Banca Nuova

Banca Nuova

Native name	Banca Nuova S.p.A.
Former type	Subsidiary Società per Azioni con Socio Unico
Industry	Financial services
Fate	absorbed by Intesa Sanpaolo
Predecessor	[old] Banca Nuova (branches and name only) Banca del Popolo – Banca Popolare (the legal person and branches)
Successor	branches of Intesa Sanpaolo
Founded	1883 in Trapani (Banca del Popolo) 2000 (Banca Nuova) 2002 in Palermo (merger) 2010–11 (re-incorporation)
Founder	Giuseppe D'Alì () (co-founder in 1883) Banca Popolare di Vicenza (2002 merger)
Defunct	circa late 2017
Headquarters	Palermo, Italy
Number of locations	81 branches (Dec.2016) 81 branches (Jun.2017)
Area served	Sicily region Calabria region Rieti, Lazio (former)
Key people	Gabriele Piccini (CEO)
Profit	negative €47 million (2016FY) negative €14 million (2017S1)
Total assets	€4.148 billion (Dec.2016) €3.943 billion (Jun.2017)
Total equity	€0160 million (Dec.2016) €0196 million (Jun.2017)
Owner	Banca Popolare di Vicenza (until 26 June 2017) Intesa Sanpaolo (since 26 June 2017)
Number of employees	696 (Dec.2016) 670 (Jun.2017)
Capital ratio	6.97% (CET1, Dec.2016) 5.38% (CET1, Jun.2017)
Website	www.bancanuova.it
Footnotes / references source: 2016 Annual Report and 2017 Half-yearly report

Banca Nuova S.p.A. is an Italian bank headquartered in Palermo, Sicily island. The bank served the island (the region) mostly, with branches in Calabria region; It was a subsidiary of Banca Popolare di Vicenza (BPVi), in turn owned by Atlante, a banking sector owned bail-out fund from 2016 to mid-2017. In June 2017 the bank was acquired by Intesa Sanpaolo by another government-funded bail-out, and a plan to absorb the bank was announced in October 2017.

The predecessors of the bank, [old] Banca Nuova S.p.A. and Banca del Popolo – Banca Popolare (Banca del Popolo S.p.A., located in Trapani), were formed/acquired by Banca Popolare di Vicenza (BPVi) of the northern Italy in 2000. In July 2002 the [old] Banca Nuova was merged into Banca del Popolo, which the legal person of Banca del Popolo was renamed to [newer] Banca Nuova S.p.A., relocating it's headquarters from Trapani to Palermo.

[old] Banca Nuova S.p.A. was a new company incorporated on 25 August 2000, and acquired 20 branches (19 in Calabria region and 1 in Rieti, Lazio region) from Banca Intesa banking group (from its subsidiaries Banca Carime and Cassa di Risparmio di Rieti respectively) on 1 January 2001. In February 2002 it had 30 branches in the aforementioned area, as well as in Sicily Island, where the company was headquartered. The bank started to open branches on its own since 2000.

Banca del Popolo – Banca Popolare S.c. a r.l. was a cooperative bank founded in 1883 in Trapani. In 1996, it was exposed that one of the shareholder of the bank (8% of the share capital), Vincenzo Piazza, was linked to mafia.

In terms of branches, Banca del Popolo was not part of the the top 10 on the island in 1999; However, the bank was a leader (second) inside the Province of Trapani for 12.06% market share in 1997, in terms of deposits (Italian: raccolta).

The majority stake of the bank was acquired by BPVi circa 2000 and a "public offer to acquire" (Italian: offerta pubblica di acquisto, OPA) the remaining shares was started in late 2000 and completed in February 2001. After the acquisition, the bank was demutualized and became a società per azioni circa 2000-01.