Intesa Sanpaolo
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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 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 ...
and
Sanpaolo IMI 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. On 24 August 2006 a merger with Banca Intesa was announced, which on 1 December 2006 was ap ...
in 2007, but has a corporate identity stretching back to its first foundation as
Istituto Bancario San Paolo di Torino Istituto Bancario San Paolo di Torino S.p.A., commonly known as just San Paolo, was an Italian bank. It was headquartered in Turin, Piedmont. The bank is the predecessor of Sanpaolo IMI, as well as the current largest bank in Italy in terms of tot ...
in 1583. In 2020 the bank served approximately 14.6 million customers in Italy and 7.2 million customers in Eastern and Central Europe, the Middle East and North Africa through several brands such as
CIB Bank CIB Bank (or Central European International Bank Ltd.) is the second-biggest commercial bank in Hungary, after the 1 January 2008 merger with Inter-Európa Bank. This follows the 2007 merger of their respective Italian parent companies, Banca ...
, VÚB Banka and Bank of Alexandria. By 2010 its assets had grown to US$877.66 billion, ranking 26th in '' Forbes Global 2000''. The company is a component of the Euro Stoxx 50
stock market index In finance, a stock index, or stock market index, is an index that measures a stock market, or a subset of the stock market, that helps investors compare current stock price levels with past prices to calculate market performance. Two of the ...
.


History

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 ...
and
Sanpaolo IMI 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. On 24 August 2006 a merger with Banca Intesa was announced, which on 1 December 2006 was ap ...
, the two banks that merged in 2007 to create Intesa Sanpaolo, were themselves the product of many mergers. Cariplo and
Banco Ambrosiano Veneto Banco Ambrosiano Veneto, also known as Banco Ambroveneto for short, was an Italian bank formed in 1989 by the merger of Nuovo Banco Ambrosiano (the bank replacing the collapsed Banco Ambrosiano) with Banca Cattolica del Veneto. Since 1989, Crédit ...
merged in 1998 to form Banca Intesa. The following year
Banca Commerciale Italiana Banca Commerciale Italiana (COMIT), founded in 1894, was once one of the largest banks in Italy. In 1999 it merged with a banking group consisting of Cassa di Risparmio delle Provincie Lombarde (aka Cariplo; est. 1823) and Banco Ambroveneto, wh ...
joined the group. Sanpaolo IMI was born in 1998 following the merger of Istituto Bancario San Paolo di Torino, which specialized in retail banking, and IMI (Istituto Mobiliare Italiano), an investment bank.


