Banca di Credito Sardo explained

Banca di Credito Sardo
Type:Subsidiary of a listed company
Foundation:1953
Defunct:2014
Hq Location City:Cagliari, Sardinia
Hq Location Country:Italy
Num Locations: 90 branches
Num Locations Year:2013
Num Employees: 1022
Num Employees Year:2013
Area Served:Sardinia Island
Industry:Financial services
Services:Retail and corporate Banking
Net Income Year:2013
Assets: €4,800,897,239
Assets Year:2013
Equity: €443,129,692
Equity Year:2013
Owner:Intesa Sanpaolo (100%)
Parent:Intesa Sanpaolo
Ratio: 15.81% (Tier 1)
Footnotes:source[1]

The Banca di Credito Sardo S.p.A. was an Italian bank headquartered in Cagliari, Sardinia. In 2014 it was absorbed by the parent company Intesa Sanpaolo.

The head office building, located in Cagliari, was designed by the Italian architect Renzo Piano.

History

Credito Industriale Sardo, ente di diritto pubblico con personalità giuridica propria, was established in 1953 as one of the 19 Mediocredito of Italy, as well as one of the three Istituti per il Finanziamento a Medio Terminealle Medie e Piccole Industrie nell'Italia Meridionale e Insulare (Istituti Meridionale), which were funded by Cassa per il Mezzogiorno.[2] The bank provided medium term loans to small and medium industries from the island. Due to Legge Amato, the bank became a limited company (Italian: [[S.A. (corporation)|Società per Azioni]]) in 1992.[3] The bank renamed into Banca CIS in the 1990s. In 2000 Mediocredito Lombardo, a subsidiary of Banca Intesa, acquired an additional 53.23% stake of Banca CIS from the, making Mediocredito Lombardo owned 55.37% stake.

In February 2009 the 93 branches of Intesa Sanpaolo and Banca CIS were merged to form Banca di Credito Sardo. At the same time the core business (medium term lending to enterprises) was transferred to Mediocredito Italiano (ex-Mediocredito Lombardo). However, Banca di Credito Sardo was absorbed into Intesa Sanpaolo in 2014.[4]

See also

Notes and References

  1. Web site: 2013 Bilancio. 2013 Annual Report. 8 April 2014. 3 April 2016. Banca di Credito Sardo. Italian.
  2. Web site: Sviluppo dell'attivita' creditizia nel campo industriale nell'Italia meridionale ed insulare. 5 May 1953. 3 April 2016. Italian Parliament. Italian Republic Official Gazette. Italian.
  3. Web site: Approvazione del progetto di ristrutturazione presentato dal Credito industriale sardo. 29 April 1992. 3 April 2016. Ministry of the Treasury. Italian Republic Official Gazette. Italian.
  4. Web site: INTESA SANPAOLO: MERGER BY INCORPORATION OF BANCA DI CREDITO SARDO S.P.A. AND CASSA DI RISPARMIO DI VENEZIA S.P.A. INTO INTESA SANPAOLO S.P.A.. 15 September 2014. 3 April 2016. Intesa Sanpaolo.