UniCredit Banca Mediocredito

UniCredit Banca Mediocredito S.p.A. (UBMC) was an Italian commercial bank. The bank was dismantled on 31 December 2015, but the bank license was retained, which became 2S Banca, a company that specialized in securities service activities. On 4 October 2006 2S Banca was sold to Société Générale Security Services, a subsidiary of Société Générale for €579.3 million.[1]

For another former UniCredit subsidiary, see Banca del Mezzogiorno – MedioCredito Centrale.
UniCredit Banca Mediocredito
Native name
UniCredit Banca Mediocredito S.p.A.
Formerly
  • Mediocredito Piemontese
  • Banca Mediocredito
Typesubsidiary of a listed company
IndustryFinancial services
Defunct31 December 2005 (2005-12-31)
Successor
  • UniCredit Banca d'Impresa
  • UniCredit Infrastrutture
  • UniCredit Real Estate
  • 2S Banca
Headquarters
Turin
,
Italy
ServicesCommercial banking
Increase €31 million (2004)
Total assetsDecrease €5.132 billion (2004)
Total equityIncrease €406.992 million (2004)
OwnerUniCredit (95.96%)
ParentUniCredit
Footnotes / references
2004 data

History

Mediocredito Piemontese was found as a statutory corporation (Italian: ente di diritto pubblico). Due to Legge Amato, the bank became a limited company (Italian: società per azioni) in 1992.[2] At that time the bank was already a subsidiary of Cassa di Risparmio di Torino (Banca CRT),[3] which Banca Popolare di Novara (BPN) also owned a reported 32.85% capital of the bank in 1990.[4] (disinvested to 10% share capital as at 31 December 2000)[5] The bank was also renamed into Banca Mediocredito S.p.A. in the 1990s.

In 1997 Mediocredito followed the parent company to join Unicredito, which was merged with Credito Italiano to form UniCredito Italiano in 1998 (UniCredit). As at 31 December 2000, Banca CRT owned 63.26% shares of Banca Mediocredito, as well as Cariverona owned 0.20% shares, making UniCredit controlled 63.46% shares of Banca Mediocredito (despite UniCredit did not own the 0.25% minority interests of Cariverona).[6] In 2001 UniCredit acquired 10% shares of Mediocredito from BPN, as well as an additional 0.63% from other companies.[7] In 2002 UniCredit acquired the minority interests of the Mediocredito from Cassa di Risparmio di Biella e Vercelli (6.063% for €20.354 million),[8] Banca Lombarda e Piemontese (5.83% for €19.569 million),[9] Banca Carige (1.755% for €6.23 million),[10] Sanpaolo IMI (1.11%), Banca Intesa (0.27%), Cassa di Risparmio di Savona (0.25% for €0.873 million),[10] Carispezia (0.11%) and other companies; as a result UniCredit owned 92.23% shares of Mediocredito directly as at 31 December 2002, also due to Banca CRT and Cariverona were absorbed into UniCredit. An additional 3.73% shares was acquired during year 2004 and 3.94% during 2005.

A sister company, Mediovenezie Banca (of Cariverona Banca), was restructured to become UniCredito Gestione Crediti in 2002; in 2003 Banca Mediocredito was also renamed to UniCredit Banca Mediocredito.

The company was restructured on 31 December 2005 which its business were transferred to UniCredit Banca d'Impresa (medium-to-long term financing and special loans), UniCredit Infrastrutture (project finance), UniCredit Real Estate (real estate), UniCredit Sistemi Informativi (Information Technology) and UniCredit Produzioni Accentrate (back office). The bank license was retained and the company was transformed into 2S Banca.[11]

References
  1. "UniCredit: Closing of the 2S Banca sale to SocGen". UniCredit. 4 October 2006. Retrieved 4 April 2016.
  2. Ministry of Treasury (16 July 1992). "Approvazione del progetto di ristrutturazione presentato dal Mediocredito piemontese" (in Italian). Italian Republic Official Gazette. Retrieved 10 March 2016.
  3. "Mediocredito piemontese : 1993 positivo nonostante la crisi" (in Italian). Agenzia Giornalistica Italia. 28 January 1994. Retrieved 10 March 2016.
  4. Whiteside, R.M. (2012) [1991]. Major Companies of Europe 1991-1992. Vol. 1 (11th ed.). Graham & Trotman. ISBN 1853335983.
  5. "2000 Bilancio" (PDF). Banca Popolare di Novara (in Italian). Borsa Italiana archive. 6 June 2001. Retrieved 10 March 2016.
  6. "2000 Bilancio Consolidato" (PDF). UniCredit (in Italian). Borsa Italiana archive. 18 May 2001. Retrieved 16 February 2016.
  7. "2001 Bilancio Consolidato" (PDF). UniCredit (in Italian). Borsa Italiana archive. 30 April 2002. Retrieved 28 February 2016.
  8. "2002 Bilancio: Nota integrativa" (PDF) (in Italian). Cassa di Risparmio di Biella e Vercelli. 28 May 2003. Archived from the original (PDF) on 9 May 2006. Retrieved 11 March 2016.
  9. "2002 Bilancio Consolidato" (PDF) (in Italian). Banca Lombarda e Piemontese. 16 May 2003. Retrieved 11 March 2016.
  10. "2002 Bilancio" (PDF) (in Italian). Banca Carige. 13 March 2003. Retrieved 11 March 2016.
  11. "2005 Consolidated Report and Accounts" (PDF). UniCredit. 28 April 2006. Retrieved 10 March 2016.
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