UBI Banca
Encyclopedia
Unione di Banche Italiane S.c.p.A., branded as UBI Banca, is the fifth-largest banking group in Italy
by both market capitalisation and number of branches
. The firm is primarily a holding company
for a number of Italian cooperative banks, although it also controls the publicly-traded online bank
IWBank
and various insurance
and asset management
interests. The group was formed in 2007 from the merger of BPU (Banche Popolari Unite) and Banca Lombarda e Piemontese.
, which makes up almost three-quarters of its total revenues. At the end of September 2009, the group held 1,945 branches in Italy, of which over half were located in Lombardy
(where the two largest members of its retail network, Banca Popolare di Bergamo and Banco di Brescia, are headquartered) and Piedmont
. The group also has a significant presence in the South of Italy though Banca Carime, which has around 300 branches across Apulia
, Calabria
, Campania
and Basilicata
.
The firm also owns a controlling interest in IWBank
, a provider of online banking
and trading
. The stake sat at over 80% at the end of June 2009.
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
by both market capitalisation and number of branches
Branch (banking)
A branch, banking center or financial center is a retail location where a bank, credit union, or other financial institution offers a wide array of face-to-face and automated services to its customers....
. The firm is primarily a holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
for a number of Italian cooperative banks, although it also controls the publicly-traded online bank
Online banking
Online banking allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society.-Features:...
IWBank
IWBank
IWBank S.p.A. is an Italian online bank majority-owned by UBI Banca, operating in Italy, France, Luxembourg, Spain, Germany, Austria and the UK. The bank characterises its offer for economic convenience and high technological content, limiting offline operations to two offices in Milan.-History:The...
and various insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
and asset management
Investment management
Investment management is the professional management of various securities and assets in order to meet specified investment goals for the benefit of the investors...
interests. The group was formed in 2007 from the merger of BPU (Banche Popolari Unite) and Banca Lombarda e Piemontese.
Operations
UBI Banca is principally involved in retail bankingRetail banking
Retail banking is banking in which banking institutions execute transactions directly with consumers, rather than corporations or other banks. Services offered include: savings and transactional accounts, mortgages, personal loans, debit cards, credit cards, and so forth.-Types of...
, which makes up almost three-quarters of its total revenues. At the end of September 2009, the group held 1,945 branches in Italy, of which over half were located in Lombardy
Lombardy
Lombardy is one of the 20 regions of Italy. The capital is Milan. One-sixth of Italy's population lives in Lombardy and about one fifth of Italy's GDP is produced in this region, making it the most populous and richest region in the country and one of the richest in the whole of Europe...
(where the two largest members of its retail network, Banca Popolare di Bergamo and Banco di Brescia, are headquartered) and Piedmont
Piedmont
Piedmont is one of the 20 regions of Italy. It has an area of 25,402 square kilometres and a population of about 4.4 million. The capital of Piedmont is Turin. The main local language is Piedmontese. Occitan is also spoken by a minority in the Occitan Valleys situated in the Provinces of...
. The group also has a significant presence in the South of Italy though Banca Carime, which has around 300 branches across Apulia
Apulia
Apulia is a region in Southern Italy bordering the Adriatic Sea in the east, the Ionian Sea to the southeast, and the Strait of Òtranto and Gulf of Taranto in the south. Its most southern portion, known as Salento peninsula, forms a high heel on the "boot" of Italy. The region comprises , and...
, Calabria
Calabria
Calabria , in antiquity known as Bruttium, is a region in southern Italy, south of Naples, located at the "toe" of the Italian Peninsula. The capital city of Calabria is Catanzaro....
, Campania
Campania
Campania is a region in southern Italy. The region has a population of around 5.8 million people, making it the second-most-populous region of Italy; its total area of 13,590 km² makes it the most densely populated region in the country...
and Basilicata
Basilicata
Basilicata , also known as Lucania, is a region in the south of Italy, bordering on Campania to the west, Apulia to the north and east, and Calabria to the south, having one short southwestern coastline on the Tyrrhenian Sea between Campania in the northwest and Calabria in the southwest, and a...
.
The firm also owns a controlling interest in IWBank
IWBank
IWBank S.p.A. is an Italian online bank majority-owned by UBI Banca, operating in Italy, France, Luxembourg, Spain, Germany, Austria and the UK. The bank characterises its offer for economic convenience and high technological content, limiting offline operations to two offices in Milan.-History:The...
, a provider of online banking
Online banking
Online banking allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society.-Features:...
and trading
Investing online
Investing online, or self-directed investing, has become the norm for individual investors and traders over the past decade with many, if not all brokers now offering online services with unique trading platforms.-Overview:...
. The stake sat at over 80% at the end of June 2009.