Istituto Bancario San Paolo di Torino S.p.A., commonly known as just San Paolo, was an Italian bank. It was headquartered in Turin, Piedmont. The bank is the predecessor of Sanpaolo IMI, as well as the current largest bank in Italy in terms of total assets, Intesa Sanpaolo. The former owner of San Paolo bank, Compagnia di San Paolo, still significantly owned Intesa Sanpaolo. In 1998 the bank merged with Istituto Mobiliare Italiano to form Sanpaolo IMI.
 | |
| Company type | private |
|---|---|
| Industry | Financial services |
| Founded | 1563 |
| Defunct | 1998 |
| Successor | Sanpaolo IMI |
| Headquarters | Turin , Italy |
| Services |
|
| Owner | Compagnia di San Paolo |
History
editThe bank was founded by Compagnia di San Paolo (a brotherhood) in 1563.[1] In early years the bank was a mount of piety. By the late 19th-century, it was state-controlled.[2]: 89
In 1991 Crediop became a subsidiary of the bank,[3] which was sold to Dexia in 1999 by Sanpaolo IMI, the successor of the bank.
In 1991, due to Legge Amato, the bank was transformed from a statutory corporation to a società per azioni (company limited by shares), which San Paolo Bank Holding S.p.A. and Istituto Bancario San Paolo di Torino S.p.A. were created. Compagnia di San Paolo remained as the major shareholders.[4] In 1997 the brotherhood owned 20.54% of the bank, followed by Banco Santander (6.8%), Istituto Mobiliare Italiano (5%) and others.[5]
In 1994 the bank absorbed Banca Provinciale Lombarda and Banco Lariano.[6] In 1995 Sanpaolo absorbed Banca Nazionale delle Comunicazioni.[7]
According to Ricerche e Studi, a subsidiary of Mediobanca, the bank was ranked second in terms of client deposits in 1997, behind Banca Intesa (pro forma data).[8] In 1998 the bank merged with Istituto Mobiliare Italiano to form Sanpaolo IMI.
Former shareholders of Sanpaolo received about 55.3% shares of the new company (or 775,184,948).[9] Compagnia di San Paolo would own 16.4%.[5]
References
edit- ^ "Istituto Bancario San Paolo di Torino" (in Italian). Intesa Sanpaolo. 16 December 2010. Retrieved 14 April 2016.
- ^ Leonardo Giani (2008), "Ownership and control of Italian banks: A short inquiry into the roots of the current context" (PDF), Corporate Ownership & Control (6(1)): 87–98
- ^ "TENSIONE AL SAN PAOLO SUL PREZZO DEL CREDIOP ' NON SI PUO' COMPRARE AD". La Repubblica (in Italian). 20 September 1991. Retrieved 20 February 2016.
- ^ Ministry of the Treasury (13 November 1991). "Approvazione del progetto di ristrutturazione presentato dall'Istituto bancario San Paolo di Torino" (in Italian). Italian Republic Official Gazette. Retrieved 14 April 2016.
- ^ a b "Provvedimento N°6274 (C3141): Istituto Bancario San Paolo di Torino / Istituto Mobiliare Italiano" (PDF) (in Italian). Autorità Garante della Concorrenza e del Mercato (AGCM). 31 July 1998. Archived from the original (PDF) on 22 October 2016. Retrieved 14 April 2016.
- ^ Istituto Bancario San Paolo di Torino / Banca Provinciale Lombarda / Banco Lariano (19 January 1994). "Estratto dell'atto di fusione per incorporazione della Banca Provinciale Lombarda S.p.a. e del Banco Lariano S.p.a. nell'Istituto Bancario San Paolo di Torino S.p.a. a rogito notaio Ettore Morone in data 20 dicembre 1993" (in Italian). Italian Republic Official Gazette. Retrieved 14 April 2016.
- ^ "Intesa Sanpaolo - Mappa storica Italia".
- ^ page 526,"Le principali societa 1998" (PDF) (in Italian). Mediobanca. 1998. Retrieved 14 April 2016.
- ^ Istituto Bancario San Paolo di Torino / Istituto Mobiliare Italiano (24 June 1998). "Estratto del progetto di fusione per incorporazione dell'IMI nell'Istituto Bancario San Paolo di Torino" (in Italian). Italian Republic Official Gazette.