Banca Intesa

The oldest part of the banking group is Cariplo Sp.A. which traces its roots to the Austrian Empire household savings bank
Cassa di Risparmio delle Provincie Lombarde Cassa di Risparmio delle Provincie Lombarde known as Cariplo SpA, was an Italian bank. On 2 January 1998 the bank merged with Banco Ambrosiano Veneto to form Banca Intesa. The company became a short-lived sub-holding company in late 1990s, which w ...
which was established in 1823 in Milan. The ''cassa di risparmio'' was started by an Italian
philanthropic Philanthropy is a form of altruism that consists of "private initiatives, for the public good, focusing on quality of life". Philanthropy contrasts with business initiatives, which are private initiatives for private good, focusing on material ...
group, the Central Committee of Charity; a response by the government to the hard economic times of the early 19th century. In the early 20th century the bank helped Italian companies in the
North North is one of the four compass points or cardinal directions. It is the opposite of south and is perpendicular to east and west. ''North'' is a noun, adjective, or adverb indicating Direction (geometry), direction or geography. Etymology T ...
obtain capital during and after World Wars 1 and 2, chiefly under the guidance of
Giordano Dell'Amore Giordano Dell'Amore (30 November 1902 in Cairo – 6 January 1981 in Milan) was an Italian economist and banker. Biography Dell'Amore was born in Cairo of Italian parents. Returned to his homeland while still boy and completed his studie ...
. Banking reforms in 1990 started by
Giuliano Amato Giuliano Amato (; born 13 May 1938) is an Italian politician who twice served as Prime Minister of Italy, first from 1992 to 1993 and again from 2000 to 2001. Later, he was Vice President of the Convention on the Future of Europe that drafted t ...
(Amato Law; ) led to the restructuring/reorganization of banks by forcing the government to relinquish control of them (the result was a more market-driven bank that focused less on social programs/social causes were abandoned). Cariplo SpA was formed in 1991 when
Cassa di Risparmio delle Provincie Lombarde Cassa di Risparmio delle Provincie Lombarde known as Cariplo SpA, was an Italian bank. On 2 January 1998 the bank merged with Banco Ambrosiano Veneto to form Banca Intesa. The company became a short-lived sub-holding company in late 1990s, which w ...
(sold by Ente Cassa di Risparmio delle Provincie Lombarde ) merged with its subsidiary IBI.
Banco Ambrosiano Veneto Banco Ambrosiano Veneto, also known as Banco Ambroveneto for short, was an Italian bank formed in 1989 by the merger of Nuovo Banco Ambrosiano (the bank replacing the collapsed Banco Ambrosiano) with Banca Cattolica del Veneto. Since 1989, Crédit ...
originated with
Nuovo Banco Ambrosiano The Nuovo Banco Ambrosiano was the bank replacing the Banco Ambrosiano after its collapse. In 1989 the bank merged with the ''Banca Cattolica del Veneto'' (Catholic Bank of Veneto) to form the ''Banco Ambrosiano Veneto''. In 1998 the latter bank f ...
and
Banca Cattolica del Veneto Banca Cattolica del Veneto was an Italian bank based in Vicenza, Veneto. in 1989 it was merged with Nuovo Banco Ambrosiano to form Banco Ambrosiano Veneto. History Founded in 1892 as Banca Cattolica Vicentina by the Catholic church, in 1930 the ...
which merged in 1989. The bank increased in size during the 1990s due to numerous acquisitions (Citibank Italia, Banca Vallone di Galatina and European securities dealer Caboto among others).


Banca Commerciale Italiana

Banca Commerciale Italiana (BCI) started in 1894 as a corporate loans lender operating in the
commercial Commercial may refer to: * a dose of advertising conveyed through media (such as - for example - radio or television) ** Radio advertisement ** Television advertisement * (adjective for:) commerce, a system of voluntary exchange of products and s ...
industry of Northern Italy. In 1994 Mediobanca purchased an interest in BCI (ironically BCI was one of the 3 banks that formed Mediobanca almost 50 years earlier). BCI tried to acquire Banco Ambrosiano Veneto the same year but was spurned by shareholders who wouldn't accept the US$1.13 billion offer. In 1999 Italy's largest bank
Unicredit Group 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 fo ...
at the time, attempted a hostile takeover of BCI but failed due to Mediobanca's interest in the company (Mediobanca wanted to merge Banca di Roma with BCI). BCI merged with the former Banca Ambrosiano and Cariplo in 1998 to form a financial institution renamed Banca Intesa in 2003.


Sanpaolo IMI

Sanpaolo IMI was formed in 1998 when
Istituto Bancario San Paolo di Torino Istituto Bancario San Paolo di Torino S.p.A., commonly known as just San Paolo, was an Italian bank. It was headquartered in Turin, Piedmont. The bank is the predecessor of Sanpaolo IMI, as well as the current largest bank in Italy in terms of tot ...
(founded in 1563) and
Istituto Mobiliare Italiano Banca IMI is a subsidiary of Intesa Sanpaolo which is specialized in investment banking and capital markets. The bank can trace its origins to the Istituto Mobiliare Italiano. IMI merged with Istituto Bancario San Paolo di Torino to form Sanpaolo ...
(IMI) merged, (IMI itself was established in 1931) in a US 37.8 billion dollar deal.


