UBI Banca

UBI Banca

Native name	Unione di Banche Italiane S.p.A.
Type	Società per Azioni
Traded as	BIT: UBI
ISIN	IT0003487029
Industry	Financial services
Founded	2003 (BPU) 2007 (UBI)
Headquarters	8 Piazza Vittorio Veneto, Bergamo, Italy (in register) 71 via Cefalonia, Brescia, Italy (second office)
Number of locations	1,554 branches (2015)
Key people	Giuseppe Vigorelli (honorary president) Andrea Moltrasio (president of supervisory board) Franco Polotti (president of management board) Victor Massiah (CEO)
Products	Retail banking, asset management, financial leasing, factoring
Total equity	€9.982 billion (2015^[1])
Owner	Silchester International Investors LLP (5.123%) CR Cuneo Foundation (2.278%)^[2] others (<2% each)
Number of employees	17,718 (2015)
Subsidiaries	Banca Popolare di Ancona Banca Popolare di Bergamo Banca Popolare Commercio e Industria Banca Regionale Europea Banco di Brescia Banca di Valle Camonica Banca Carime IWBank
Capital ratio	12.08% (CET1)
Rating	Moody's
Website	Official website (in Italian & English)
Footnotes / references data in consolidated basis

Unione di Banche Italiane, branded as UBI Banca, is an Italian banking Group, the fifth largest in Italy by number of branches, It was formed on 1 April 2007 from the merger of the Banche Popolari Unite (BPU) and Banca Lombarda e Piemontese banking groups.

UBI Banca shares are listed on the Milan Borsa and are included in the FTSE MIB index.

The bank

The UBI Banca Group was formed on 1 April 2007 from the merger of the BPU Banca Group and the Banca Lombarda Group. The Group operates mainly on the retail market and is present in most regions of Italy, although its focus is primarily on northern Italy. The parent company has its headquarters in Bergamo.

On 20 January 2015 the Council of Ministers issued a decree law which requires banks with assets of greater than €8 billion to transform into joint stock companies. The decree, published on 24 January, was then converted into law with Law No. 33 of 24 March 2015. UBI Banca is one of the banks to which the new legislation applies.

On 10 October 2015, the General Meeting of the Registered Shareholders that met first in extraordinary session in Brescia approved the proposal for transformation of UBI Banca into a joint stock company. ^[3]

The resolution was passed in the presence of 5,032 Registered Shareholders (of which approx. 2,500 physically present), representing 20.91% of the share capital; there were 4,975 votes in favour, representing 20.88% of the share capital or 98.87% of votes cast, 26 votes against and 31 abstentions.

Starting from 12 October 2015, when the transformation resolution was filed with the Bergamo Company Registrar, UBI Banca is S.p. A. (Joint Stock Company) ^[4]

Banche Popolari Unite

BPU Banca was formed by the merger of Banca Popolare di Bergamo – Credito Varesino Group with Banca Popolare Commercio e Industria Group. Their subsidiaries at that time were Banca Popolare di Ancona, Cassa di Risparmio di Fano, Banca Popolare di Luino e di Varese and Banca Carime.

Financial datas

In November 2013, the Comprehensive Assessment carried out by the European Central Bank (ECB) in co-operation with the National Competent Authorities was commenced. This Assessment involved UBI Banca and other 129 European institutions, and came before the introduction of the Single Supervisory Mechanism to which UBI Banca is also subject since 4 November 2014.

According to the results that were made known by ECB on October 26, 2014, UBI Banca passed the Comprehensive Assessment with capital levels above the minimum thresholds required in all scenarios, which confirms the solidity and quality of the Group’s assets, and positions UBI Banca among the best at Italian system level without having to resort to any capital strengthening measures.

