Intesa Sanpaolo S.p.A.

  • Overview

THE SCOOP
The big Italian

Italy's largest banking group Intesa Sanpaolo is the fruit of the 2007 merger between then-major Italian banks Banca Intesa and Sanpaolo IMI. With strong names and impressive market share, the newly created entity immediately established itself as a force to be reckoned with, gaining a market-leading position in Italy, as well as a mighty presence outside its home market in Eastern Europe and the countries of the Mediterranean basin.

Leading up to the 2007 merger, Sanpaolo IMI group's Central and Eastern European business encompassed significant subsidiaries in Albania, Croatia, Russia, Serbia, Slovakia, Slovenia and the Ukraine. The group also had a foot in the Middle East, with its subsidiary in Egypt, the Bank of Alexandria.

Intesa Sanpaolo has six key areas of business: public finance; corporate and investment banking, which has 53 offices and is responsible for corporate customers and financial institutions; Banca dei Territorial, its domestic commercial banking business that serves a customer base of more than 11.2 million customers, and is responsible for retail customers, private customers and SMEs; international subsidiary banks division, which boasts 8.4 million customers across 13 countries with 1,900 branches; Eurizon Capital, a leading company in Italy with approximately €145 billion in assets under management; and Banca Fideuram, a leading Italian financial advisory firm with 4,255 private bankers and 97 domestic branches.

The Banca Intesa and Sanpaolo merger in January 2007 created the third-largest banking group by assets in Europe, and the largest in Italy. At the time of the merger (it closed in January 2007), Intesa Sanpaolo S.p.A, had €541 billion in assets. Turin-based Sanpaolo was a major banking and insurance giant in Italy prior to the merger (it was Italy's No. 3 bank), with a staff of 44,000 and an estimated seven million customers. Milan-based Banca Intesa S.p.A., the second-biggest bank in Italy at the time of the combination, was formed in 1998 from the merger of CARIPLO (Cassa di Risparmio delle Provincie Lombarde) and Banco Ambroveneto (formerly known as Banco Ambrosiano). The following year, the Banca Commerciale Italiana (which had already renamed itself IntesaBCi) joined the Banca Intesa group. After Intesa and Sanpaolo joined forces, Banca Intesa Chief Executive Corrado Passera was named chief executive of Italy's newly formed number one banking group.




Intesa Sanpaolo S.p.A.


Via Monte di Pieta, 8
Milan 20121
Phone: +39-02-879-11
Fax: +39-02-879-8794-2587
www.intesasanpaolo.com

STATS


  • Employer Type: Public
  • Stock Symbol: ISP
  • Stock Exchange: Borsa Italiana
  • Chief Executive: Corrado Passera
  • 2009 Employees: 108,310

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