Intesa Sanpaolo

In January 2007, Banca Intesa and Sanpaolo IMI, two of the three largest bank of Italy, officially merged. As part of the authorization of the merger, 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 quasi-autonomous non-governmental organization established on the basis of Law №287 of 10 Oc ...
(AGCM) forbid Intesa Sanpaolo to open any new branches for two years in the provinces of Udine and Gorizia (Friuli – Venezia Giulia region), provinces of Rovigo and Padua (Veneto region), Aosta Valley, provinces of Biella and Alessandria (Piedmont region), Province of Bolzano (South Tyrol),
Province of Bologna The province of Bologna ( it, provincia di Bologna) was a province in the Emilia-Romagna region of Italy. Its provincial capital was the city of Bologna. The province of Bologna covered an area of and had a total population of 1,004,323 inhabitan ...
(Emilia-Romagna region), Province of Pavia (Lombardy region),
Province of Naples The Province of Naples ( it, Provincia di Napoli; nap, Pruvincia 'e Nàpule) was a province in the Campania region of southern Italy. In 2014/2015, the reform of local authorities (Law 142/1990 and Law 56/2014), replaced the Province of Naples ...
(Campania region), Province of Imperia (Liguria region), provinces of Sassari and Cagliari (Sardinia Island),
Province of Rieti The Province of Rieti ( it, Provincia di Rieti) is a province in the Lazio region of Italy. Its capital is the city of Rieti. Established in 1927, it has an area of with a total population of 157,887 people as of 2017. There are 73 ''comuni'' ...
(Lazio region),
province of Terni The Province of Terni ( it, Provincia di Terni) is the smaller of the two provinces in the Umbria region of Italy, comprising one-third of both the area and population of the region. Its capital is the city of Terni. The province came into being ...
(Umbria region),
Province of Pesaro-Urbino The Province of Pesaro and Urbino ( it, Provincia di Pesaro e Urbino, ) is a province in the Marche region of Italy. Its capital is the city of Pesaro. It also borders the state of San Marino. The province is surrounded by San Marino and Emili ...
(Marche region), Province of Pescara (Abruzzo region) and Province of Catanzaro (Calabria region). The French banking group Crédit Agricole started to spin off from Intesa Sanpaolo, by acquiring Cariparma,
FriulAdria Crédit Agricole FriulAdria S.p.A. formerly known as Banca Popolare FriulAdria S.p.A., or known as FriulAdria in short (abb. of Friuli and Adriatic Sea), is an Italian bank, which is part of Crédit Agricole Italia, the Italian arm of French bank ...
in 2007 and
Carispezia Crédit Agricole Carispezia S.p.A. formerly known as Cassa di Risparmio della Spezia S.p.A., or Carispezia in short, is an Italian savings bank, which is part of Crédit Agricole Italia, the Italian arm of French banking group Crédit Agricole. ...
in 2011, as well as branches from Intesa Sanpaolo. In 2012, Crédit Agricole sold all the shares of Intesa Sanpaolo. In December 2007,
Cassa di Risparmio di Biella e Vercelli Cassa di Risparmio di Biella e Vercelli S.p.A. known as BiverBanca, is an Italian saving bank based in Biella, Piedmont. It was acquired by fellow Piedmontese bank Cassa di Risparmio di Asti from Banca Monte dei Paschi di Siena in 2012. BiverBanca ...
was also sold to
Banca Monte dei Paschi di Siena Banca Monte dei Paschi di Siena S.p.A. (), known as BMPS or just MPS, is an Italian bank. Tracing its history to a mount of piety founded in 1472 () and established in its present form in 1624 (), it is the world's oldest or second oldest bank ...
for €399 million. In 2008, Intesa Sanpaolo acquired
Banca CR Firenze Banca Cassa di Risparmio di Firenze S.p.A. known as Banca CR Firenze, was an Italian savings bank. Once a listed company, the group now part of Intesa Sanpaolo since 2007. History Cassa di Risparmio di Firenze (The Saving Bank of Florence) was fou ...
. In December 2008,
Cassa di Risparmio di Fano Cassa di Risparmio di Fano S.p.A. (Carifano) was an Italian saving bank based in Fano, Marche. The bank had 40 branches all in Marche and Umbria. History Cassa di Risparmio di Fano was founded on 14 January 1843 in Fano, the Papal States. Due to L ...
was sold to
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 ...
. In 2009, group acquisitions included a 30% interest in business info company MF Honyvem, and an increased stake in Alitalia – Compagnia Aerea Italiana up to 33.3% Even though the bank was rumoured to have been working with the government to keep
Air France Air France (; formally ''Société Air France, S.A.''), stylised as AIRFRANCE, is the flag carrier of France headquartered in Tremblay-en-France. It is a subsidiary of the Air France–KLM Group and a founding member of the SkyTeam global air ...
from acquiring a stake in Alitalia, Air France eventually acquired 25%. Alitalia – Compagnia Aerea Italiana sold part of its stake in the airline to Etihad Airways in 2015. From 2012 to 2013, Intesa Sanpaolo wrote down the value of the investment in
Banca delle Marche 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 ...
