Banche Popolari Unite
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Native name
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Unione di Banche Italiane S.p.A. |
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| listed Società per Azioni | |
| Traded as | BIT: UBI |
| ISIN | IT0003487029 |
| Industry | Financial services |
| Founded |
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| Headquarters |
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Number of locations
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1,531 branches in Italy, six abroad (2016) |
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Key people
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| Products | Retail banking, asset management, financial leasing, factoring |
| Profit |
 €116.765 million (2015) |
| Total assets |
 €117.200 billion (2015) |
| Total equity |
€9.982 billion (2015) |
| Owner |
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Number of employees
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17,511 (2016) |
| Capital ratio | 12.08% (CET1) |
| Rating | Moody's |
| Website | Official website (in Italian & English) |
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Footnotes / references data in consolidated basis |
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Unione di Banche Italiane, branded as UBI Banca, is an Italian banking Group, the fifth largest in Italy by number of branches, It was formed on 1 April 2007 from the merger of the Banche Popolari Unite (BPU) and Banca Lombarda e Piemontese banking groups.
UBI Banca shares are listed on the Borsa Italiana and are included in the FTSE MIB index (the blue chip index).
BPU Banca was formed by the merger of Banca Popolare di Bergamo – Credito Varesino Group with Banca Popolare Commercio e Industria Group. Their subsidiaries at that time were Banca Popolare di Ancona, Cassa di Risparmio di Fano (Carifano), Banca Popolare di Luino e di Varese and Banca Carime. Although the two groups merged, Banca Popolare di Bergamo and Banca Popolare Commercio e Industria were re-incorporated as a subsidiary in the form of Società per Azioni.
Carifano was sold back to the minority shareholders of Banca Popolare di Ancona in 2005.
The UBI Banca Group was formed on 1 April 2007 from the merger of the BPU Banca Group and the Banca Lombarda Group. The Group operates mainly on the retail market and is present in most regions of Italy, although its focus is primarily on northern Italy. The parent company has its headquarters in Bergamo.
On 20 January 2015 the Council of Ministers issued a decree-law which requires People's banks (Italian: Banca Popolari) with assets of greater than €8 billion to demutualize into Società per Azioni. The decree, published on 24 January, was then converted into law with Law No. 33 of 24 March 2015. UBI Banca is one of the banks to which the new legislation applies. On 10 October 2015, the General Meeting of the Registered Shareholders that met first in extraordinary session in Brescia approved the proposal for transformation of UBI Banca into a S.p.A. The resolution was passed in the presence of 5,032 Registered Shareholders (of which approx. 2,500 physically present), representing 20.91% of the share capital; there were 4,975 votes in favour, representing 20.88% of the share capital or 98.87% of votes cast, 26 votes against and 31 abstentions. Starting from 12 October 2015, when the transformation resolution was filed with the Bergamo Company Registrar, UBI Banca is S.p.A.
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