BPER Banca S.p.A.
Formerly
  • Banca Popolare dell'Emilia
  • Banca Popolare dell'Emilia Romagna
TypeSocietà per Azioni
BIT: BPE
FTSE MIB Component
ISINIT0000066123
IndustryFinancial services
Predecessor
  • Banca Popolare di Modena
  • Banca Cooperativa di Bologna
  • Banca Popolare di Cesena
Founded
  • 1867 (BP Modena)
  • 29 December 1983 (1983-12-29) (BP Emilia)
  • 1 May 1992 (1992-05-01) (BPER)
Headquarters
Modena
,
Italy
Number of locations
1273
Area served
18 out of 20 regions of Italy
Key people
Alessandro Vandelli (CEO), Pietro Ferrari (Chairman)
ServicesRetail and corporate banking, insurance
Increase €567,203 million [1] (2021)
Total assetsIncrease €134,174 billion[2] (2021)
Total equityIncrease €6,947 billion [3] (2021)
Subsidiaries
Capital ratio13.68% (CET1)
Websitebper.it
Footnotes / references
in consolidated financial statement[4]

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 (found 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 Popular 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 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 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

References

  1. ↑ "Financial statements and reports | BPER Banca".
  2. ↑ "Financial statements and reports | BPER Banca".
  3. ↑ "Financial statements and reports | BPER Banca".
  4. ↑ "2016 Bilancio consolidato" (PDF) (in Italian). Banca Popolare dell'Emilia Romagna. Archived from the original (PDF) on 8 July 2017. Retrieved 2 January 2018.
  5. ↑ "Banca Popolare - Business Profile". Financial Times. Retrieved 24 November 2013.
  6. ↑ "Le banche del Gruppo BPER: BPER Banca, Banco di Sardegna, Cassa di risparmio di Bra e di Saluzzo | BPER Banca".
  7. ↑ "The list of significant supervised entities and the list of less significant institutions" (PDF). European Central Bank. 4 September 2014.
  8. ↑ "List of supervised entities" (PDF). European Central Bank. 1 January 2023.
  9. ↑ "STATUTO SOCIALE (2015)" [Articles of association (2015)] (PDF) (in Italian). Banca Popolare dell'Emilia Romagna. 18 April 2015. Archived from the original (PDF) on 23 April 2016. Retrieved 10 April 2016.
  10. ↑ "2005 Bilancio Consuntivo" (PDF). Fondazione di Vignola (in Italian). Associazione di Fondazioni e di Casse di Risparmio S.p.A. (ACRI) archive. 16 November 2006. Retrieved 16 February 2016.
  11. ↑ "2005 Bilancio Individuale" (PDF). BPER (in Italian). Borsa Italiana archive. 18 May 2006.
  12. ↑ "2006 Bilancio Individuale" (PDF) (in Italian). BPER. 10 November 2007. Archived from the original (PDF) on 12 October 2016. Retrieved 16 February 2016.
  13. ↑ "BPER acquista controllo di Cassa di Risparmio di Bra" (in Italian). BPER. 7 February 2013. Retrieved 16 February 2016.
  14. ↑ "BPER Group: sale without recourse of a bad loan portfolio for a gross of € 450 million". BPER. 14 July 2016. Archived from the original on 24 July 2016. Retrieved 21 July 2016.
  15. ↑ "Rapporto sulla stabilità finanziaria N°1 - 2016" [Financial Stability Report N°1 - 2016] (PDF) (in Italian). Banca d'Italia. 29 April 2016. Retrieved 1 May 2016.
  16. ↑ "Amount paid for BPER shares subject to withdrawal". BPER Banca. 19 October 2016. Archived from the original on 31 January 2017. Retrieved 19 January 2017.
  17. ↑ "No request of withdrawal in relation to the transformation into a joint-stock company". BPER Banca. 3 January 2017. Archived from the original on 31 January 2017. Retrieved 19 January 2017.
  18. ↑ "BPER Banca completes the acquisition of Nuova Carife" (Press release). BPER Banca. 30 June 2017. Archived from the original on 14 November 2017. Retrieved 7 July 2017.
  19. ↑ "BPER Banca agrees to take over Banca Carige". 15 February 2022.
  20. ↑ "I nostri valori - BPER Banca". www.bper.it. Retrieved 13 April 2018.
  21. ↑ "2014 Bilancio Consuntivo" (in Italian). Fondazione Cassa di Risparmio della Provincia dell'Aquila (Fondazione Carispaq). 23 April 2015. Retrieved 9 March 2016.
  22. ↑ "2014 Bilancio d'esercizio" (in Italian). Fondazione Banca del Monte di Foggia. 13 May 2015. Retrieved 4 February 2016.
  23. ↑ "2014 Bilancio Consuntivo" (PDF) (in Italian). Fondazione di Vignola. 11 March 2016. Archived from the original (PDF) on 24 April 2016. Retrieved 14 April 2016.
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