Formerly called
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unlisted public Società per Azioni | |||||
Industry | Financial services | ||||
Founded | 1877 | ||||
Headquarters | Montebelluna, Italy | ||||
Number of locations
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550 branches (2015) | ||||
Key people
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Services | Retail and corporate banking | ||||
(€billion) (2016) 1.502 | |||||
Total assets | €28.078 billion (2016) | ||||
Total equity | € | 1.743 billion (2016)||||
Owner | Atlante (97.64%) | ||||
Number of employees
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5,703 (2015 average) | ||||
Parent | Atlante | ||||
Subsidiaries |
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Capital ratio | 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.