UBI Banca data follow:

AQR impact: -44 bit/s: a post-AQR CET1 of 11.82% ^[5]
CET1 ratio in 2016 (inclusive of AQR impact) in the baseline scenario of the stress test: 10.88% (compared with a minimum of 8%)
CET1 ratio in 2016 (inclusive of AQR impact) in the adverse scenario of the stress test: 8.20% (compared with a minimum of 5.5%)

^[6]

The group reported the following ratios at 31December 2015 a common equity tier one capital ratio “phased in” of 12,08%, a Total Capital Ratio “phased in” of 13,93%; regardind liquidity, a liquidity coverage ratio of greater than one and a net stable funding ratio of greater than one, while its Basel 3 financial leverage ratio was 6,00%.

UBI Banca had share capital of €2,254,371,430 on 31 January 2016, consisting of 901,748,572 ordinary shares.

Group structure

The group is composed of the following companies: :

“branch network” banks:
- Banca Popolare di Bergamo, with its headquarters in Bergamo, it has a market presence mainly in Lombardy, in the provinces of Bergamo, Como, Lecco, Monza, Brianza and Varese, but it is also present in the region of Latium
- Banco di Brescia, with its headquarters in Brescia, it has a market presence in Lombardy in the provinces of Brescia and Lodi and also in the regions of Latium, Veneto and Friuli Venezia Giulia
- Banca Popolare Commercio e Industria, with its headquarters in Milan, it has a market presence in Lombardy in the provinces of Milan and Pavia and also in the regions of Emilia Romagna and Latium
- Banca Regionale Europea, with its headquarters in Turin, it has a market presence mainly in Piedmont and in Liguria
- Banca Popolare di Ancona, with its headquarters at Jesi (Ancona), it has a market presence in the regions of the Marches, Emilia Romagna, Umbria, Abruzzo, Molise, Campania and Latium
- Banca Carime, with its headquarters at Cosenza, it has a market presence in the regions of Apulia, Campania, Basilicata and Calabria
- Banca di Valle Camonica, with its headquarters at Breno (Brescia), it has a market presence in Lombardy in the provinces of Brescia, Bergamo, Como and Sondrio
an internet bank that specialises in the management of individual and family investments, IWBank Private Investments
companies which operate in the following:
- salary-backed personal loans: Prestitalia
- asset management: UBI Pramerica
- factoring: UBI Factor
- leasing: UBI Leasing
one service company: UBI Sistemi e Servizi (UBISS)
minority interests
- Lombarda Vita, an insurance company
- Aviva Vita, an insurance company
- Aviva Assicurazioni Vita, an insurance company

Geographic distribution

Despite one of the 5 largest banks of Italy by total assets, the banking network of UBI Banca was only concentrated in the regions which member banks were came from, such as market share of over 15% in Calabria (Banca Carime), between 5 to 15% in Apulia, Basilicata, Campania (Banca Carime and Banca Popolare di Ancona), Marche (Banca Popolare di Ancona), Lombardy (ranked second: Banco di Brescia, Banca Popolare di Bergamo, Banca Popolare Commercio e Industria and Banca di Valle Camonica), Piedmont and Liguria (Banca Regionale Europea). Market share in other regions were below 5% or even below 2%.^[7]

Governance

UBI Banca has adopted a two tier governance system with two boards, a supervisory board and a management board. (pursuant to articles 2409g and following of the Italian Civil Code)

Honorary Chairman: Giuseppe Vigorelli

The Supervisory Board

Chairman Andrea Moltrasio
Senior Deputy Chairman Mario Cera
Board members:
- Armando Santus (Deputy Chairman)
- Alberto Folonari (Deputy Chairman)
- Gian Luigi Gola
- Lorenzo Renato Guerini
- Alfredo Gusmini
- Sergio Pivato
- Mario Mazzoleni
- Federico Manzoni
- Marina Brogi
- Enrico Minelli
- Antonella Bardoni
- Pierpaolo Camadini
- Ester Faia
- Alessandra Del Boca
- Carlo Garavaglia
- Letizia Bellini Cavalletti
- Andrea Cesare Resti
- Marco Giacinto Gallarati
- Maurizio Zucchi
- Dorino Mario Agliardi
- Luca Vittorio Cividini

