Nuova Banca delle Marche

Banca Marche
Native name
 Nuova Banca delle Marche S.p.A.
Società per azioni
Industry Financial services
Predecessor
  • Cassa di Risparmio della Provincia di Macerata
  • Cassa di Risparmio di Pesaro
  • Cassa di Risparmio di Jesi
  • Banca delle Marche
Founded
  • 1994 in Ancona (merger of C.R. Macerata and Pesaro)
  • 22 November 2015 (2015-11-22) (refound)
Headquarters 6 via Ghislieri, Jesi, Italy
Number of locations
 319 (2015)
Area served
  • Marche (231)
  • Lazio (39)
  • Emilia–Romagna (20)
  • Abruzzo (14)
  • Umbria (14)
  • Molise (1)
Key people
 Roberto Nicastro (chairman)
Services Retail and corporate banking
Profit (€63.771 million) (December 2015)
Total assets €14.080 billion (2015)
Total equity Decrease €977.091 billion (2015)
Owner Italian National Resolution Fund (100%)
Number of employees
 2,604 (2015)
Parent Italian National Resolution Fund
Subsidiaries Cassa di Risparmio di Loreto
Capital ratio
  • 9.76% (CET1)
  • 9.76% (Tier 1)
  • 9.76% (Total Capital Ratio)
Website bancamarche.it
Footnotes / references
in a consolidated basis[1]

Nuova Banca delle Marche S.p.A. is an Italian bank based in Jesi. It has operations in several regions in central Italy, but concentrated in Marche region. (72% of the branches) It was formed on 22 November 2015 by the spin off of the good assets of the original Banca delle Marche S.p.A..

History

Banca delle Marche was founded in 1994 by the merging of two banks: Cassa di Risparmio della Provincia di Macerata and Pesaro; Cassa di Risparmio di Jesi joined in 1995. In 1990s Cassa di Risparmio delle Provincie Lombarde (Cariplo) was a minority shareholders of the bank for 5.13% (as in 1996),[2] which Cariplo was a minority shareholders of CR Jesi;[3] it was diluted to 4.60% in 2001,[4] which was sold by Banca Intesa in 2002 to Banca delle Marche as treasury shares, for €45 million.[5] In 1997 the bank acquired a controlling interests in Cassa di Risparmio di Loreto and Mediocredito Fondiario Centroitalia (Banca Marche owned 41.18% shares), the pro forma market share of the group in the loan of Marche region, was 26.7% (based on 1996 data), while before the acquisition, the bank already had a market monopoly of 53.6% in the deposits of the Province of Macerata (pro rata 55.0% after the acquisition), comparing to Banca Popolare di Ancona (14%), Banca di Roma (6.38%) and Banca Nazionale del Lavoro (5.60%). The pro forma market share of the deposits in the Province of Ancona was 32.3%, which ahead Banca Popolare di Ancona (13.03%), Unicredito (11.04%) and Banca di Roma (9.78%).[6][7]

On 1 July 2003 Sanpaolo IMI purchased 7% shares of the bank for €92.1 million. The banking foundations also had a put option to sell an additional 8% shares to Sanpaolo IMI.[8] However, the foundations did not excise the option. In 2007 the shares held by Sanpaolo IMI was transferred to Intesa Sanpaolo after the merger with Banca Intesa. Intesa Sanpaolo did not took part in the capital increase of Banca delle Marche in 2012.

Insolvency

On 24 October 2011, the board of directors proposed a capital increase of a minimum of €180,677,922.70 to a maximum of €212,562,262.00.[9] After the capital increase (of €179,573,391[10]), as at 31 December 2012, the bank had a Tier 1 capital ratio of just 5.62% in consolidated balance sheets, with a shareholders' equity of €959.503 million.[11] According to Ricerche e Studi, the bank was the 19th largest bank in Italy by total assets as at 31 December 2012.[12]

