BPER Banca

BPER Banca is an Italian banking group headquartered in Modena. Its institutional history traces back to Banca Popolare di Modena, founded in 1867, although the present regional banking group was created through the 1983 merger of Banca Popolare di Modena and Banca Cooperativa di Bologna. The group expanded through a long series of combinations, acquisitions and minority investments involving Italian cooperative banks and savings banks, gradually developing from an Emilia-Romagna institution into a nationally distributed banking network. The bank serves individuals, families, small and medium-sized enterprises, larger companies, institutional and public-sector customers. Its activities include current accounts and payment services, deposits, consumer and residential lending, mortgages, insurance and investment products, asset management, private banking, corporate finance, investment banking and services for public entities. Through subsidiaries and investee companies, the group has also maintained interests in areas such as factoring, asset management and regional banking. BPER's expansion accelerated from the 1990s through the 2010s, when it absorbed or took stakes in numerous provincial banks and savings institutions. Important transactions included the acquisition of interests in banks in Piedmont, the purchase of additional control of Cassa di Risparmio di Bra, the acquisition of Cassa di Risparmio di Saluzzo, the purchase of Nuova Cassa di Risparmio di Ferrara for a nominal consideration in 2017, and the acquisition and subsequent integration of Unipol Banca in 2019. In 2020, BPER agreed to acquire 532 branches from Intesa Sanpaolo as part of the regulatory remedies associated with Intesa Sanpaolo's acquisition of UBI Banca. The transaction materially strengthened BPER's national footprint. The group has also been involved in the restructuring of the Italian banking sector. In 2015, legislation required large cooperative banks exceeding the statutory asset threshold to convert into joint-stock companies. BPER completed its re-incorporation as BPER Banca S.p.A. in 2016. The bank addressed credit-quality pressures during the Italian non-performing-loan crisis, including a 2016 sale of a portfolio of doubtful loans to specialist investment funds. Since the beginning of European Banking Supervision, BPER has been classified as a significant institution and is directly supervised by the European Central Bank. BPER entered a further consolidation phase with the acquisition of Banca Carige in 2022. In 2025 it launched a takeover bid for Banca Popolare di Sondrio, subsequently obtaining a controlling stake according to the supplied reference material. The boards of the two banks later approved a merger by absorption, reported in the reference material as completed in April 2026. BPER is listed on the Italian stock exchange and is included in the FTSE MIB index. Its branch network has historically covered most Italian regions, with the cited reference noting an absence of branches in Aosta Valley and Friuli-Venezia Giulia. The brand is positioned as a broad Italian banking platform combining traditional relationship banking with corporate, wealth and capital-markets capabilities.

BPER's oldest institutional predecessor was Banca Popolare di Modena, established in 1867. The modern group began to take shape on 29 December 1983, when Banca Popolare di Modena merged with Banca Cooperativa di Bologna to form Banca Popolare dell'Emilia. On 1 May 1992, the institution merged with Banca Popolare di Cesena and adopted the name Banca Popolare dell'Emilia Romagna. This combination provided the basis for a long period of expansion beyond its original Emilia-Romagna base. From the 1990s through the 2010s, BPER grew by acquiring or absorbing local cooperative banks and savings banks. The group built a portfolio of regional institutions across several parts of Italy, including banks in Campania, Calabria, Puglia, Abruzzo, Sardinia and Piedmont. It also developed minority and majority positions in savings banks such as Cassa di Risparmio di Bra, Cassa di Risparmio di Fossano, Cassa di Risparmio di Saluzzo and Banca Cassa di Risparmio di Savigliano. In 2005, Cassa di Risparmio di Vignola was privatized, while in 2006 BPER acquired minority interests in a number of Piedmontese savings institutions from UniCredit. BPER increased its holding in Cassa di Risparmio di Bra in 2013 and acquired control of Cassa di Risparmio di Saluzzo in 2016. The group also participated in the cleanup of Italian bank balance sheets during the country's non-performing-loan crisis. On 14 July 2016 it sold a portfolio of doubtful loans with a gross value of €450 million to Algebris NPL Fund and Cerberus European Investments on a non-recourse basis. This followed a period in which BPER Group reported a high gross non-performing-loan ratio relative to its total lending. Italian banking reform required large cooperative banks to convert from cooperative societies into joint-stock companies. BPER was affected by the 2015 reform because its assets exceeded the relevant threshold. The institution was re-incorporated as BPER Banca S.p.A. in late 2016. The conversion changed the legal framework for voting and ownership from the cooperative one-member-one-vote model to a share-based system. The next phase involved distressed-bank consolidation. In March 2017 BPER signed an agreement to acquire Nuova Cassa di Risparmio di Ferrara for a nominal €1, completing the transaction in June. In 2019 it agreed to buy Unipol Banca from Unipol and UnipolSai. The acquisition closed in July 2019, and Unipol Banca was merged into BPER on 25 November 2019. In 2020 BPER agreed to acquire 532 branches from Intesa Sanpaolo. The branch transfer was a regulatory remedy linked to Intesa Sanpaolo's acquisition of UBI Banca and substantially expanded BPER's distribution network. In February 2022 BPER acquired Banca Carige, extending the group's consolidation strategy. In 2025 BPER launched a takeover bid for Banca Popolare di Sondrio. The supplied reference material states that BPER obtained majority control in July 2025, raised its stake to 80.69% by the end of that month, and subsequently approved a merger by absorption with completion reported for April 2026. Today, BPER presents itself as a full-service Italian banking group. It remains headquartered in Modena, is listed under the ticker BPE and is included in the FTSE MIB. It is classified as a significant institution under European Banking Supervision and is directly supervised by the European Central Bank. Its business combines retail and branch banking with services for enterprises, public entities, investors and affluent customers.

