Tipology : Glossary

Veneto Banca Group was one of the first 15 Italian Banks. It has been declared bankrupted in 2017 by the Italian Minister of Finance (MEF).

HISTORY OF THE BANK

The Group is the result of a long journey that dates back to 1877, year in which the popular bank Banca Popolare di Montebelluna was founded. In 1966, the popular institution merged with Banca del Mandamento di Asolo, thus creating Banca Popolare di Asolo e Montebelluna. In 2000, it changed its name into Veneto Banca, after acquiring Banca di Credito Cooperativo del Piave e del Livenza, with the aim of serving a larger area of the Treviso province, where its roots are, and it became in the medium term a point of reference for families, enterprises, associations and public agencies of the region.Veneto Banca opened several branches in the Veneto and Friuli regions and created product companies such as Claris Assicurazioni, Claris Broker, Claris Factor, Claris Leasing and Claris Cinque (the last one specialised in wage assignment loans). Veneto Banca also implemented online services, like Clarisbanca (for private clients) and Impresa Web (for enterprises), and added a network of financial promoters, called Claris Net, to its branches.It acquired control of other credit institutions in Italy (Banca di Bergamo, Banca Popolare di Monza e Brianza, Banca Popolare di Intra, all operative in the North West of Italy) and in Eastern Europe (Banca Italo Romena in Romania, Eximbank in Moldova, Veneto Banka in Croatia and Banca Italiana di Sviluppo in Albania). It also created a new bank in Southern Italy (Banca Meridiana). At the beginning of 2008, Veneto Banca Group changed its structure: the parent company Veneto Banca became Veneto Banca Holding, keeping its status as a popular cooperative bank limited by shares and by the governing, strategic and control duties of a reality that is more and more articulated in Italy and abroad.The commercial sector is now divided into four geographic areas, each served by a joint-stock company: Veneto Banca in the North East, Banca Popolare di Intra (that absorbed Banca Popolare di Monza and Banca di Bergamo) in the North West, Banca Meridiana in the South and the foreign banks in Eastern Europe. Between the end of 2008 and the beginning of 2009, Veneto Banca Holding reached an agreement with Carifac (Cassa di Risparmio di Fabriano and Cupramontana, in the centre of Italy) and with BancApulia (in the south of the peninsula), in order to create - after the due authorisations - a banking group all along the Adriatic coastline, from Friuli Venezia Giulia to Apulia. Veneto Banca Group's mission is to be an innovative and autonomous group, a leader in its own territories, capable of providing a high quality of service and of generating value, ethically and responsibly, over the long term for its shareholders, customers and employees.

Link: https://www.gruppovenetobanca.it/en/la-storia
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