Sanpaolo IMI S.p.A. was an Italian banking and insurance conglomerate, based in

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 ...

. It employed about 44,000 people and had about 7 million customers. On 24 August 2006 a

merger Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect ...

with Banca Intesa was announced, which on 1 December 2006 was approved by the joint meetings of the shareholders of Banca Intesa and Sanpaolo IMI. On 2 January 2007 the merger went into effect, thereby creating Intesa Sanpaolo, now the largest Italian bank and one of the largest in the

Eurozone The euro area, commonly called eurozone (EZ), is a currency union of 19 member states of the European Union (EU) that have adopted the euro (€) as their primary currency and sole legal tender, and have thus fully implemented EMU policies ...

. The new banking company based in Turin and is administered under the "two-tier model", with the presence of a Supervisory Board and a Board of Management. This was the first application of this model in a major Italian company.

History

Sanpaolo IMI was formed by many merger of banks, which in 1998

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 ...

merged with Istituto Mobiliare Italiano. In 2002, the group absorbed

Cardine Banca Cardine Banca S.p.A. was an Italian banking group found in 2000 by the merger of Casse Emiliano Romagnole and Casse Venete Banca. On 1 June 2002 the group was acquired by Sanpaolo IMI in an all shares deal. In 2000 Banca Agricola di Gorizia was ...

, a short lived holding company that consist of

Cassa di Risparmio in Bologna 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 ...

Cassa di Risparmio di Padova e Rovigo Cassa di Risparmio del Veneto S.p.A., known as CR Veneto, was an Italian savings bank, headquartered in Padua, Veneto ( it, Padova). It was a subsidiary of Intesa Sanpaolo. History The bank was one of the oldest savings bank of Italy, which in 18 ...

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 ...

Cassa di Risparmio di Udine e Pordenone 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 ...

Cassa di Risparmio di Gorizia 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 ...

and Banca Popolare dell'Adriatico.

Activities

Sanpaolo IMI had about 3,200 local offices where private, business and retail banking activities take place. It also managed savings and retirement funds.

Management

The last honorary president was Luigi Arcuti. The last president was

Enrico Salza Enrico is both an Italian masculine given name and a surname, Enrico means homeowner, or king, derived from ''Heinrich'' of Germanic origin. It is also a given name in Ladino. Equivalents in other languages are Henry (English), Henri ( French), Enr ...

, the last managing director was

Alfonso Iozzo Alphons (Latinized ''Alphonsus'', ''Adelphonsus'', or ''Adefonsus'') is a male given name recorded from the 8th century (Alfonso I of Asturias, r. 739–757) in the Christian successor states of the Visigothic kingdom in the Iberian peninsula. ...

, the last general manager was

Pietro Modiano Pietro is an Italian masculine given name. Notable people with the name include: People * Pietro I Candiano (c. 842–887), briefly the 16th Doge of Venice * Pietro Tribuno (died 912), 17th Doge of Venice, from 887 to his death * Pietro II Can ...

Subsidiaries

Before the merger the following banks were the subsidiaries of the group: *

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 bank ...

Cassa di Risparmio del Veneto Cassa di Risparmio del Veneto S.p.A., known as CR Veneto, was an Italian savings bank, headquartered in Padua, Veneto ( it, Padova). It was a subsidiary of Intesa Sanpaolo. History The bank was one of the oldest savings bank of Italy, which in 18 ...

Cassa dei Risparmi di Forlì e della Romagna Cassa dei Risparmi di Forlì e della Romagna S.p.A., known as Cariromagna, was an Italian savings bank based in Forlì, Emilia-Romagna region. Despite the bank having become branches of Intesa Sanpaolo in 2018, the former parent company of the bank ...

Neos Finance Neos Finance was an Italian bank specialized in consumer credit. Before its closure, it was part of Intesa Sanpaolo Group. History Neos Finance started as Finemiro SpA (Fin-Emi-Ro). In 1997 the parent company, Cassa di Risparmio in Bologna of Bank ...

* Banco di Napoli * Banca IMI * Friulcassa

Ownership

*Total shares: 1,875,087,936 **Total ordinary shares: 1,590,903,918 **Total preferred shares:284,184,018 *par value: €2.88 each. Before the merger, on 31 December 2006 the shareholders were (ordinary and preference shares): # Compagnia di San Paolo 14.19% #

Fondazione Cariparo Fondazione Cassa di Risparmio di Padova e Rovigo (in short Cariparo) is an italian philanthropic organization formed in 1991. It was formed by separating the Cassa di Risparmio di Padova e Rovigo into two separate entities: a limited company that o ...

7.02% #

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 ...

5.54% # Giovanni Agnelli e C. 4.96% # Banco Santander 3.63% # Carlo Tassara 2.51% #

Assicurazioni Generali Assicurazioni Generali S.p.A. ( , ; meaning 'general insurances') or simply Generali Group is an Italian insurance company based in Trieste. As of 2019, it is the largest of its kind in Italy and among the top ten largest insurance companies in ...

2.47% ---- :ownership ratio below 2% was not required to disclose ownership to CONSOB, based on other sources, know institution owner were : * Fondazione di Venezia 1.47% *

Ente Cassa di Risparmio di Firenze Ente Cassa di Risparmio di Firenze is a foundation originated from Cassa di Risparmio di Firenze. The foundation was the minority shareholders of Banca CR Firenze S.p.A. (until 2015) as well as the 5th largest shareholders of Intesa Sanpaolo, for 2. ...

1.11% * Fondazione Monte dei Paschi di Siena 0.84%

References

External links

Sanpaolo ItalySanpaolo IMI Bank Romania
Defunct banks of Italy Italian companies established in 1998 Banks established in 1998 2007 disestablishments in Italy Banks disestablished in 2007 History of Intesa Sanpaolo Companies formerly listed on the Borsa Italiana Banco Santander {{Italy-bank-stub