Banca delle Marche

trade name

UBI Banca Adriatica Banca Marche (former)

type

subsidiary

former name

Banca delle Marche

predecessor

Cassa di Risparmio della Provincia di Macerata Cassa di Risparmio di Pesaro Cassa di Risparmio di Jesi

fate

became UBI Banca branches

defunct

23 October 2017

foundation

1994 in Ancona (as Banca delle Marche) November 22, 2015 (refound)

hq location

Jesi, Italy (de facto) Bergamo, Italy (registered office)

area served

Marche (216) Lazio (35) Emilia–Romagna (17) Umbria (13) Abruzzo (12) Molise (former)

key people

Osvaldo Ranica (chairman) Alberto Pedroli (CEO)

industry

Financial services

services

Retail and corporate banking

net income year

2016

assets

€12,207.4 million

assets year

2016

equity

€248.0 million

equity year

2016

num employees

2,765

num employees year

2016

num locations

293

num locations year

2016

subsid

Cassa di Risparmio di Loreto

parent

UBI Banca

owner

UBI Banca (100%)

ratio

3.1118% (Group CET1, Dec.2016)

homepage

bancamarche.it

footnotes

in consolidated financial statement‡R1R‡

Banca Adriatica S.p.A. trading as UBI Banca Adriatica and formerly known as Nuova Banca delle Marche S.p.A. was an Italian bank based in Jesi, Marche region. It has operations in several regions in central Italy, but concentrated in Marche region, which 73% of the branches were located in that region as of 2016. The bank was formed on 22 November 2015 by the spin off of the good assets of the original Banca delle Marche S.p.A..

Banca delle Marche was formed in 1994 by the merger of the savings banks of Marche region. The bank faced capital shortfall and was nationalized by Italian National Resolution Fund in 2015 as Nuova Banca delle Marche,[2] with toxic assets of the bank was spin off from the new legal person. The bank was bought by UBI Banca on 18 January 2017 for a nominal fee, renaming to Banca Adriatica. In the same year it was merged into UBI Banca.

Predecessors

The history of the bank could be traded back to some savings banks in Marche region in the town of Jesi (found 1844), in the Province of Macerata (found in 1929 by a merger of savings banks of [old] C.R. Macerata (found 1846), C.R. Camerino (found 1844), C.R. Recanati (found 1867) and C.R. Tolentino (found 1873)[3]) and in the town of Pesaro (found in 1841).

History

Banca delle Marche was founded in 1994 by the merging of two banks: Cassa di Risparmio della Provincia di Macerata (C.R. Macerata) and Cassa di Risparmio di Pesaro (C.R. Pesaro); Cassa di Risparmio di Jesi (C.R. 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),[5] which Cariplo was a minority shareholder of CR Jesi in 1992;[6] Cariplo's stake was diluted to 4.60% in 2001,[7] then the stake was sold by Banca Intesa, the successor of Cariplo to Banca delle Marche as treasury shares in 2002, for €45 million.[8]

In 1997 Banca delle Marche acquired a controlling interest in Cassa di Risparmio di Loreto and Mediocredito Fondiario Centroitalia (Banca Marche owned 41.18% shares before the deal), 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 forma 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%).[9][10]

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.[11] However, the foundations did not excise the option. In 2007 the shares held by Sanpaolo IMI was transferred to Intesa Sanpaolo after a merger with Banca Intesa. Intesa Sanpaolo did not take part in the capital increase of Banca delle Marche in 2012, making the stake diluted.

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.[12] After the capital increase (of €179,573,391[13]), 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.[14] According to a ranking by Ricerche e Studi, a subsidiary of Mediobanca, Banca delle Marche was the 19th largest bank in Italy by total assets as at 31 December 2012.[15]

On 15 October 2013 it was under special administration (A.S.) by a decree of the Ministry of Economy and Finance, after a temporary administration by the Bank of Italy in August.[16]

Predecessors

History

Insolvency

Shareholders

Subsidiaries

Sponsorship

See also

External links

References

Nuova Banca Marche / Banca Adriatica