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Unione di Banche Italiane ScpA
Type Public (BIT: UBI)
Founded 2007
Headquarters Bergamo, Italy
Key people Victor Massiah (CEO), Emilio Zanetti (Chairman of the board)
Industry Financial services
Products Retail banking, insurance, asset management
Operating income €1.478 billion (2008)[1]
Profit €69.0 million (2008)[1]
Total assets €122.0 billion (2008)[1]
Employees 20,690 (2008)[1]
Website www.ubibanca.it

Unione di Banche Italiane S.c.p.A., branded as UBI Banca (BIT: UBI), is the fifth-largest banking group in Italy by both market capitalisation and number of branches.[2][3] 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.

Operations

UBI Banca is principally involved in retail banking, which makes up over three-quarters of its total revenues.[4] At the end of March 2009, the group held 1,965 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 Banca di Brescia, are headquartered) and Piedmont.[5] The group also has a significant presence in the South of Italy though Banca Carime, which has over 300 branches across Apulia, Calabria, Campania and Basilicata.[5]

The firm also owns a controlling interest in IWBank, a provider of online banking and trading.[6] The stake sat at over 80% at the end of March 2009.[7]

References

  1. ^ a b c d "Annual Report 2008". UBI Banca. http://www.ubibanca.it/contenuti/RigAlle/UBI_Banca_Group_Consolidated_FY20081.pdf. Retrieved 2009-09-05.  
  2. ^ Tutt, Nigel (18 February 2009). "UBI Banca says Core Tier 1 in 6.75-7 pct range". Reuters. http://uk.reuters.com/article/idUKLI55928120090218?sp=true. Retrieved 2009-09-05.  
  3. ^ Jewkes, Stephen; Simpson, Ian (17 April 2009). "Italy's UBI Banca should see Q1 profit-chairman". Reuters. http://www.reuters.com/article/rbssBanks/idUSLH64969020090417. Retrieved 2009-09-05.  
  4. ^ "About us". UBI Banca. http://www.ubibanca.it/pagine/About-us-EN-2.aspx. Retrieved 2009-09-05.  
  5. ^ a b "UBI Banca Group: branch network". UBI Banca. 31 March 2009. http://www.ubibanca.it/contenuti/photogallery/OurNetworkP006/UK.jpg. Retrieved 2009-09-05.  
  6. ^ Tutt, Nigel (4 March 2009). "UBI Banca buys 32.4 pct of IW Bank in online deal". Reuters (Forbes). http://www.forbes.com/feeds/afx/2009/03/04/afx6126373.html. Retrieved 2009-09-05.  
  7. ^ "UBI Banca Group: principal investments as at 31st March 2009". UBI Banca. 31 March 2009. http://www.ubibanca.it/contenuti/RigAlle/Gruppo%20partec%20UK2.pdf. Retrieved 2009-09-05.  

External links

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