Credito Valtellinese


Credito Valtellinese is an Italian bank based in Sondrio, Lombardy, Italy. The company was a former component of FTSE Italia Mid Cap Index of the Borsa Italiana, but was removed and added as a component of Index in May 2017; the bank was added back to the reserve list of FTSE Italia Mid Cap in August 2017.
The bank is named after the area Valtellina. The bank had 363 branches in Northern Italy, 40 branches in Marche and Umbria, and 133 branches in Sicily. Credito Siciliano had three more branches outside the island of Sicily.
It had a market share of 32% in Sondrio. However, only 2.9% in whole Lombardy region in terms of deposits, as of 30 June 2014, as well as only 1.7% in terms of branches as the 10th of Italy.

History

Credito Valtellinese is a former co-operative bank based in Sondrio found in 1908, as Banca Piccolo Credito Valtellinese. The bank expanded by the acquisition of Technoleasing in the 1980s and Credito Artigiano in 1996, which was the parent company of Banca dell'Artigianato e dell'Industria. In 2002 Sicilian banks Banca Popolare Santa Venera in Acireale, Cassa San Giacomo in Caltagirone and Banca Regionale Sant'Angelo were merged to become Credito Siciliano. In 2008 Credito Piemontese, Cassa di Risparmio di Fano, Banca Cattolica di Montefiascone and Credito del Lazio joined.
From 2004 to 2013, Creval was a minority shareholder of Banca di Cividale.
In 2016 the bank was demutualized, being registered as a Banca Popolare. The new Italian Law N°3/2015 required that banks with more than €8 billion total assets in that category had to be transformed into a società per azioni. The withdrawal price for the shareholders was set at €0.4747 per share. At the same time a plan to combine 10 old shares to 1 new share was announced.

Equity investments

Credito Valtellinese was a minority shareholder of Global Assistance S.p.A., a subsidiary of Ri-Fin; Creval and Ri-Fin were the shareholders of Global Assicurazioni and Global Broker. The bank was a minority shareholder of Unione Fiduciaria.

Shareholders

No single shareholder holds more than a 2% stake. A declared shareholder of the bank is: