Palermo ( , ; scn, Palermu , locally also or ) is a city in southern Italy, the capital (political), capital of both the autonomous area, autonomous region of Sicily and the Metropolitan City of Palermo, the city's surrounding metropolitan ...

. It was a subsidiary of

Credito Valtellinese Credito Valtellinese (Creval) is an Italian bank based in Sondrio, Lombardy, Italy. The company was a former component of FTSE Italia Mid Cap Index of the Borsa Italiana (Milan Stock Exchange), but was removed and added as a component of Index in ...

until its merger by incorporation into Credito Valtellinese in June 2018. The bank had 136 branches, 133 located in Sicily (Province of

Agrigento Agrigento (; scn, Girgenti or ; grc, Ἀκράγας, translit=Akrágas; la, Agrigentum or ; ar, كركنت, Kirkant, or ''Jirjant'') is a city on the southern coast of Sicily, Italy and capital of the province of Agrigento. It was one of ...

: 4; Province of

Caltanissetta Caltanissetta (; scn, Nissa or ) is a ''comune'' in the central interior of Sicily, Italy, and the capital of the Province of Caltanissetta. Its inhabitants are called ''Nisseni''. In 2017, the city had a population of 62,797. It is the 14th ...

: 7; Province of

Catania Catania (, , Sicilian and ) is the second largest municipality in Sicily, after Palermo. Despite its reputation as the second city of the island, Catania is the largest Sicilian conurbation, among the largest in Italy, as evidenced also by ...

: 51; Province of

Enna Enna ( or ; grc, Ἔννα; la, Henna, less frequently ), known from the Middle Ages until 1926 as Castrogiovanni ( scn, Castrugiuvanni ), is a city and located roughly at the center of Sicily, southern Italy, in the province of Enna, towering ...

: 2; Province of

Messina Messina (, also , ) is a harbour city and the capital of the Italian Metropolitan City of Messina. It is the third largest city on the island of Sicily, and the 13th largest city in Italy, with a population of more than 219,000 inhabitants in ...

: 18; Province of Palermo: 26; Province of

Ragusa Ragusa is the historical name of Dubrovnik. It may also refer to: Places Croatia * the Republic of Ragusa (or Republic of Dubrovnik), the maritime city-state of Ragusa * Cavtat (historically ' in Italian), a town in Dubrovnik-Neretva County, Cro ...

: 9; Province of Siracusa: 6 and Province of

Trapani Trapani ( , ; scn, Tràpani ; lat, Drepanum; grc, Δρέπανον) is a city and municipality (''comune'') on the west coast of Sicily, in Italy. It is the capital of the Province of Trapani. Founded by Elymians, the city is still an imp ...

: 10), plus 3 more in mainland Italy (

Milan Milan ( , , Lombard: ; it, Milano ) is a city in northern Italy, capital of Lombardy, and the second-most populous city proper in Italy after Rome. The city proper has a population of about 1.4 million, while its metropolitan city h ...

Rome , established_title = Founded , established_date = 753 BC , founder = King Romulus (legendary) , image_map = Map of comune of Rome (metropolitan city of Capital Rome, region Lazio, Italy).svg , map_caption ...

Turin Turin ( , Piedmontese language, Piedmontese: ; it, Torino ) is a city and an important business and cultural centre in Northern Italy. It is the capital city of Piedmont and of the Metropolitan City of Turin, and was the first Italian capital ...

Predecessors

Banca del Monte Sant'Agata

Three separate

mounts of piety Mount is often used as part of the name of specific mountains, e.g. Mount Everest. Mount or Mounts may also refer to: Places * Mount, Cornwall, a village in Warleggan parish, England * Mount, Perranzabuloe, a hamlet in Perranzabuloe parish, C ...

( it, monti di pietà) were founded in Catania, at that time part of the

Kingdom of Sicily The Kingdom of Sicily ( la, Regnum Siciliae; it, Regno di Sicilia; scn, Regnu di Sicilia) was a state that existed in the south of the Italian Peninsula and for a time the region of Ifriqiya from its founding by Roger II of Sicily in 1130 un ...

. Monte Grande di Pietà di Sant'Agata, the second mount of the city that named after St.

Agatha of Sicily Agatha of Sicily () is a Christian saint. Her feast is on 5 February. Agatha was born in Catania, part of the Roman Province of Sicily, and was martyred . She is one of several virgin martyrs who are commemorated by name in the Canon of the ...

, was founded on 17 December 1809. The mount survived until the modern age of Italy, which was last known as Monte di Credito su Pegno – Banca del Monte Sant'Agata di Catania, a credit institution that was governor by , the Italian banking law. The institute was in special administration ( it, A.S.) from 1992. The institute was also under a.s. in 1981. In 1994, a

company limited by shares A private company limited by shares is a class of private limited company incorporated under the laws of English law, England and Wales, Northern Irish law, Northern Ireland, Scots law, Scotland, certain Commonwealth of Nations, Commonwealth c ...

, was incorporated by the administrator as Nuova Banca del Monte Sant'Agata S.p.A., acquiring the assets and liabilities of the institute; the old institute was being liquidated ( it, L.C.A.). The new legal person was later acquired by 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 ...

Banca Regionale Sant'Angelo

Banca Regionale Sant'Angelo was an Italian bank based on 1/E via Siracusa, Palermo, Sicily. The bank was formed by

injected part of the bank assets to Nuova Banca del Monte Sant'Agata S.p.A. on 1 January 2001, as well as sold the company to Credito Artigiano (part of

group) in mid-2001, by the subscription of the capital increase of Banca Regionale Sant'Angelo, by Credito Artigiano. The shares of Banca Regionale Sant'Angelo was also distributed to the shareholders of Banca Popolare Sant'Angelo, making Credito Artigiano launched a public acquisition offer ( it, OPA) to buy the remaining 55% shares of the Banca Regionale in 2001. In 2002, Banca Regionale Sant'Angelo absorbed other subsidiaries of Credito Valtellinese to form Credito Siciliano. The former headquarters of Banca Monte Sant'Agata on via Sant'Euplio, Catania, was sold to a company. The site was refurbished as a hotel.

Leasingroup Sicilia

Leasingroup Sicilia was a finance leasing company based in Sicily. Banca Popolare Sant'Angelo increased it stake in the company in 1990s, but spin off to inject the stake to Banca Regionale Sant'Angelo circa 2001. As at 31 December 2001, Banca Popolare di Lodi also owned 5.12% stake .

History

Credito Siciliano was formed on 1 July 2002 by the merger of Banca Popolare Santa Venera (a subsidiary of Credito Valtellinese), Banca Regionale Sant'Angelo (a subsidiary of Credito Artigiano), Leasingroup Sicilia (a subsidiary of Banca Regionale Sant'Angelo, with BP Santa Venera had a minority interests) and the retail division of Cassa San Giacomo (a subsidiary of Credito Valtellinese). The new bank was owned by

for 39.43% shares, as well as through its subsidiary Credito Artigiano for an additional 35.79% shares at that time. In 2008, the bank recorded a profit of 12.4 million euros. In May 2018, the merger by incorporation of Credito Siciliano into Creval was approved, with the exchange ratio set at 78.35 new Creval shares. On 25 June 2018, the merger by incorporation into Credito Valtellinese became effective.

Predecessors

Banca del Monte Sant'Agata

Banca Regionale Sant'Angelo

Leasingroup Sicilia

History

References

See also