On 15 October 2013 it was under special administration (A.S.) by the Ministry of Economy and Finance, after a temporary administration by the Banca d'Italia in August.[13][14] On 4 August 2014 Credito Fondiario credited Banca delle Marche for €1.8 billion,[15] which Credito Fondiario also planned to subscribe the new shares of Banca Marche, partnering with Fondo Interbancario di Tutela dei Depositi (FITD).[16] The plan was approved by Banca d'Italia on 3 December 2014.[16] However, the plan was scrapped due to European Commission's investigation on state aid.[17] After Banca Marche failed to repay the loan, Credito Fondiario sold the collateral in May–June 2015,[15] which fully reimbursed the loan, with an excess amount was return to Banca Marche in June.[18]

Another capital injection of more than €2 billion to Banca Marche, Banca Etruria, Carife, and CariChieti by FITD was planned in late 2015, (€1.2 billion maximum for Banca Marche)[19][20] subject to the permission from the Banca d'Italia and European Central Bank.[21]

Eventually they were bail-out by Italian National Resolution Fund (Italian: Fondo Nazionale di Risoluzione) on 22 November instead, for about €2 billion (recapitalisation only). The rescue of the four banks were in line with EU Bank Recovery and Resolution Directive, which was in force in Italy in late 2015. Banca d'Italia was the assigned "national resolution authority" of this mechanism.[22] As the plans were following the directive, they were approved by the European Commission.[22] Banca Marche assets and liabilities would split into good and bad bank, while the old bank would be liquidated,[23] which the shareholders and subordinated bond holders would receive nothing due to bail-in.[24] As at 31 December 2015 Fondazione Carima had a net assets of €74,227,538 (decreased from €154,175,111),[25] while Fondazione CR Pesaro had a net assets of €65,594,243 (decreased from €169,830,262).[26] Fondazione CR Jesi suffered the most, which decreased from €76,388,622 to €10,989,510.[27]

The fund had also injected an additional €1.7 billion to the 4 banks to cover the losses.[24] (€1.005 billion along to Banca Marche[28])

On 3 May 2016, Decree-Law N°59/2016 was announced, which the retail investors of the bond of the 4 banks would be refunded (up to €100,000, same as deposit insurance) if they purchased the bond on or before 12 June 2014, the date of Bank Recovery and Resolution Directive was passed in the European Parliament.[29] The decree-law was a response to the criticism of the bail-in of all junior investors of the bank, which Italian bank often sold risky bond of themselves to their depositors. The refund scheme: Fondo di solidarietà, would be managed by FITD.[30]

Nuova Banca delle Marche

On 22 November 2015 the bank was split into a bad and good bank, which the good bank was called Nuova Banca delle Marche.[31] The new bank had a share capital of €1.041 billion[32] and a Tier 1 capital ratio of 9%.[33] While the bad debts was transferred to a single "bad bank" REV - Gestione Crediti, which was shared with Carichieti, Carife and Banca Etruria.[34] The transfer of the bad debt was completed in early 2016.

In March 2016 a plan to absorb Medioleasing into Nuova Banca delle Marche was announced.[35] On 1 August it became effective.[36] Focus Gestioni SGR, the asset management subsidiary of the bank, was also entered voluntary liquidation.

