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Veneto Banca

Veneto Banca
Formerly called
  • Banca Popolare di Montebelluna
  • Banca Popolare di Asolo e Montebelluna
unlisted public Società per Azioni
Industry Financial services
Founded 1877
Headquarters Montebelluna, Italy
Number of locations
Decrease 550 branches (2015)
Key people
Massimo Lanza (Chairman)
Cristiano Carrus (CEO)
Services Retail and corporate banking
Decrease (€01.502 billion) (2016)
Total assets Decrease €28.078 billion (2016)
Total equity Decrease01.743 billion (2016)
Owner Atlante (97.64%)
Number of employees
5,703 (2015 average)
Parent Atlante
Subsidiaries
Banca Intermobiliare (71.413%)
Banca Apulia (70.414%)
Capital ratio Decrease 6.39% (Group CET1, Dec.2016)
Rating Moody's
Website
Footnotes / references
in consolidated financial statements

Veneto Banca S.p.A. is an Italian bank headquartered in Montebelluna, Italy. The bank changed from cooperative society to limited company in December 2015. Following a failed stock market listing in June 2016 it was taken over by the bail-out fund, Atlante.

According to a research by Ricerche e Studi, the bank was ranked 16th by total assets, using 2014 data. The banks was one of the fourteen largest banks of Italy, which were supervised by European Central Bank directly.

Established in 1877 as Banca Popolare di Montebelluna, in the 1960s the bank started its expansion acquiring some local cooperative banks and savings banks, such as Banca Popolare di Intra. An intense development stage starts in 2000, with the expansion in North-West and Southern Italy and the acquiring of banks in Eastern Europe.

In 2001–2002 Veneto Banca acquired 29 branches of Nuova Banca Mediterranea from Banca di Roma, which were immediately injected to Banca Meridiana (ex-Banca Popolare del Levante). Banca Meridiana was merged with Banca Apulia, another subsidiary of Veneto Banca in 2010.

The banks was one of the fourteen largest banks of Italy, which were supervised by European Central Bank directly. The bank passed the stress test by recapitalization in 2014.

Due to Decree-Law N°3/2015, the bank changed from a cooperative limited partnership (Italian: Società cooperativa per Azioni) to Società per Azioni (company limited by shares) in December 2015, affecting the calculation of voting rights (every shareholders had one vote regardless how many shares he had in cooperative society). The Decree-Law required People's Bank with more than €8 billion total assets, had to registered as limited company instead. Veneto also bought back €14,725,910.40 shares (€7.3 per share) as part of the demutualization.


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