(a minority interest of 5.84% share capital) for a total of €90 million (€18 + 72 million), as well as €26 million for a minority stake in
Cassa di Risparmio della Provincia di Chieti Banca Teatina S.p.A. formerly known as Nuova Cassa di Risparmio di Chieti S.p.A. was an Italian savings bank headquartered in Chieti Scalo, Chieti, Abruzzo region. The bank was formed on 22 November 2015 to replace the old Cassa di Risparmio della ...
in 2014. The shareholders of the banks were bail-in in the rescue plan in 2015. In 2014,
Cassa di Risparmio di Venezia Cassa di Risparmio di Venezia S.p.A. known as Carive or CR Venezia in short, is a former Italian savings bank, based in Venice, Veneto. It was a subsidiary of Intesa Sanpaolo. The former owner of the bank, ''Fondazione di Venezia'', still acts as a ...
and Banca di Credito Sardo were absorbed into Intesa Sanpaolo. The 2014–17 business plan of the bank stated that the banking group would simplify their legal structure. In 2015, local banks
Banca Monte Parma Banca Monte Parma was an Italian regional bank, active in the provinces of Parma, Piacenza and Reggio-Emilia. In mid-2015 it was absorbed into the parent company. History The bank was founded in Parma in 1488 as ''Mons Pietatis Almae Civitatis P ...
,
Banca di Trento e Bolzano Banca may refer to: Places * Bangka Island, an island lying east of Sumatra, part of Indonesia * Banca, Pyrénées-Atlantiques, a commune of the Pyrénées-Atlantiques ''département'', France * Banca, Tasmania, a locality in Tasmania, Australia * ...
,
Cassa di Risparmio di Civitavecchia Cassa di Risparmio di Civitavecchia (Cariciv) was an Italian retail bank based in Civitavecchia, in the Metropolitan City of Rome Capital. In 2015, along with two other Lazio-based subsidiaries: Rieti and Viterbo, were absorbed by parent company Int ...
, Cassa di Risparmio di Rieti and
Cassa di Risparmio della Provincia di Viterbo Cassa di Risparmio della Provincia di Viterbo (Carivit) was an Italian bank and charity organization. The bank sector was acquired by Cariplo in 1990s. In 2015 Intesa Sanpaolo completely absorbed the bank. History Cassa di Risparmio di Viterbo was ...
were absorbed into Intesa Sanpaolo.
Banca dell'Adriatico Banca dell'Adriatico S.p.A. was an Italian regional bank based in Pesaro, Marche. The bank was a subsidiary of Intesa Sanpaolo. History Banca Popolare Pesarese was found in Pesaro, Marche in 1875, at that time a cooperative bank. In 1989 the ba ...
and
Casse di Risparmio dell'Umbria Casse di Risparmio dell'Umbria S.p.A. known as Casse dell'Umbria is an Italian retail bank based in Terni, Umbria. The bank is a subsidiary of Intesa Sanpaolo (via Banca CR Firenze). The headquarter of the bank was next to Fondazione Cassa di Ris ...
were planned to be absorb by Intesa Sanpaolo in mid-2016. A unified website was also used for the remaining retail banks of the group in 2016. In 2016–17, the banking group also sold their non-core businesses, such as the 0.49% ordinary shares of
Visa Europe Visa Inc. (; stylized as ''VISA'') is an American multinational financial services corporation headquartered in San Francisco, California. It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded cred ...
in cash plus share deal; Intesa Sanapolo Card and subsidiary Setefi to Mercury (the parent company of
Istituto Centrale delle Banche Popolari Italiane Nexi S.p.A. formerly known as Istituto Centrale delle Banche Popolari Italiane S.p.A. (ICBPI) is an Italian bank that specialises in payment systems such as Nexi Payments (formerly known as CartaSi). The bank was specialised as a central institu ...
) for €1.035 billion and 4.88% shares of
Bank of Italy The Bank of Italy ( Italian: ''Banca d'Italia'', informally referred to as ''Bankitalia''), (), is the central bank of Italy and part of the European System of Central Banks. It is located in Palazzo Koch, via Nazionale, Rome. The bank's cur ...
to the bank's shareholders Compagnia di San Paolo,
Fondazione Cariplo Fondazione Cariplo is a charitable foundation in Milan, Italy. It was created in December 1991 when the Amato law, Law no. 218 of 30 July 1990, came into force. Under this law, saving banks were required to separate into a not-for-profit fou ...
and the pension funds of the group for €366 million. On 26 June 2017, as part of a government-funded bailout of the depositors (and the bail-in of the investors of the failed banks), Intesa Sanpaolo acquired the good assets 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) and
Veneto Banca Veneto Banca S.p.A. is a former Italian bank headquartered in Montebelluna, Italy and currently a wind-down unit. The bank changed from a cooperative society to a limited company in December 2015. Following a failed stock market listing in June ...
, including some of the subsidiaries such as
Banca Apulia Banca Apulia S.p.A. marketed as BancApulia is an Italian bank incorporated in San Severo, in the Province of Foggia, Apulia region ( it, Puglia). The main office of the bank was located in Bari, in the centre of Apulia region instead. The bank was ...
and
Banca Nuova 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 (BPVi), in turn owned by Atlante, ...