Shareholders

As of 22 November 2015 [37][38]
2001
Shareholders Stake (% of ordinary shares)
Fondazione Cassa di Risparmio della Provincia di Macerata 21.83%
Fondazione Cassa di Risparmio di Pesaro 21.83%
Fondazione Cassa di Risparmio di Jesi 10.45%
CGNU Holding 5.80%
Commercial Union Italia 2.49%
Banca Intesa 4.60%
others
2002
Shareholders Stake (% of ordinary shares)
Fondazione Cassa di Risparmio della Provincia di Macerata Steady 21.83%
Fondazione Cassa di Risparmio di Pesaro Steady 21.83%
Fondazione Cassa di Risparmio di Jesi Steady 10.45%
Aviva Italia Holding Steady 5.80%
Commercial Union Italia Steady 2.49%
others
Treasury shares Increase 4.86%
2003
Shareholders Stake (% of ordinary shares)
Fondazione Cassa di Risparmio della Provincia di Macerata Decrease 20.94%
Fondazione Cassa di Risparmio di Pesaro Decrease 20.94%
Fondazione Cassa di Risparmio di Jesi Decrease 10.03%
Aviva Italia Holding Steady 5.80%
Commercial Union Italia Steady 2.49%
Sanpaolo IMI Increase 7.00%
others
Treasury shares Decrease 0.10%
2007
Shareholders Stake (% of ordinary shares)
Fondazione Cassa di Risparmio della Provincia di Macerata Steady 20.94%
Fondazione Cassa di Risparmio di Pesaro Steady 20.94%
Fondazione Cassa di Risparmio di Jesi Steady 10.03%
Aviva Italia Holding Steady 5.80%
Aviva Italia Steady 2.49%
Intesa Sanpaolo Steady 7.00%
Fondazione Cassa di Risparmio di Fermo Increase 0.02%
others
Treasury shares Decrease 0.01%
2008
Shareholders Stake (% of ordinary shares)
Fondazione Cassa di Risparmio della Provincia di Macerata Steady 20.94%
Fondazione Cassa di Risparmio di Pesaro Steady 20.94%
Fondazione Cassa di Risparmio di Jesi Steady 10.03%
Aviva Italia Holding Steady 5.80%
Aviva Italia Steady 2.49%
Intesa Sanpaolo Steady 7.00%
Fondazione Cassa di Risparmio di Fermo Increase 0.06%
others
Treasury shares Increase 0.12%
2009
Shareholders Stake (% of ordinary shares)
Fondazione Cassa di Risparmio della Provincia di Macerata Steady 20.94%
Fondazione Cassa di Risparmio di Pesaro Steady 20.94%
Fondazione Cassa di Risparmio di Jesi Steady 10.03%
Intesa Sanpaolo Steady 7.00%
Aviva Italia Holding Decrease 3.52%
Aviva Italia Steady 2.49%
Fondazione Cassa di Risparmio di Fano Increase 2.30%
Fondazione Cassa di Risparmio di Fermo Steady 0.06%
others
Treasury shares Increase 0.18%
2010
Shareholders Stake (% of ordinary shares)
Fondazione Cassa di Risparmio della Provincia di Macerata Increase 22.40%
Fondazione Cassa di Risparmio di Pesaro Increase 22.40%
Fondazione Cassa di Risparmio di Jesi Increase 10.73%
Intesa Sanpaolo Steady 7.00%
Fondazione Cassa di Risparmio di Fano Increase 3.33%
Fondazione Cassa di Risparmio di Fermo Steady 0.06%
others
Treasury shares Increase 2.59%
2012
Shareholders Stake (% of ordinary shares)
Fondazione Cassa di Risparmio della Provincia di Macerata Increase 22.51%[39]
Fondazione Cassa di Risparmio di Pesaro Increase 22.51%[40]
Fondazione Cassa di Risparmio di Jesi Increase 10.78%[41]
Intesa Sanpaolo Decrease 5.84%[10]
Fondazione Cassa di Risparmio di Fano Increase 3.35%[42]
Fondazione Cassa di Risparmio di Fermo Increase 0.06%[43]
others
Treasury shares Increase 2.89%%[10]
2015
Shareholders Stake (% of ordinary shares)
Italian National Resolution Fund 100%

Subsidiaries

Cassa di Risparmio di Loreto, Medioleasing and Focus Gestioni SGR were subsidiaries of the group as at 2014.[44] Mediocredito Fondiario Centroitalia, which was absorbed into Banca delle Marche in 2003,[45][46] was a merger of Mediocredito delle Marche and Istituto di Credito Fondiario delle Marche, Umbria, Abruzzo e Molise in 1992.[47]

The bank also formed a joint venture company in bancassurance with CGU plc (via subsidiary now known as Aviva Italia Holding) in 1999.[48]

Sponsorship

The bank was a sponsor of sports team Associazione Sportiva Volley Lube and Fabriano Basket; the venue PalaRossini was named after the bank.

