BPER Banca

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BPER Banca
Formerly called
  • Banca Popolare dell'Emilia
  • Banca Popolare dell'Emilia Romagna
Società per Azioni
Traded as BITBPE
FTSE MIB Component
ISIN IT0000066123
Industry Financial services
Predecessor
Founded
  • 1867 (BP Modena)
  • 29 December 1983 (1983-12-29) (BP Emilia)
  • 1 May 1992 (1992-05-01) (BPER)
Headquarters Modena, Italy
Area served
18 out of 20 regions of Italy
Key people
Services Retail and corporate banking, insurance
Increase €220.661 million (2015)
Total assets Increase €61.261 billion (2015)
Total equity Increase €5.025 billion (2015)
Subsidiaries
Capital ratio 11.24% (CET1)
Website bper.it
Footnotes / references
in consolidated financial statement[1]

BPER Banca S.p.A. formerly known as Banca Popolare dell'Emilia Romagna S.C. is an Italian banking group offering traditional banking services to individuals, corporate and public entities.[2] The company is based in Modena and is a constituent of the FTSE MIB index.

The bank had branches in most of Italy, except in Aosta Valley and Friuli – Venezia Giulia.[3] The bank is a majority shareholder of Piedmontese bank Cassa di Risparmio di Bra and Saluzzo, as well as minority shareholders of Fossano and Savigliano.

History

Banca Popolare dell'Emilia was formed by the merger of Banca Popolare di Modena (found 1867) with Banca Cooperativa di Bologna on 29 December 1983. The bank merged with Banca Popolare di Cesena to form Banca Popolare dell'Emilia Romagna on 1 May 1992.[4] The bank acquired and absorbed many provincial and regional level Popular Bank (Italian: Banca Popolare) and Saving Bank (Italian: Cassa di Risparmio) in 1990s to 2010s.

2000s

2010s

In February 2013, BPER acquired an additional 35.98% stake of CR Bra S.p.A. from the banking foundation of CR Bra for around €23.9 million. After the deal BPER owned 67% stake.[8]

The bank was affected by Decree-Law N°3 of 2015, which required banks with assets more than €8 billion to transform from Cooperative society (S.C.) to Società per Azioni. (from one person one vote to one share one vote)

In 2016 the controlling stake in Cassa di Risparmio di Saluzzo was acquired from the banking foundation of CR Saluzzo. On 14 July 2016 a gross value of €450 million bad loans (the most doubtful non-performing loan) were sold to Algebris NPL Fund and Cerberus European Investments without recourse.[9] Italian banks had the highest gross NPLs to total loan ratio in European Union (18% at 31 December 2015);[10] BPER Group's gross NPLs to total loan ratio was 23.28% at 31 December 2015, or €11.395 billion in size in gross; Banco di Sardegna along had €2 billion as well as highest ratio among the group.

In late 2016 the bank was re-incorporated as BPER Banca S.p.A., as part of the mandatory process, the bank offered to buy back the shares for €3.8070, based on historical price of the bank.[11] However, no share was repurchased,[12] as well as the market value of the bank in the Borsa was bumped back to above that price.

On 2 March 2017 BPER Banca signed a contract to acquire Nuova Cassa di Risparmio di Ferrara for a nominal fee of €1. On 30 June the deal was completed.[13]

Former subsidiaries

source[14]

Equity interests

Shareholders

Due to issuing new shares in the acquisitions of some banks, some banking foundations were the shareholders of the bank, namely Fondazione Banco di Sardegna (2.076%), Fondazione Carispaq (0.58%),[15] Fondazione Monte Foggia (0.06%),[16] Fondazione di Vignola (0.00%).[17]

Norges Bank also owned about 2.062% shares.

See also

References

  1. ^ "2015 Bilancio consolidato" (PDF) (in Italian). Banca Popolare dell'Emilia Romagna. 24 March 2016. Retrieved 9 April 2016. 
  2. ^ "Banca Popolare - Business Profile". Financial Times. Retrieved 24 November 2013. 
  3. ^ http://www.gruppobper.it/wps/gruppo/banca/bper_istzgruppo_content/sitoit/homepage/ilgruppo/presenzasulterritorio/
  4. ^ "STATUTO SOCIALE (2015)" [Articles of association (2015)] (PDF) (in Italian). Banca Popolare dell'Emilia Romagna. 18 April 2015. Retrieved 10 April 2016. 
  5. ^ "2005 Bilancio Consuntivo" (PDF). Fondazione di Vignola (in Italian). Associazione di Fondazioni e di Casse di Risparmio S.p.A. (ACRI) archive. 16 November 2006. Retrieved 16 February 2016. 
  6. ^ "2005 Bilancio Individuale" (PDF). BPER (in Italian). Borsa Italiana archive. 18 May 2006. 
  7. ^ "2006 Bilancio Individuale" (PDF) (in Italian). BPER. 10 November 2007. Retrieved 16 February 2016. 
  8. ^ "BPER acquista controllo di Cassa di Risparmio di Bra" (in Italian). BPER. 7 February 2013. Retrieved 16 February 2016. 
  9. ^ "BPER Group: sale without recourse of a bad loan portfolio for a gross of € 450 million". BPER. 14 July 2016. Retrieved 21 July 2016. 
  10. ^ "Rapporto sulla stabilità finanziaria N°1 - 2016" [Financial Stability Report N°1 - 2016] (PDF) (in Italian). Banca d'Italia. 29 April 2016. Retrieved 1 May 2016. 
  11. ^ "Amount paid for BPER shares subject to withdrawal". BPER Banca. 19 October 2016. Retrieved 19 January 2017. 
  12. ^ "No request of withdrawal in relation to the transformation into a joint-stock company". BPER Banca. 3 January 2017. Retrieved 19 January 2017. 
  13. ^ "BPER Banca completes the acquisition of Nuova Carife" (Press release). BPER Banca. 30 June 2017. Retrieved 7 July 2017. 
  14. ^ storia
  15. ^ "2014 Bilancio Consuntivo" (in Italian). Fondazione Cassa di Risparmio della Provincia dell'Aquila (Fondazione Carispaq). 23 April 2015. Retrieved 9 March 2016. 
  16. ^ "2014 Bilancio d'esercizio" (in Italian). Fondazione Banca del Monte di Foggia. 13 May 2015. Retrieved 4 February 2016. 
  17. ^ "2014 Bilancio Consuntivo" (PDF) (in Italian). Fondazione di Vignola. 11 March 2016. Retrieved 14 April 2016. 

External links

  • Official website
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