1. 2025Takeover bid for Banca Popolare di Sondrio

   BPER launched a takeover bid and, according to the supplied reference, later obtained control of Banca Popolare di Sondrio.

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2. 2022Banca Carige acquired

   BPER acquired Banca Carige, adding another major transaction to its Italian consolidation strategy.

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3. 2020Branch network expanded through Intesa Sanpaolo transaction

   BPER agreed to acquire 532 branches being divested by Intesa Sanpaolo for regulatory reasons.

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4. 2019Unipol Banca integrated

   BPER completed its acquisition of Unipol Banca and merged the subsidiary into the group in November.

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5. 2017Nuova Cassa di Risparmio di Ferrara acquired

   BPER agreed to acquire the bank for a nominal consideration and completed the transaction in June.

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6. 2016Conversion into BPER Banca S.p.A.

   The bank completed its conversion from a cooperative society into a joint-stock company under Italian banking reform.

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7. 2013Control of Cassa di Risparmio di Bra increases

   BPER acquired an additional 35.98% of CR Bra, taking its holding to 67%.

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8. 2006Piedmontese savings-bank interests acquired

   BPER acquired minority positions in Cassa di Risparmio di Bra, Fossano, Saluzzo and Savigliano from UniCredit.

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9. 1992Merger with Banca Popolare di Cesena

   The merger formed Banca Popolare dell'Emilia Romagna and supported the group's regional expansion.

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10. 1983Banca Popolare dell'Emilia is created

    Banca Popolare di Modena merged with Banca Cooperativa di Bologna on 29 December.

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11. 1867Banca Popolare di Modena is founded

    The institution that later became part of BPER's historical lineage was established in Modena.

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A diversified Italian banking group combining regional relationship banking with nationwide retail, corporate, wealth-management and investment-banking services.

• Retail bankingConsumer banking

  BPER provides individuals and families with current accounts, cards, deposits, payment services, personal loans, mortgages, consumer credit and related protection products through its branch and digital channels.

• Business and corporate bankingCommercial banking

  The group finances small and medium-sized enterprises, larger companies and entrepreneurs through working-capital facilities, lending, transaction banking, cash management, trade-related services and broader corporate-finance solutions.

• Private banking and wealth managementWealth management

  BPER offers affluent and private-banking customers investment, advisory, portfolio and wealth-planning services, supported by the group's investment-product and asset-management capabilities.

• Investment and public-sector bankingInstitutional banking

  The group serves institutional and public entities and provides corporate and investment-banking capabilities, including financing and capital-markets-related services where applicable.

• Asset managementAsset management

  BPER has maintained a significant interest in ARCA SGR, giving the group exposure to professionally managed investment products and asset-management activities.