. The branches of BPVi and Veneto Banca would at first became branches of Intesa Sanpaolo, but some of them would be closed down in the near future for efficiency, as Intesa Sanpaolo was also one of the major banks in the Veneto region which the failed banks based. In October 2017, the plan to absorb Banca Nuova into Intesa Sanpaolo was also announced. In December 2017, the plan to absorb
Cassa di Risparmio del Friuli Venezia Giulia Cassa di Risparmio del Friuli Venezia Giulia S.p.A. known as CariFVG in short, was an Italian savings bank based in Gorizia, Friuli – Venezia Giulia region. Predecessors Cassa di Risparmio di Gorizia Cassa di Risparmio di Gorizia was found on 1 ...
was announced. On 6 February 2018, 10 further mergers were announced in the 2018–2021 business plan:
Banco di Napoli Banco di Napoli S.p.A., among the oldest banks in the world, was an Italian banking subsidiary of Intesa Sanpaolo group, as one of the 6 retail brands other than "Intesa Sanpaolo". It was acquired by the Italian banking group Sanpaolo IMI (the p ...
.
Banca CR Firenze Banca Cassa di Risparmio di Firenze S.p.A. known as Banca CR Firenze, was an Italian savings bank. Once a listed company, the group now part of Intesa Sanpaolo since 2007. History Cassa di Risparmio di Firenze (The Saving Bank of Florence) was fou ...
, CR Pistoia e della Lucchesia, CR Veneto,
Carisbo Cassa di Risparmio in Bologna S.p.A. known as Carisbo, was an Italian savings bank based in Bologna, Emilia-Romagna. The bank was part of Intesa Sanpaolo Group since 2007. The former owner of the bank, Fondazione Carisbo, still held 2.023% shares ...
, Cariromagna,
Banca Apulia Banca Apulia S.p.A. marketed as BancApulia is an Italian bank incorporated in San Severo, in the Province of Foggia, Apulia region ( it, Puglia). The main office of the bank was located in Bari, in the centre of Apulia region instead. The bank was ...
,
Banca IMI Banca IMI is a subsidiary of Intesa Sanpaolo which is specialized in investment banking and capital markets. The bank can trace its origins to the Istituto Mobiliare Italiano. IMI merged with Istituto Bancario San Paolo di Torino to form Sanpaolo ...
, Banca Prossima and
Mediocredito Italiano Mediocredito Italiano S.p.A. (MCI) is an Italian commercial bank based in Milan, Lombardy region. History Istituto di credito per il finanziamento a medio termine alle piccole e medie industria della Lombardia or Mediocredito Lombardo in short wa ...
. On 17 February 2020, Carlo Messina unexpectedly announced the launch of a voluntary OPS (public exchange offer) for 4.9 billion euro towards UBI Banca which provided for the delivery of 17 Intesa Sanpaolo shares for every 10 UBI Banca shares newly issued with a premium of 27.6% compared to the stock market listing on Friday 14 February. In addition, on 27 April 2020 Intesa, which has access to three million UBI customers, obtained from the extraordinary shareholders' meeting the approval of a capital increase in support of the takeover bid. The operation is complex as, to prevent possible problems with the Antitrust Authority, it involves other companies. UnipolSai has already reached an agreement to take over the business branches of the insurance companies Banca Assurance Popolari, Lombardia Vita and Aviva Italia, owned by UBI. The Bolognese insurance group supported the share capital increase of 802.26 million euros of BPER Banca, the Emilian bank of which it is the first shareholder with 19.9%. In turn, BPER has already signed a contract with Intesa which provides for the purchase of 532 UBI branches with approximately 1.2 million customers, of which approximately half in Lombardy. In July 2020, the antitrust authority ordered Intesa to sell as many of its own branches, in the event that the public subscription offer does not reach 67% of the shares. The transaction, which obtained the approval of the various Italian and European authorities, led to the delisting of UBI and provides for the merger between the two banks. The sale is scheduled for the end of 2020, with the aim of closing the financial statements in April 2021, presenting a credit institution in seventh place in Europe in terms of size, with a value of assets under management of 1.1 trillion, loans for 460 billion and profits for five. The offer ends on 30 July 2020 with the achievement of 91.0149% of the capital of UBI. Therefore, having exceeded 90% of the share capital, the delisting procedures have begun which have led Intesa Sanpaolo to become the sole shareholder of UBI Banca. Intesa is required to complete the sale of 500 agencies within six months of the completion of the merger. On 5 October 2020 was announced Intesa Sanpaolo's private bank arm has reached an agreement to buy a 69% in Swiss-based bank
REYL & Cie The REYL Group, styled REYL Intesa Sanpaolo, is a financial services company founded in Geneva in 1973 by Dominique REYL. REYL provides financial advisory and investment services to private and institutional clients. REYL specialises in wealth m ...
. In August 2022, ISP completed the 100 percent acquisition of the Luxembourg private bank CBP Quilvest. The transaction is intended to create a second private banking hub to complement the Swiss one.


