Interbanca

From Wikipedia, the free encyclopedia

Interbanka is an Italian merchant bank that specializes in lending and financing transactions for medium-sized firms. Its headquarters are in Milan and it has 10 branches in major cities throughout Italy. From October 2007 to March 2008, its owner was Spain's Banco Santander. The new owner is GE Commercial Finance.

Originally founded in 1961 by a consortium of banks comprising Banco Ambrosiano, Banca d'America e d'Italia, and Banca Nazionale dell'Agricoltura, in 1997 it came under the control of Banca Antonveneta, which in 1999 acquired Banca Nazionale dell'Agricoltura. In June 1999, its parent listed Interbanka on the stock exchange, but then in February 2003 wholly acquired it.

In 2006, ABN AMRO acquired Antonveneta, only to be itself acquired by a consortium consisting of Royal Bank of Scotland, Fortis, and Banco Santander. Banco Santander took control of Antonveneta in October 2007 and sold it on to Monte dei Paschi di Siena in November at a 36% premium over the valuation for the acquisition. Although Banco Santander had sold Antonveneta, it retained Interbanka for the time being.

In March 2008, Banco Santander sold Interbanka to GE Commercial Finance, receiving in return GE Money businesses in Germany, Finland and Austria, and GE's Card and Auto Financing Businesses in the UK.