The Management Board:

Chairman: Franco Polotti
Deputy Chairman: Giorgio Frigeri
Chief Executive Officer and General Manager: Victor Massiah
Board members:
- Silvia Fidanza
- Luciana Gattinoni
- Italo Lucchini
- Flavio Pizzini
- Ettore Medda
- Elvio Sonnino

General Manager: Victor Massiah

Shareholders

Article 120 of the consolidated finance law states that persons holding more than 2% of the share capital in a share issuer which has Italy as its member state of origin must notify this to the company and to the Consob (Italian securities market authority). On the basis of Consob (Italian securities market authority) ^[8] communications, on 24 February 2016 the following investors possessed shareholdings of greater than 2%:

Silchester International Investors (5.123%)
Blackrock Inc. (5,055%)
Fondazione Cassa di Risparmio di Cuneo (2.278%)

References

↑ "2015 Bilancio Consolidato" (PDF) (in Italian). UBI Banca. 11 March 2016. Retrieved 13 March 2016.
↑ "Azionisti rilevanti di UNIONE DI BANCHE ITALIANE SPA" (in Italian). CONSOB. 10 March 2016. Retrieved 13 March 2016.
↑ http://www.ubibanca.it/contenuti/file/comunicato%2010_10_20151.pdf
↑ http://www.ubibanca.it/contenuti/file/Press%20Release%2012102015.pdf
↑ Starting from a pro-forma CET1 as at 1/1/2014 – estimated according to Basel 3 rules and with the application of the comprehensive assessment methodology – of 12.25%
↑ http://www.ubibanca.it/contenuti/file/UBI_2014_10_26_Press%20release.pdf
↑ "Fact Sheet" (PDF). UBI Banca. 30 September 2015. Retrieved 20 April 2016.
↑ "Consob issuers – listed companies (in english)".

External links

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Nationwide and multi-regional banks (Supervised by ECB)	Banca Monte dei Paschi di Siena MPS Capital Services Banco Popolare UBI Banca Banco di Brescia Banca Carime Banca Popolare di Ancona Banca Popolare di Bergamo Banca Popolare Commercio e Industria Banca Regionale Europea Banca di Valle Camonica IWBank Mediobanca Compass Banca Esperia Banca Popolare dell'Emilia Romagna Banco di Sardegna Banca di Sassari Cassa di Risparmio di Bra Cassa di Risparmio di Saluzzo Banca Popolare di Milano Banca Popolare di Mantova Banca Popolare di Vicenza Banca Nuova FarBanca Banca Carige Banca del Monte di Lucca Veneto Banca Banca Apulia Banca Intermobiliare Credito Emiliano Banca Popolare di Sondrio

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others	Istituto Centrale delle Banche Popolari Italiane Banca IFIS Banca Finnat Banca Ubae Banca Leonardo Banca Farmafactoring Unione Fiduciaria Credito Fondiario

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Related topics	List of banks in Italy Associazione Bancaria Italiana Associazione di Fondazioni e di Casse di Risparmio S.p.A. Associazione Nazionale fra le Banche Popolari Fondo Interbancario di Tutela dei Depositi Atlante (private equity fund)

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Poland	Bank BPH SA Narodowy Bank Polski

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Slovenia	Banka Slovenije

Spain	Banco Bilbao Vizcaya Argentaria, S.A. Banco Popular Español, S.A. Banco Sabadell, S.A. Bankinter, S.A. Banco Santander, S.A. CaixaBank, S.A. (La Caixa) Catalunya Banc, S.A. (CatalunyaCaixa) Kutxabank, S.A. ABANCA Corporación Bancaria, S.A. (Abanca) Caja Laboral Popular, Cooperativa de Crédito (Caja Laboral) Banco Cooperativo Español, S.A. (Caja Rural) CECABANK, S.A.

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Non-EU	Bank of China (CHN)

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