Banca Popolare di Milano

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Banca Popolare di Milano Società Cooperativa a r.l.

Type	Cooperative banking
Founded	1865
Headquarters	Milano, Italy
Key people	Roberto Mazzotta, President Fabrizio Viola, General Manager Antonio Colli Contractual Political Manager
Industry	Bank
Employees	8,378 (2005)
Subsidiaries	Banca di Legnano, Cassa di Risparmio di Alessandria, Banca Akros
Website	www.bpm.it

Banca Popolare di Milano (BIT: PMI) is an Italian cooperative bank.

[edit] History

The first cooperative bank in Italy, it was founded in 1865 in Milan by Luigi Luzzatti, who later served as the nation's Prime Minister. Luzzatti drew his inspiration from the 'credit associations' developed by Hermann Schulze-Delitzsch in Germany a decade earlier.^[1]

BPM has grown considerably since the 1950s by buying interests in other banks such as Banca Popolare di Roma, la Banca Briantea, Banca Agricola Milanese, Banca Popolare Cooperativa Vogherese, Banca Popolare di Bologna e Ferrara, Banca Popolare di Apricena, Ina Banca, Cassa di Risparmio di Alessandria and Banca di Legnano.

[edit] BPM Today

BPM now employs about 8,000 people in 702 branches and it has about 1,4 million customers^[2]. The bank works basically in the northern and central regions of Italy, with a strong presence in Lombardia and Lazio, but also in Puglia.

The bank's market capitalisation is €5 billion^[3] at February 2007, making Banca Popolare di Milano the 10th largest financial group by market value in Italy.

[edit] Notes

^ Henry W. Wolff. People's Banks. P.S. King & Son, London, 1910, pp. 254-319.
^ 8,378 employees, 702 branches and 1,430,100 customers, source: "Bilancio sociale del gruppo Bipiemme" ("Social Balance of Bipiemme Group") 2005
^ Source: Borsa Valori (Italian Stock Exchange) [1] in February 16, 2007