Banca Mediterranea
Native name | Nuova Banca Mediterranea S.p.A. |
|---|---|
| Formerly | Banca Mediterranea |
| Company type | subsidiary of a coop company |
| Industry | Financial services |
| Predecessor | |
| Founded |
|
| Defunct | 2004 |
| Successor |
|
| Headquarters | 1 Via Nazario Sauro, Potenza , Italy |
Area served | Basilicata, Apulia and Campania regions |
| Services | Retail banking |
| Owner | Banca Popolare di Bari |
| Parent | Banca Popolare di Bari |
Nuova Banca Mediterranea S.p.A. was an Italian bank based in Potenza, Basilicata. The bank was absorbed by Banca Popolare di Bari in 2004.
History
[edit]Banca Mediterranea
[edit]Banca Mediterranea S.p.A., based in Pescopagano, in the Province of Potenza, was found in 1992 by the merger of Banca Popolare Cooperativa di Pescopagano e Brindisi and Banca di Lucania.[1] At that time BP Pescopagano had about 40 branches and Banca di Lucania 30.[2] In 1994 Banca di Roma acquired 30% stake in the bank.[3]
The two banks at that time had a significant market share in Basilicata and Molise combined (Banca Mediterranea significantly in the Province of Potenza, Basilicata and Banca di Roma significantly in the Province of Campobasso, Molise). In the lending market (short term, year missing), Banca Mediterranea had a market share of 38.44% (Banca di Roma 2.16%) in Basilicata, comparing to competitors Cassa di Risparmio di Calabria e Lucania (16.07%) and Banco di Napoli (12.67%).[3] In 1994 Banca Mediterranea had 85 branches, 45 in Basilicata, 23 in Apulia, 16 in Campania and 1 in Molise.[3] The acquisition also caused a lengthy legal battle between the bank and the minority shareholders, which in 2014 quantified that the minority shareholders suffered a loss of €12 million.[4]
In 2000 Banca Mediterranea was absorbed into Banca di Roma (which owned 53.09% stake of Banca Mediterranea).[5][6] At the same time Nuova Banca Mediterranea was formed on 1 July 2000 as a wholly owned subsidiary of Banca di Roma.
Nuova Banca Mediterranea
[edit]Nuova Banca Mediterranea S.p.A. (known as Banca Mediterranea in short) was formed in 2000 in Potenza with 78 branches (out of 87 branches of old Banca Mediterranea).
At that time the bank had a market share of 10.69% in lending in Basilicata region.[7]
In 2001 the bank was sold to Nuova Finanziaria Mediterranea for €284 million,[6] a consortium of Banca Popolare di Bari (59.9%), Veneto Banca (25%) and Cattolica Assicurazioni (15.1%).[8][9][10] Veneto Banca later acquired 29 branches from Banca Mediterranea to form Banca Meridiana, as well as sold all the stake in Nuova Finanziaria Mediterranea in 2002.[11]
In 2004 Cattolica Assicurazioni sold the minority interests (20.12%) in Banca Mediterranea to BP Bari for €45,423,716.[12][13] In the same year the bank was absorbed into the parent company BP Bari.[14]
References
[edit]- ^ "Provvedimento N°408 (C373): Banca Popolare di Pescopagano / Banca di Lucania" (PDF) (in Italian). Autorità Garante della Concorrenza e del Mercato (AGCM). 26 February 1992. Archived from the original (PDF) on 14 April 2016. Retrieved 5 April 2016.
- ^ "AL SUD NASCE LA BANCA MEDITERRANEA". La Repubblica (in Italian). Gruppo Editoriale L'Espresso. 20 February 1992. Retrieved 5 April 2016.
- ^ a b c "Provvedimento N°2139 (C1510): Banca di Roma / Banca Mediterranea" (PDF) (in Italian). AGCM. 15 July 1994. Archived from the original (PDF) on 14 April 2016. Retrieved 5 April 2016.
- ^ "Mediterranea: 12 mln danni ad azionisti" (in Italian). ANSA. 24 February 2015. Retrieved 6 April 2016.
- ^ Banca di Roma / Banca Mediterranea (29 June 2000). "Estratto atto di fusione della "Banca Mediterranea S.p.A." nella "Banca di Roma S.p.A."" (in Italian). Italian Republic Official Gazette. Retrieved 5 April 2016.
- ^ a b "2001 Annual Report". Banca di Roma. Borsa Italiana archive. 3 July 2002. Retrieved 4 April 2016.
- ^ "Provvedimento N°168/A: Banca Popolare di Bari / Nuova Banca Mediterranea" (PDF) (in Italian). Banca d'Italia. 7 December 2001. Archived from the original (PDF) on 11 May 2017. Retrieved 14 April 2016.
- ^ "2001 Bilancio" (in Italian). Veneto Banca. 30 April 2002. Retrieved 5 April 2016.
- ^ "La Popolare di Bari fa shopping 550 miliardi per la Mediterranea". La Repubblica (in Italian). Gruppo Editoriale L'Espresso. 3 August 2001. Retrieved 5 April 2016.
- ^ "Da Bankitalia c' è il via libera a Popolare Bari". La Repubblica (in Italian). Gruppo Editoriale L'Espresso. 29 January 2002. Retrieved 5 April 2016.
- ^ "2002 Bilancio" (in Italian). Veneto Banca. 11 July 2003. Retrieved 5 April 2016.
- ^ "CATTOLICA ASSICURAZIONI CEDE LA PARTECIPAZIONE IN NUOVA BANCA MEDITERRANEA" (PDF) (in Italian). Cattolica Assicurazioni. 12 January 2004. Retrieved 5 April 2016.
- ^ "Cattolica cede a Popolare Bari il 20% di Banca Mediterranea". Il Mattino di Padova (in Italian). Gruppo Editoriale L'Espresso. 14 January 2004. Retrieved 5 April 2016.
- ^ "Nasce il più grande polo bancario autonomo del Mezzogiorno" (in Italian). Banca Popolare di Bari. 10 June 2004. Archived from the original on 21 December 2004. Retrieved 5 April 2016.
See also
[edit]- other banks from southern Italy with branches in Basilicata
- Banca Popolare di Puglia e Basilicata, an Italian bank
- Banca Apulia, an Italian bank
- Banca Carime, an Italian bank
- Banco di Napoli, an Italian bank
- Banca Popolare di Bari, an Italian bank
- Banca Popolare del Mezzogiorno, a defunct subsidiary of Banca Popolare dell'Emilia Romagna
- Banca di Roma, a defunct subsidiary of UniCredit
 | This Italian bank or insurance-related article is a stub. You can help Wikipedia by expanding it. |