UBI Banca

Unione di Banche Italiane S.c.p.A.
Società cooperativa per azioni (cooperative limited by shares)
Public company
Traded as BIT: UBI
Industry Financial services
Founded 2007
Headquarters Bergamo, Italy
Key people
 Victor Massiah (CEO),
Franco Polotti (Chairman of the management board),
Andrea Moltrasio (Chairman of the supervisory board)
Products Retail banking, insurance, asset management
Number of employees
 18,132 (2014)
Subsidiaries 1,560 (2015)
Website www.ubibanca.it

Unione di Banche Italiane S.c.p.A., branded as UBI Banca, is an Italian banking Group, the fifth largest in Italy by number of branches, It was formed on 1 April 2007 from the merger of the Banche Popolari Italiane (BPU) and Banca Lombarda (BL) banking groups.

UBI Banca shares are listed on the Milan Borsa and are included in the FTSE MIB index.

The bank

The UBI Banca Group was formed on 1 April 2007 from the merger of the BPU Banca Group and the Banca Lombarda Group. The Group operates mainly on the retail market and is present in most regions of Italy, although its focus is primarily on northern Italy.

The Group has adopted a two tier system of management and oversight (pursuant to articles 2409g and following of the Italian Civil Code) with two boards, a supervisory board and a management board.

The parent company has a co-operative articles of association with headquarters in Bergamo. UBI Banca had share capital of €2,254,371,430 on 31 December 2014, consisting of 901,748,572 ordinary shares.

Current legislation on Italian ‘popular’ co-operative banks (article 30 of the consolidated banking law) limits the percentage interest of the share capital that may be owned by both registered and unregistered shareholders to 1% of the share capital.[1] A reference to this is made in article 18 of this bank’s articles of association.[2] This limit on the size of shareholdings does not apply to collective investment companies, which are subject to the limits laid down in their own rules. Each registered shareholder can cast only one vote, regardless of the number of shares held.

Article 120 of the consolidated finance law states that persons holding more than 2% of the share capital in a share issuer which has Italy as its member state of origin must notify this to the company and to the Consob (Italian securities market authority). On the basis of Consob (Italian securities market authority) [3] communications, on 5 March 2015 the following investors possessed shareholdings of greater than 2%:

In November 2013, the Comprehensive Assessment carried out by the European Central Bank (ECB) in co-operation with the National Competent Authorities was commenced. This Assessment involved UBI Banca and other 129 European institutions, and came before the introduction of the Single Supervisory Mechanism to which UBI Banca is also subject since 4th November 2014.

According to the results that were made known by ECB on October 26th, UBI Banca passed the Comprehensive Assessment with capital levels above the minimum thresholds required in all scenarios, which confirms the solidity and quality of the Group’s assets, and positions UBI Banca among the best at Italian system level without having to resort to any capital strengthening measures.

UBI Banca data follow:

[5]

The group reported the following ratios at 31 December 2014 a common equity tier one capital ratio of 12.33%, a Tier 1 of 12,33%, a Total Capital Ratio of 15,28%; regardind liquidity, a liquidity coverage ratio of greater than one and a net stable funding ratio of greater than one, while its Basel 3 financial leverage ratio was 5.78%.

Group structure

The group is composed of the following companies: :

Governance

UBI Banca has adopted a two tier governance system with two boards, a supervisory board and a management board.

The Supervisory Board

The Management Board:

General Manager: Francesco Iorio Honorary Chairman: Giuseppe Vigorelli


References

  1. ↑ "decreto-legge 18 ottobre 2012, n. 179; art. 23-quater" (PDF).
  2. ↑ "Articles of association (in English)" (PDF).
  3. ↑ "Consob issuers – listed companies (in english)".
  4. ↑ Starting from a pro-forma CET1 as at 1/1/2014 – estimated according to Basel 3 rules and with the application of the comprehensive assessment methodology – of 12.25%
  5. ↑ http://www.ubibanca.it/contenuti/file/UBI_2014_10_26_Press%20release.pdf

External links