Credito Emiliano S.p.A. (Credem) is an Italian bank based in Reggio Emilia, Emilia-Romagna. The company is a component of

FTSE Italia Mid Cap The FTSE Italia Mid Cap is a stock market index for the Borsa Italiana, the main stock exchange of Italy. It is one of the indices in the FTSE Italia Index Series. Components The index consists of listings See also * FTSE MIB The F ...

Index . According to a research by

Mediobanca Mediobanca is an Italian investment bank founded in 1946 at the initiative of Raffaele Mattioli (at that time CEO of Banca Commerciale Italiana, the largest commercial bank in Italy which promoted its incorporation together with Credito Italiano) ...

, Credito Emiliano was ranked the 11th largest bank in Italy by total assets as of 31 December 2015, despite several banking group were omitted in the research. If omitting central banks,

postal savings Postal savings systems provide depositors who do not have access to banks a safe and convenient method to save money. Many nations have operated banking systems involving post offices to promote saving money among the poor. History In 1861, ...

and subsidiaries of foreign banking groups, the bank was ranked 10th, (9th among retail and commercial conglomerates if omitting investment banks and insurance-bank conglomerates of Italy such as Banca Mediolanum and Mediobanca). Due to its size, the bank was supervised by

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 most important centra ...

directly, as part of the

Single Supervisory Mechanism The Single Supervisory Mechanism (SSM) is the first pillar of the European banking union and is the legislative and institutional framework that grants the European Central Bank (ECB) a leading supervisory role over banks in the European Union ...

(as 1 of the 14 Italian banking groups). The company also had several internal divisions: Credem Banca (retail banking), Credem Banca d'Impresa (corporate banking) and Credem Private Banking.

History

Founded in 1910 as Banca Agricola Commerciale di Reggio Emilia, the bank changed its name to Credito Emiliano in 1983. At that time the bank also acquired Banca Belinzaghi of Milan, starting its expansion. In 1991 Istituto Bancario Siciliano was acquired, followed by Banca di Girgenti and Banca Industriale Agricola di Radicena. The Group acquired Banca Popolare Vittorio Emanuele di Paternò, Banca Euromobiliare, BCC Corleone, Banca Creditwest e dei Comuni Vesuviani, Banca Tamborino Sangiovanni, Banca Popolare San Marco Argentano, BCC Ciminna, BCC Bonifati, BCC Curinga, Banca dei Comuni Nolani, 3 branches of

Deutsche Bank Deutsche Bank AG (), sometimes referred to simply as Deutsche, is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York St ...

in Catania, BCC San Giovanni Gemini, Banca della Provincia di Napoli from 1994 to 1998. In 1999, the bank was ranked 8th in terms of branches on Sicily island. From 1999 to 2008 Banca Popolare Dauna, BCC Fortore-Miscano, BCC San Fili, BCC Jonica, BCC Alto Crotonese, Banca Popolare Andriese, Banca dei Laghi, Banca di Latina, Euromobiliare Corporate Finance, Credimmobili and Anteprima were acquired.

Shareholders

On 1 January 1993 Credito Emiliano Holding was formed as the holding company for the bank. Currently owned 75.57% stake, with the rest were floated in

Borsa Italiana Borsa Italiana, based in Milan, is the Italian stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and intermediaries and supervising disclosures for listed companies.italy24.i ...

. The largest shareholders of Credem Holding were Cofimar S.r.l. and Max Mara Finance S.r.l., which in turn owned 29.44% and 8.30% stake of the bank respectively.

Subsidiaries and joint venture

;bank * Banca Euromobiliare ;specialized bank * Credemleasing * Credemfactor * Credem Private Equity SGR * Euromobiliare Fiduciaria * Euromobiliare Asset Management SGR ;insurance companies * Credemvita * Credemassicurazioni (50-50 joint venture with Reale Mutua Assicurazioni)

References

{{Authority control Banks of Italy Banks established in 1910 Companies based in Reggio Emilia Italian companies established in 1910 Banks under direct supervision of the European Central Bank