See also

References

  1. ↑ "Bilancio Consolidato 31 dicembre 2015" (PDF) (in Italian). Nuova Banca delle Marche. 22 July 2016. Retrieved 23 September 2016.
  2. ↑ Cassa di Risparmio delle Provincie Lombarde S.p.A. bilancio (financial report and accounts) on 31 December 1996, PDF purchased in Italian C.C.I.A.A.
  3. ↑ "Approvazione del progetto di ristrutturazione presentato dalla Cassa di risparmio di Jesi" (in Italian). Italian Republic Official Gazette. 17 April 1992. Retrieved 10 March 2016.
  4. ↑ "2001 Bilancio" (PDF) (in Italian). Banca Intesa. 2 April 2002. Retrieved 10 March 2016.
  5. ↑ "2002 Bilancio" (PDF) (in Italian). Banca Intesa. 22 April 2003. Retrieved 10 March 2016.
  6. ↑ "Provvedimento N°4712 (C2704): Banca delle Marche / Cassa di Risparmio di Loreto / Mediocredito Fondiario Centro Italia" (PDF) (in Italian). Autorità Garante della Concorrenza e del Mercato. 27 February 1997. Retrieved 10 March 2016.
  7. ↑ "Provvedimento N°20: Banca delle Marche / Cassa di Risparmio di Loreto / Mediocredito Fondiario Centro Italia" (PDF) (in Italian). Banca d'Italia. 18 March 1997. Retrieved 10 March 2016.
  8. ↑ "SANPAOLO IMI ACQUIRES STRATEGIC STAKE IN BANCA DELLE MARCHE". Sanpaolo IMI. 1 July 2003. Retrieved 6 March 2016.
  9. ↑ "Aumento capitale sociale 2012 Banca delle Marche S.p.A." (in Italian). Banca delle Marche. Retrieved 6 March 2016.
  10. 1 2 3 "2012 Bilancio Individuale" (PDF) (in Italian). Banca delle Marche. 13 May 2013. Retrieved 6 March 2016.
  11. ↑ "2012 Bilancio Consolidato" (PDF) (in Italian). Banca delle Marche. 28 May 2013. Retrieved 6 March 2016.
  12. ↑ "LE PRINCIPALI BANCHE ITALIANE" (PDF) (in Italian). Ricerche e Studi. 18 October 2013. Archived from the original (PDF) on 11 July 2014.
  13. ↑ "Italy's Banca Marche put under special administration". Reuters. 30 August 2013. Retrieved 10 April 2015.
  14. ↑ "BANCA DELLE MARCHE" (PDF) (in Italian). Banca d'Italia. 10 November 2013. Retrieved 6 March 2016.
  15. 1 2 "Press Release". Banca delle Marche. 20 May 2015. Retrieved 19 April 2016.
  16. 1 2 "2014 Annual Report". Fondo Interbancario di Tutela dei Depositi. 27 February 2015. Retrieved 19 April 2016.
  17. ↑ "La crisi di Banca delle Marche" (in Italian). Banca d'Italia. Retrieved 19 April 2016.
  18. ↑ "Press Release". Banca delle Marche. 25 June 2015. Retrieved 19 April 2016.
  19. ↑ "Fitd, 2 mld per salvataggi banche" [FITD, 2 billion to rescue banks] (in Italian). ANSA. 27 October 2015. Retrieved 9 April 2016.
  20. ↑ "2015 Annual Report". Fondo Interbancario di Tutela dei Depositi. 29 March 2016. Retrieved 9 April 2016.
  21. ↑ "Comunicato Stampa". Fondo Interbancario di Tutela dei Depositi. 8 October 2015. Retrieved 19 April 2016.
  22. 1 2 "State aid: Commission approves resolution plans for four small Italian banks Banca Marche, Banca Etruria, Carife and Carichieti". European Commission. 22 November 2015. Retrieved 9 March 2016.
  23. ↑ "Avvio della risoluzione di Banca delle Marche S.p.A., in Ancona, in amministrazione straordinaria" (in Italian). Italian Republic Official Gazette. 5 March 2016. Retrieved 6 March 2016.
