BPER Banca explained

BPER Banca S.p.A.
Type:Società per Azioni
Traded As:
FTSE MIB Component
Isin:IT0000066123
Location City:Modena
Location Country:Italy
Locations:1273
Area Served:18 out of 20 regions of Italy
Key People:Alessandro Vandelli (CEO), Pietro Ferrari (Chairman)
Industry:Financial services
Services:Retail and corporate banking, insurance
Net Income: €567,203 million [1]
Net Income Year:2021
Assets: €134,174 billion[2]
Assets Year:2021
Equity: €6,947 billion [3]
Equity Year:2021
Homepage:bper.it
Footnotes:in consolidated financial statement[4]
Ratio:13.68% (CET1)

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.[5] The company is based in Modena and is a constituent of the FTSE MIB index.

The bank had branches in most of Italy, but not in Aosta Valley and Friuli – Venezia Giulia.[6] 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.

BPER has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.[7] [8]

History

Banca Popolare dell'Emilia was formed by the merger of Banca Popolare di Modena (founded in 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.[9] The bank acquired and absorbed many provincial and regional-level Community Banks (Italian: Banca Popolare) and Savings Banks (Italian: Cassa di Risparmio) from the 1990s to the 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 a 67% stake.[13]

The bank was affected by Decree-Law N°3 of 2015, which required banks with assets more than €8 billion to transform from Cooperative societies (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 loans) were sold to Algebris NPL Fund and Cerberus European Investments without recourse.[14] Italian banks had the highest gross NPLs to total loan ratio in the European Union (18% at 31 December 2015);[15] 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 the historical price of the bank.[16] However, no share was repurchased,[17] and the market value of the bank in the Borsa returned 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.[18]

In February 2019, BPER Banca announced the acquisition of Unipol Banca from Unipol and UnipolSai. The takeover was completed in July 2019 and on 25 November 2019, Unipol Banca was incorporated into BPER Banca.

In 2020, BPER entered into an agreement with Intesa Sanpaolo to acquire 532 branches the latter will have to shed as a result of regulatory obligations resulting from its successful acquisition of rival UBI Banca.

In February 2022, BPER Banca acquired Banca Carige. [19]

Former subsidiaries

[20]

Equity interests

Shareholders

Due to issuing new shares in the acquisitions of some banks, some banking foundations were shareholders of the bank, namely Fondazione Banco di Sardegna (3.021%), Fondazione Carispaq (0.58%),[21] Fondazione Monte Foggia (0.06%),[22] Fondazione di Vignola (0.00%).[23]

Norges Bank also owned 2.062% shares. UnipolSai owns about 20% of the capital.

See also

Notes and References

  1. Web site: Financial statements and reports | BPER Banca.
  2. Web site: Financial statements and reports | BPER Banca.
  3. Web site: Financial statements and reports | BPER Banca.
  4. Web site: 2016 Bilancio consolidato. 2 January 2018. Banca Popolare dell'Emilia Romagna. it. https://web.archive.org/web/20170708220516/http://www.gruppobper.it/wps/wcm/connect/b1fa9000468e4282ac92fc82a2f9ee3f/Bilancio+consolidato+31.12.2016+def.pdf?MOD=AJPERES&CACHEID=b1fa9000468e4282ac92fc82a2f9ee3f. 8 July 2017. dead.
  5. Web site: Banca Popolare - Business Profile. Financial Times. 24 November 2013.
  6. Web site: Le banche del Gruppo BPER: BPER Banca, Banco di Sardegna, Cassa di risparmio di Bra e di Saluzzo | BPER Banca.
  7. Web site: European Central Bank . The list of significant supervised entities and the list of less significant institutions . .
  8. Web site: European Central Bank . List of supervised entities . .
  9. Web site: STATUTO SOCIALE (2015). Articles of association (2015). 18 April 2015. 10 April 2016. Banca Popolare dell'Emilia Romagna. it. https://web.archive.org/web/20160423033839/http://www.bper.it/wps/wcm/connect/bb478f0049e46c2b8d09adf889bba944/Statuto+Bper+18.4.2015.pdf?MOD=AJPERES&CACHEID=bb478f0049e46c2b8d09adf889bba944. 23 April 2016. dead.
  10. Web site: 2005 Bilancio Consuntivo. 16 November 2006. 16 February 2016. Fondazione di Vignola . Associazione di Fondazioni e di Casse di Risparmio S.p.A. (ACRI) archive. it.
  11. Web site: 2005 Bilancio Individuale. 18 May 2006. BPER. Borsa Italiana archive. it.
  12. Web site: 2006 Bilancio Individuale. 10 November 2007. 16 February 2016. BPER. it. https://web.archive.org/web/20161012014456/http://www.bper.it/wps/wcm/connect/02c6a5004900a4079a8edae4fe72f983/bil+individuale+2006.pdf?MOD=AJPERES&CACHEID=02c6a5004900a4079a8edae4fe72f983. 12 October 2016. dead.
  13. Web site: BPER acquista controllo di Cassa di Risparmio di Bra. 7 February 2013. 16 February 2016. BPER. it.
  14. Web site: BPER Group: sale without recourse of a bad loan portfolio for a gross of € 450 million. 14 July 2016. 21 July 2016. BPER. https://web.archive.org/web/20160724132043/http://www.gruppobper.it/wps/gruppo/banca/bper_istzgruppo_content/sitoen/homepage/pressandmedia/comunicatistampa/articoli/2016/7/com14072016. 24 July 2016. dead.
  15. Web site: Rapporto sulla stabilità finanziaria N°1 - 2016. Financial Stability Report N°1 - 2016. 29 April 2016. 1 May 2016. Banca d'Italia. it.
  16. Web site: Amount paid for BPER shares subject to withdrawal. 19 October 2016. 19 January 2017. BPER Banca. https://web.archive.org/web/20170131194832/http://www.gruppobper.it/wps/gruppo/banca/bper_istzgruppo_content/sitoen/homepage/investorrelations/comunicati/articoli/2016/10/com2-19102016. 31 January 2017. dead.
  17. Web site: No request of withdrawal in relation to the transformation into a joint-stock company. 3 January 2017. 19 January 2017. BPER Banca. https://web.archive.org/web/20170131201336/http://www.gruppobper.it/wps/gruppo/banca/bper_istzgruppo_content/sitoen/homepage/investorrelations/comunicati/articoli/2017/1/com030117. 31 January 2017. dead.
  18. BPER Banca completes the acquisition of Nuova Carife. 30 June 2017. 7 July 2017. BPER Banca. https://web.archive.org/web/20171114202427/http://www.gruppobper.it/wps/gruppo/banca/bper_istzgruppo_content/sitoen/homepage/investorrelations/comunicati/articoli/2017/6/com300617. 14 November 2017. dead.
  19. Web site: BPER Banca agrees to take over Banca Carige. 15 February 2022.
  20. Web site: I nostri valori - BPER Banca. www.bper.it. 13 April 2018.
  21. Web site: 2014 Bilancio Consuntivo. 23 April 2015. 9 March 2016. Fondazione Cassa di Risparmio della Provincia dell'Aquila (Fondazione Carispaq). it.
  22. Web site: 2014 Bilancio d'esercizio. 13 May 2015. 4 February 2016. Fondazione Banca del Monte di Foggia. it.
  23. Web site: 2014 Bilancio Consuntivo. 11 March 2016. 14 April 2016. Fondazione di Vignola. it. https://web.archive.org/web/20160424124109/http://www.fondazionedivignola.it/files/file/FondazioneVignola_Bilancio_Consuntivo_2014.pdf. 24 April 2016. dead.

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