Major shareholders

Intesa Sanpaolo's shareholders with more than a 3% stake Many shareholders of the group were the former owner (foundation) of the saving banks that were acquired by Intesa and Sanapaolo IMI through shares swap. For example, as of 31 December 2013, Fondazione Carisap (
Ascoli Ascoli may refer to: Places in Italy *Ascoli Satriano, a town and ''comune'' in the province of Foggia in the Apulia region *Province of Ascoli Piceno, a province of the Marche region ** Ascoli Piceno, a city which is the seat of the province above ...
) held 0.3537% shares,
Fondazione Carisbo Fondazione Cassa di Risparmio in Bologna (Fondazione Carisbo) is a philanthropic organization formed in 1991 by the separating of the bank into a private limited company and a banking foundation. The headquarter of the foundation was right opposit ...
(Bologna) held 2.023%, Fondazione Cariparma (
Parma Parma (; egl, Pärma, ) is a city in the northern Italian region of Emilia-Romagna known for its architecture, Giuseppe Verdi, music, art, prosciutto (ham), Parmigiano-Reggiano, cheese and surrounding countryside. With a population of 198,292 ...
, now part of Crédit Agricole Group) held 0.67%, Fondazione Carispezia ( La Spezia, now part of Crédit Agricole Group) held 0.25%, Fondazione di Venezia (
Venice Venice ( ; it, Venezia ; vec, Venesia or ) is a city in northeastern Italy and the capital of the Veneto Regions of Italy, region. It is built on a group of 118 small islands that are separated by canals and linked by over 400  ...
) held 0.33215%.


Corporate Governance

Intesa Sanpaolo has a single-tiered corporate governance system in which the Board of Directors alone are in charge of strategic supervision and control. The latter duty is carried out by the Management Control Committee instead of the Board of Directors itself. The bank adopted this single-tiered system in April 2016, replacing the former two-tiered structure. Previously, the
supervisory board In corporate governance, a governance board also known as council of delegates are chosen by the stockholders of a company to promote their interests through the governance of the company and to hire and fire the board of directors. In civil s ...
exercised control and strategic management functions, whereas the management board oversaw the management of the company's business. The supervisory board was appointed by shareholders in their annual meeting. It supervised the activities carried out by the management board and, in particular, approved the main strategic initiatives proposed by the management board. The management board appointed one of its members to be the CEO.