  24. 1 2 "Information on resolution of Banca Marche, Banca Popolare dell'Etruria e del Lazio, Carichieti, and Cassa di Risparmio di Ferrara crises". Banca d'Italia. 22 November 2015. Retrieved 8 March 2016.
  25. ↑ "2015 Bilancio dell'esercizio" (PDF) (in Italian). Fondazione Cassa di Risparmio della Provincia di Macerata. 12 May 2016. Retrieved 26 June 2016.
  26. ↑ "2015 Bilancio" (PDF) (in Italian). Fondazione Cassa di Risparmio di Pesaro. 29 April 2016. Retrieved 26 June 2016.
  27. ↑ "2015 Bilancio" (PDF) (in Italian). Fondazione Cassa di Risparmio di Jesi. 16 June 2016. Retrieved 26 June 2016.
  28. ↑ Page 9, 2015 Bilancio
  29. ↑ "DECRETO-LEGGE 3 maggio 2016, n. 59" (in Italian). Italian Republic Official Gazette. 3 May 2016. Retrieved 21 July 2016.
  30. ↑ "Accesso al Fondo di Solidarietà" (in Italian). FITD. Retrieved 21 July 2016.
  31. ↑ "Soluzione della crisi di quattro banche in amministrazione straordinaria" (in Italian). Banca d'Italia. 22 November 2015. Retrieved 13 February 2016.
  32. ↑ "Statuto" [Articles of association] (PDF) (in Italian). Nuova Banca delle Marche. 24 November 2015. Retrieved 6 March 2016.
  33. ↑ "Chi siamo" [About us] (in Italian). Nuova Banca delle Marche. Retrieved 6 March 2016.
  34. ↑ "Nuova Banca delle Marche S.p.A.. Cessione dei crediti in sofferenza a REV - Gestione Crediti S.p.A., ai sensi del D.Lgs. 180/2015." (PDF) (in Italian). Banca d'Italia. 29 January 2016. Retrieved 8 March 2016.
  35. ↑ "Banca delle Marche S.p.A.. Modifica del programma di risoluzione, ai sensi del D.Lgs.180/2015 e decorrenza degli effetti." (PDF) (in Italian). Banca d'Italia. 11 March 2016. Retrieved 27 April 2016.
  36. ↑ http://www.bancamarche.it/medioleasing
  37. ↑ Bilanci di Fondazione Cassa di Risparmio di Jesi
  38. ↑ Bilanci di Banca delle Marche
  39. ↑ "2014 Bilancio" (PDF) (in Italian). Fondazione Cassa di Risparmio della Provincia di Macerata. 26 May 2015. Retrieved 6 March 2016.
  40. ↑ "2014 Bilancio" (PDF) (in Italian). Fondazione Cassa di Risparmio di Pesaro. 4 May 2015. Retrieved 6 March 2016.
  41. ↑ "2014 Bilancio" (PDF). Fondazione Cassa di Risparmio di Jesi (in Italian). ACRI archive. 16 September 2015. Retrieved 6 March 2016.
  42. ↑ "2014 Bilancio" (PDF) (in Italian). Fondazione Cassa di Risparmio di Fano. 13 April 2015. Retrieved 6 March 2016.
  43. ↑ "2014 Bilancio" (PDF) (in Italian). Fondazione Cassa di Risparmio di Fermo. 2 July 2015. Retrieved 9 March 2016.
  44. ↑ "Chi siamo" [About us] (in Italian). Banca delle Marche. Archived from the original on 17 April 2014.
  45. ↑ "Fusione Per Incorporazione Con Mediocredito E Carilo" (in Italian). Banca delle Marche. 6 November 2002. Retrieved 21 April 2016.
  46. ↑ "2003 Financial Statement and Reports". Banca delle Marche. 11 November 2004. Retrieved 10 March 2016.
  47. ↑ Ministry of the Treasury (16 July 1992). "Approvazione del progetto di ristrutturazione presentato dal Mediocredito delle Marche, Istituto di credito fondiario delle Marche, Umbria, Abruzzo e Molise" (in Italian). Italian Republic Official Gazette. Retrieved 10 March 2016.
  48. ↑ Case No IV/M.1627 : CU Italia / Banca delle Marche / JV
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