Banca Etruria
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Formerly called
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Nuova Banca dell'Etruria e del Lazio |
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| subsidiary of a listed company | |
| Industry | Financial services |
| Predecessor |
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| Founded |
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| Headquarters |
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Key people
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| Services | Retail and corporate banking |
| (€267 million) (2016) | |
| Total assets |
 €6.569 billion (2016) |
| Total equity |
€175 million (2016) |
| Owner | UBI Banca (100%) |
| Parent | UBI Banca |
| Subsidiaries | Banca Federico del Vecchio |
| Capital ratio |
4.4% (Group CET1, Dec.2016) |
| Website | bancaetruria.it |
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Footnotes / references in consolidated financial statement |
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Banca Tirrenica S.p.A. formerly known as Nuova Banca dell'Etruria e del Lazio S.p.A. is an Italian bank based in Arezzo, Tuscany. The bank was re-established on 22 November 2015 as a good bank of the original Banca Popolare dell'Etruria e del Lazio (BPEL). The bank was bought by UBI Banca on 18 January 2017 for a nominal fee.
Both Tyrrhenian and Etruria were alternative name to the area that located in Central Western Italy.
Banca Mutua Popolare Aretina was found on 16 April 1881 in Arezzo. On 18 December 1971 the bank absorbed two fellow Tuscan "People's Bank": Banca Popolare Senese (found 1865 in Siena) and Banca Popolare della Provincia di Livorno, as well as renamed into Banca Popolare dell'Etruria.
In 1972 Banca Popolare di Montepulciano was absorbed, followed by Banca Popolare di Pontevalleceppi (a Perugia frazione) in 1982, Banca Popolare di Cagli in 1985 and Banca Popolare di Gualdo Tadino in 1987.
On 31 December 1988 Banca Popolare dell'Alto Lazio (found 1974) was merged into the bank, forming Banca Popolare dell'Etruria e del Lazio. In 1990 Banca Cooperativa di Capraia Montelupo e Vitolini was absorbed. In 2001 the bank was listed in Borsa Italiana (code: PEL).
In 2006 the bank acquired a majority interests in Banca Federico Del Vecchio, reaching 100% in 2008. In 2008 Banca Popolare Lecchese joined the banking group (sold in 2015). In mid-2014 the bank was changed from a co-operative partnership (Italian: Società Cooperativa) to a company limited by shares (Italian: Società per Azioni).
The bank was administrated by the Ministry of Economy and Finance in early 2015. The last annual report of the old bank shown the bank had a shareholders equity of €632.060 million, and Tier 1 capital ratio of just 6.6% as at 31 December 2013 (Basel II basis). The ratio fell to just 6.1% as at 30 June 2014 on Basel III basis. (which Basel III required above 6%, as well as Banca d'Italia required above 7%)
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