Board of directors

Members were appointed on 27 April 2016 for the following financial years: 2016, 2017 and 2018.


Financial information

Table with a comparison of Intesa Sanpaolo financial performance over the last years.


Business Units

The group's operations are segmented into 7 parts *Banca dei Territori - By far the largest division is the company's domestic commercial bank in Italy. Subsidiaries include
Mediocredito Italiano Mediocredito Italiano S.p.A. (MCI) is an Italian commercial bank based in Milan, Lombardy region. History Istituto di credito per il finanziamento a medio termine alle piccole e medie industria della Lombardia or Mediocredito Lombardo in short wa ...
, Banca Prossima and Banca 5. *Corporate and Investment Banking - Present in 29 countries this division acts as a "global partner" supporting the development of financial institutions, both nationally and internationally. *International Subsidiary Banks - Present in 10 countries spanning central eastern Europe, the
Middle East The Middle East ( ar, الشرق الأوسط, ISO 233: ) is a geopolitical region commonly encompassing Arabian Peninsula, Arabia (including the Arabian Peninsula and Bahrain), Anatolia, Asia Minor (Asian part of Turkey except Hatay Pro ...
, and
North Africa North Africa, or Northern Africa is a region encompassing the northern portion of the African continent. There is no singularly accepted scope for the region, and it is sometimes defined as stretching from the Atlantic shores of Mauritania in ...
. *Insurance Division includes subsidiaries Fideuram Vita, Intesa Sanpaolo Assicura and Intesa Sanpaolo Vita *Capital Light Banks includes Intesa Sanpaolo Re.O.CO. *
Eurizon Capital Eurizon Capital (also known as Eurizon and Eurizon Asset Management) is an asset management firm headquartered in Milan. It is the asset management division of Intesa Sanpaolo, Italy's largest banking group. It is considered to be one of the lar ...
- Italy's largest asset manager that invests in such things as bonds (including government), publicly traded companies and also engages in short term borrowing and lending. *Private Bank Division - includes Intesa Sanpaolo Private Banking, Sirefid, Intesa Sanpaolo Private Banking Suisse and Banca Fideuram that offers financial advice services. It was created in 1968 as a subsidiary of IMI (later merged with Sanpaolo and then Banca Intesa to form the current company) with the purpose of managing IMI's Luxembourg mutual fund business. In 1992 it was merged with another subsidiary Manusardi, which is when it officially became Banca Fideuram. In 1997 it entered the private banking industry, 2000 it became a broker after acquiring French Company Groupe Wargny (was established in 1806, some of the Wargny business was sold in 2007) then in 2004 its parent company IMI took over its life insurance business. Its association with US company Frank Russell group gave it a foothold in the personal financial planning market.


Subsidiaries

In addition to its strong presence in Italy, Intesa Sanpaolo has branches and representative offices around the world. The Group also directly controls many foreign banks especially in
Central and Eastern Europe Central and Eastern Europe is a term encompassing the countries in the Baltics, Central Europe, Eastern Europe and Southeast Europe (mostly the Balkans), usually meaning former communist states from the Eastern Bloc and Warsaw Pact in Europe. ...
, with around 1,600 branches and about 8.3 million clients operating in retail and commercial banking.


Photo gallery

File:Lato piazza San Carlo Torino.JPG, Intesa Sanpaolo former headquarters in piazza San Carlo, Turin File:Palazzo delle colonne, esterno 22.jpg, Intesa Sanpaolo building Palazzo delle Colonne, Milan File:Palazzo delle colonne, interno 01.jpg File:Palazzo delle colonne, interno 06.jpg File:Palazzo delle colonne, interno 15.jpg File:Palazzo delle colonne, interno 19.jpg


See also

*
Inter-Alpha Group of Banks The Inter-Alpha Group of Banks was created in 1971 by six banks in the European Community to provide a platform for the regular exchange of ideas and to explore areas for cooperation between its member banks. The group is a non-hierarchical associat ...


References


External links

*
Information about the Intesa Sanpaolo (in English)
{{Authority control Banks of Italy Financial services companies of Italy Insurance companies of Italy Banks under direct supervision of the European Central Bank Companies based in Turin Financial services companies established in 2007 Banks established in 2007 Italian companies established in 2007 Companies in the Euro Stoxx 50 Italian brands