The integration of 186 Intesa Sanpaolo branches with the Cassa di Risparmio di Padova e Rovigo has created the leading banking operator in the Veneto and a new driver of growth in the north-east of Italy

CASSA DI RISPARMIO DEL VENETO (INTESA SANPAOLO):
NOW THE BIGGEST REGIONAL BANK IN ITALY

548 branches, 4,600 employees, 900,000 customers,
19.2 billion euros in investments and 32.1 billion in overall deposits and savings

Padua, 25 September 2008 –The integration of the subsidiaries of the Cassa di Risparmio di Padova e Rovigo (Intesa Sanpaolo Group) and the Intesa Sanpaolo subsidiaries operating in the Veneto (excluding the province of Venice) has resulted in the creation of the Cassa di Risparmio del Veneto, the leading banking operator in the Veneto and the biggest regional bank in Italy, with 548 branches, 19.2 billion euros in investments and 32.1 billion in financial assets. In the six provinces in which the new bank operates, market share is 16.5% for the branches, 16.9% for investments and 18.3% for deposits. In terms of the market share of the branches, the new bank is the market leader in the provinces of Padua and Rovigo, second in Belluno and Treviso and third in Verona and Vicenza.

Cassa di Risparmio del Veneto – 100% owned by Intesa Sanpaolo – was unveiled today in Padua at a meeting with local authorities, representatives of the business sector, academics and researchers and professional associations. The presentation included speeches by top staff in the Intesa Sanpaolo Group: the Chairman of the Management Committee, Enrico Salza, the Managing Director and CEO, Corrado Passera, the Director General and Head of the Banca dei Territori Division, Pietro Modiano, and the directors of the new bank, Orazio Rossi (Chairman) and Rinaldo Panzarini (Chief Executive).

The Cassa di Risparmio del Veneto operates in all provinces of the Veneto region, with the exception of the province of Venice, where the Group is present in the form of another established entity with its own strong traditions in the region, the Cassa di Risparmio di Venezia. This operation takes place within the context of the Banca dei Territori di Intesa Sanpaolo business plan, which aims to situate the Group in a strong position in all the Italian regions.

The new bank has 4,600 employees serving 900,000 customers, including 800,000 families and 100,000 firms, including some 1,600 with sales of over 150 million euros.

The commitment shown by these figures, the deep, historic roots in the economy of the region, and the combination of local experience and membership of one of the major European banking groups put the Cassa di Risparmio del Veneto in an ideal position to play a leading role in the economic and social growth of the north-east of Italy.

The new bank will offer a wider range of products and services to families (for example, a family budget sustainability service with financial check-ups, flexible loans, the granting of loans against assignment of one fifth of salary [cessione del quinto], loans to students), to companies (support for investments and for innovation, development and internationalization procedures, support for agriculture), to local government and the social security system (commitment to social, cultural and non-profit-making activities and infrastructure development).

The bank offers custom-built lines of credit aimed at various sectors of production, and benefits from the skills of Mediocredito Italiano, the Group’s dedicated unit specializing in financial management and innovative support for the development of small and medium-sized companies, with medium and long-term services and custom-designed financing, subsidized credits, funding for research and development, and leasing. With the help of Banca IMI, a specialist in managing structured finance operations and project financing, we can provide companies with assistance with growth and development and all capital market services. The BIIS, the Group’s Public Finance bank, is active in start-up initiatives for growth in the area, such as large infrastructure development and urban planning projects, support for public and private health systems, the improvement of public services and balancing of public sector finances. Banca Prossima, the Group’s bank for the non-profit-making sector (social and community enterprises), allows us to undertake ventures of a social nature in the area, providing credit to outstanding initiatives. According to our estimates, the non-profit-making sector in the Veneto numbers approximately 24,000 operators and 415,000 employees, and with a cashflow of 6 billion euros ,it is one of the leaders of the sector in Italy.

The new bank can also count on the overseas network of the Intesa Sanpaolo Group, present in 44 countries through representative offices and overseas subsidiaries, and in particular the Group’s 12 banks in Central and Eastern Europe and the Mediterranean, with a network of about 1,900 branches. An overseas presence of this importance is fundamental in the Veneto, where firms export over 40% of their production in value terms, representing 12% of all national exports and 9% of imports, and where 18% of Veneto companies now have bases abroad.

The bank provides treasury services for almost 500 organizations, including provincial governments, local councils, Chambers of Commerce, hospitals and local health institutions, and educational establishments, with a total annual cashflow exceeding 12 billion euros. Relationships with trade associations and with guarantee intermediaries [Consorzi di Garanzia Fidi] are also important, and there are 34 such agreements in the six provinces in which the Cassa is active, with a credit stock of 500 million euros.

The Veneto is characterized by a strong entrepreneurial tradition, but agriculture is also important. Through its various specialized divisions, the Cassa has always provided trade associations with expertise in subsidized credit, and has around 8,500 customers among the firms operating in this sector, with 100 million euros of medium and long-term loans granted in 2007.

History. The existence of the Intesa Sanpaolo Group in the Veneto goes back to the first half of the 19th century, thanks to the long history of the banks which over the years merged in the course of the development of the modern banking sector.
The Cassa di Risparmio di Padova e Rovigo is proud of its status as the oldest Italian savings bank, tracing its origins from the savings banks established in 1822, while the roots of the regional branch network of Intesa Sanpaolo are to be found in the Banca Cattolica Vicentina, established in 1892, which then became the Banca Cattolica del Veneto, which was in turn taken over by the Banco Ambrosiano Veneto and finally by the Banca Intesa.

 

For further details:
Chiara Carlotti
Intesa Sanpaolo – Media Relations
Tel. 049/8368566 – mobile 335/1355936
chiara.carlotti@intesasanpaolo.com