• 2025Takeover bid for Banca Popolare di SondrioM&A

  BPER pursued further consolidation among Italian listed banks.

  What changed. BPER launched a takeover bid for Banca Popolare di Sondrio and subsequently obtained a controlling stake according to the supplied reference material.

  Aftermath. The reported increase of BPER's stake led to board approval of a merger by absorption, with completion reported in April 2026 in the supplied material.

  Reported takeover-bid value. (February 2025)

  Source
• 2022Acquisition of Banca CarigeM&A

  The deal formed part of the continuing consolidation of Italy's banking sector.

  What changed. BPER acquired Banca Carige in February 2022.

  Aftermath. BPER expanded its scale and geographic reach through the addition of Carige's banking operations.

  Source
• 2020Acquisition of 532 Intesa Sanpaolo branchesM&A

  Intesa Sanpaolo was required to dispose of branches after acquiring UBI Banca.

  What changed. BPER agreed to acquire 532 branches from Intesa Sanpaolo.

  Aftermath. The transaction strengthened BPER's national branch presence and supported its transition from a primarily regional bank to a broader Italian network.

  Source
• 2019Acquisition and integration of Unipol BancaM&A

  BPER sought to expand its banking operations through the acquisition of a complementary Italian bank.

  What changed. BPER acquired Unipol Banca from Unipol and UnipolSai and incorporated it into BPER Banca on 25 November.

  Aftermath. The integration consolidated the acquired business within BPER's operating structure.

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• 2017Acquisition of Nuova Cassa di Risparmio di FerraraM&A

  The transaction occurred during the restructuring and consolidation of troubled Italian banks.

  What changed. BPER agreed to acquire Nuova Cassa di Risparmio di Ferrara for a nominal €1 and completed the deal in June.

  Aftermath. The acquisition expanded BPER's presence in the Italian banking market.

  Reported purchase consideration. (2017)

  Source
• 2016Sale of doubtful-loan portfolioStrategy

  BPER was operating during an Italian banking-sector crisis characterized by elevated non-performing loans.

  What changed. The group sold doubtful loans with a gross value of €450 million to Algebris NPL Fund and Cerberus European Investments on a non-recourse basis.

  Aftermath. The transaction formed part of the group's efforts to reduce problematic credit exposure and manage balance-sheet quality.

  Gross value of doubtful loans sold. (14 July 2016)

  Source
• 2016Conversion from cooperative society to joint-stock companyStrategy

  Italian Decree-Law No. 3 of 2015 required banks above the applicable asset threshold to change their cooperative legal form.

  What changed. BPER was re-incorporated as BPER Banca S.p.A., replacing the cooperative structure with a joint-stock-company framework.

  Aftermath. The conversion changed the ownership and voting model and aligned the bank with the reformed legal regime.

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• 2025BPER launches takeover bid for Banca Popolare di Sondrio

  BPER launched a takeover bid valued at approximately €4.3 billion for Banca Popolare di Sondrio.

  M&A
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• 2025BPER obtains control of Banca Popolare di Sondrio

  According to the supplied reference material, BPER held a majority stake in July 2025 and increased its holding to 80.69% by the end of that month.

  M&A
  Source
• 2025Boards approve merger of Banca Popolare di Sondrio into BPER Banca

  The boards of BPER Banca and Banca Popolare di Sondrio approved a merger by absorption, reported in the supplied material as completed in April 2026.

  M&A
  Source
• 2022BPER Banca acquires Banca Carige

  BPER acquired Banca Carige as part of the continuing consolidation of Italy's banking sector.

  M&A
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• 2020BPER agrees to acquire 532 branches from Intesa Sanpaolo

  BPER entered an agreement to acquire branches that Intesa Sanpaolo was required to divest following its acquisition of UBI Banca.

  M&A
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• 2019BPER Banca agrees to acquire Unipol Banca

  BPER announced and completed the acquisition of Unipol Banca, which was subsequently incorporated into BPER Banca.

  M&A
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• 2017BPER Banca completes the acquisition of Nuova Cassa di Risparmio di Ferrara

  BPER completed the acquisition of Nuova Cassa di Risparmio di Ferrara after agreeing to purchase the bank for a nominal consideration.

  M&A
  Source

1. BPER Banca
2. BPER Banca official website