Banca Popolare Commercio e Industria

Banca Popolare Commercio e Industria S.p.A. (BPCI) was an Italian bank based in Milan, Lombardy. Found in 1888, the bank absorbed other banks in the 20th century, as well as forming bank group with other banks in the first decade of the 21st century. However, in late 2016 the bank was absorbed by parent company UBI Banca, becoming a defunct brand.

Banca Popolare Commercio e Industria
FormerlyAnonima della Seta
Typesubsidiary of a listed company
IndustryFinancial services
Fateabsorbed by the parent company
Founded1888
Defunct2016
Headquarters33 via Moscova,
Milan
,
Italy
Area served
Lombardy, Emilia-Romagna, Lazio and Tuscany
€35,842,746 (2014)
Total assets €9,314,243,576 (2014)
Total equity €1,204,580,860 (2014)
OwnerUBI Banca (83.7631%)[1]
ParentUBI Banca
Capital ratio19.11% (Tier 1)[2]

As of 31 December 2014 BPCI had 196 branches, 148 of them in Lombardy, followed by 27 in Emilia-Romagna, 20 in Lazio and 1 in Tuscany.

History

In 2010 Banca Popolare Commercio e Industria sold 87 branches to sister companies, as well as acquired 134 branches. Moreover, Banca Regionale Europea (BRE), formed by a merger of Lombard and Piedmontese bank (Banca del Monte di Lombardia and Cassa di Risparmio di Cuneo), retained only one branch in Lombardy. One of the minority owner of BRE, the banking foundation of Banca del Monte di Lombardia, acquired the shares of BPCI from UBI Banca, at the same time sold all the shares of BRE to UBI Banca. As of 31 December 2010 UBI Banca owned 75.077% shares of BPCI, followed by the banking foundation (16.237%) and Aviva S.p.A. (8.686%).[3] Before the transaction, Aviva held 16.64% and the rest by UBI Banca.[4]

Timeline

References
  1. https://www.ubibanca.it/contenuti/RigAlle/Gruppo%20UBI%20Banca_Bilancio%20Consolidato%2020141.pdf
  2. https://www.ubibanca.com/1406046610766/BPCI_BILANCIO_31_12_2014_versione_stampa.pdf?blobheadername1=Content-Disposition&blobheadervalue1=inline;%20filename=BPCI_BILANCIO_31_12_2014_versione_stampa.pdf
  3. https://www.ubibanca.com/1406041938155/bpci_bilancio_2010.pdf?blobheadername1=Content-Disposition&blobheadervalue1=inline;%20filename=bpci_bilancio_2010.pdf
  4. https://www.ubibanca.com/1406041938131/bpci_bilancio_2009.pdf?blobheadername1=Content-Disposition&blobheadervalue1=inline;%20filename=bpci_bilancio_2009.pdf
  5. "UBI Banca sells its property located at 33 via Moscova (the former headquarters of Banca Popolare Commercio e Industria) to Sericon Investment Fund" (PDF). UBI Banca. 6 December 2016. Retrieved 11 December 2016.
  • archive at Borsa Italiana (in Italian)
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