Intesa Sanpaolo was created on January 1, 2007, through the merger of two leading Italian banking groups, Banca Intesa and Sanpaolo IMI.
The first steps toward the merger process were taken on August 26, 2006, when the Boards of Directors of the two banks approved the guidelines for a merger plan. The plan was then agreed by the Boards on October 12, 2006, and ratified by the Extraordinary Shareholders' Meetings of the two banks on December 1 of the same year.
On August 5, 2020, Intesa Sanpaolo acquired control of UBI Banca. The merger by incorporation of UBI Banca into the Parent Company is expected to take place by April 2021.
Banca Intesa was formed in 1998 from the merger of Cariplo and Banco Ambrosiano Veneto. In 1999, Banca Commerciale Italiana (BCI) joined the Intesa Group. With the subsequent merger of BCI into Banca Intesa (May 2001), the group took the name IntesaBci. In December 2002 the Shareholders' Meeting resolved the change of the company name to Banca Intesa, effective as of January 1, 2003.
Establishment of Banca Intesa
Purchase of Cariplo from Fondazione Cariplo
Definition of the Group's new federal organisation
Presentation of the industrial plan to the market
Banca Intesa's Board of Directors authorised contacts with Banca Commerciale Italiana (BCI)
Banca Intesa's Board of Directors approved the integration of BCI according to the federal model
The Shareholders' Meeting approved the capital increase for the purchase of 70% of BCI
September 27 - October 15
Intesa-BCI Tender Offer
Presentation of the new divisional model to the market
The integration of BCI began; Steering Committee and area managers appointed
Banca Intesa's Shareholders' Meeting approved the merger of Ambroveneto, Cariplo and Mediocredito Lombardo
The Boards of Directors approved the merger of Banca Commerciale Italiana
New Board of Directors of Banca Intesa appointed
The operating management of the Group appointed
Banca Intesa incorporated Ambroveneto, Cariplo and Mediocredito Lombardo
BCI's Shareholders' Meeting approved the merger by incorporation into Banca Intesa
The Shareholders' Meeting of Banca Intesa approved the merger of BCI
Approval of the 2001-2003 Master Plan
The merger deed between Banca Intesa and BCI was signed
The Board of Directors approved the new organizational structure based on Divisions
The Board approved the 2003-2005 Business Plan
The Extraordinary Shareholders' Meeting of IntesaBci resolved to change the company name to Banca Intesa Spa
San Paolo IMI
Sanpaolo IMI was formed in 1998 from the merger of Istituto Bancario San Paolo di Torino and IMI (Istituto Mobiliare Italiano). These two banks were highly complementary: Istituto Bancario San Paolo di Torino was specialised in retail lending, IMI, a public entity founded in 1931 to support the reconstruction of the national industrial system, was a leading business and investment bank.
Merger of Istituto Bancario San Paolo di Torino (which has its roots in the Monte di Pietà founded in Turin in 1563), and IMI, and the renaming of the entity as Sanpaolo IMI.
Sanpaolo IMI continued to grow nationally, acquiring Banco di Napoli (that was founded as long ago as 1539 as a charitable institution focussed on helping the needy), entering into the share capital of Cassa dei Risparmi di Forlì e della Romagna and setting up strategic alliances with leading Italian and foreign banking institutions.
2001 - 2002
Integration with the Cardine Group, established through the merger of the Casse Venete and Casse Emiliano Romagnole Groups and consisting of seven banks (Cassa di Risparmio in Bologna, Cassa di Risparmio di Venezia, Cassa di Risparmio di Udine e Pordenone, Cassa di Risparmio di Gorizia, Banca Popolare dell'Adriatico - renamed Banca dell'Adriatico - and Banca Agricola di Cerea), operating in northeastern Italy and along the Adriatic coast.
Steps were taken to ensure the integration of Banco di Napoli and the Banks of the Cardine Group. To facilitate this integration process, companies operating within the same territory were combined: Banca Agricola di Cerea was therefore taken over by Cassa di Risparmio di Padova e Rovigo - renamed Cassa di Risparmio del Veneto - while Cassa di Risparmio di Udine e Pordenone and Cassa di Risparmio di Gorizia were merged to form Friulcassa, renamed Cassa di Risparmio del Friuli Venezia Giulia. In July 2003 the spin off of Sanpaolo Banco di Napoli, the major bank operating in southern Italy, was completed and in 2007 the bank took its original denomination Banco di Napoli.
Integration of all of the Group's Commercial Banks, adopting the same organisational and business model and the same IT platform, was completed.
The project for the new Insurance pole is launched and in October the strategic plan for the three-year period 2006-2008 is presented.
In January, the second phase of the development of the Savings and Pensions pole, which envisages the integration of Asset Management (Eurizon Capital SGR) into Eurizon Financial Group already including the insurance company EurizonVita (formerly AIP) and Banca Fideuram, is approved. In 2007, Eurizon Financial Group will be merged into Intesa Sanpaolo. After this merger, the three companies under Eurizon Financial Group's control will report directly to Intesa Sanpaolo.
UBI Banca was formed on April 1, 2007 from the merger of the BPU Banca Group and the Banca Lombarda e Piemontese Group, which were established following a series of mergers.
Last updated 9 November 2020 at 20:39:37