PF Soggetto Presentatore Totale 2041 Unicredit Banca 945 2039 Unicredit Banca 945 2033 Unicredit 945

Total Page:16

File Type:pdf, Size:1020Kb

PF Soggetto Presentatore Totale 2041 Unicredit Banca 945 2039 Unicredit Banca 945 2033 Unicredit 945 Graduatoria Comparto Creditizio-Finanziario Avviso 1/06 PF Soggetto Presentatore Totale 2041 Unicredit Banca 945 2039 Unicredit Banca 945 2033 Unicredit 945 729 MPS Banca Personale SpA 935 251 Banca Toscana 880 2037 Unicredit 865 252 Banca Toscana 860 625 Banca Popolare Pugliese 860 1473 San Paolo Imi SpA 855 2439 Unicredit Private Banking 855 2047 San Paolo Imi SpA 845 1727 San Paolo Imi SpA 840 Banca Agricola Mantovana 335 SpA 830 520 Unicredit 830 1352 Banca Carige 825 532 Unicredit SpA 820 Banca di Piacenza soc. 889 coop. per azioni 820 1993 Banca Carige 820 1179 Calyon 815 Banca Monte dei Paschi di 213 Siena SpA 805 1575 Unicredit Private Banking 805 Banca Popolare di 2404 Lanciano e Sulmona 805 1099 2S Banca SpA 800 2440 Unicredit Private Banking 800 Unicredit Produzioni 3 Accentrate 790 Banca Popolare di Lajatico 2737 soc. coop. per azioni 785 1205 Unicredit Xelion Banca SpA 785 Banca Nazionale del 187 Lavoro SpA 775 Banca Monte dei Paschi di 936 Siena SpA 775 Banca Nazionale del 1750 Lavoro SpA 775 843 Banca Popolare di Sondrio 775 2392 Banca del Monte di Foggia 775 Banca Nazionale del 1572 Lavoro SpA 770 Banca Monte dei Paschi di 214 Siena SpA 770 1998 Banca Carige 770 36 Carispaq SpA 765 269 Unipol Banca SpA 760 399 Banca Popolare Etica 760 1637 Bipop Carire SpA 760 Banca Popolare di Puglia e 2149 Basilicata 750 1182 Centrobanca SpA 745 1375 Banca Popolare di Spoleto 740 Banca Agricola Mantovana 276 SpA 735 Banca Nazionale del 1656 Lavoro SpA 730 Banca Monte dei Paschi di 891 Siena SpA 730 33 Banca Intesa SpA 730 804 Capitalia SpA 730 Cassa di Risparmio di 1939 Cento SpA 725 1267 Banca Arditi Galati SpA 720 Cassa di Risparmio di 15 Ferrara SpA 715 Banco di Desio e della 319 Brianza SpA 710 Banca Cooperativa 370 Cattolica 710 Cassa di Risparmio di San 1275 Miniato SpA 710 977 Cassa Risparmio di Livorno 700 32 Banca Intesa SpA 695 Unicredit Global 1031 Information Services 695 Cassa di Risparmio di 18 Bolzano SpA 690 2388 Banco di Sardegna SpA 690 Cassa di Risparmio di 14 Ferrara SpA 685 Cassa di Risparmio di Forlì 397 SpA 685 1272 Capitalia SpA 685 1777 Unicredit Real Estate 685 2169 Centro Leasing SpA 685 115 Bancapulia SpA 685 805 Capitalia SpA 680 35 Banca Intesa SpA 680 192 Unibanca SpA 675 2250 Banca Di Credito Popolare 675 Cassa di Risparmio di 19 Bolzano SpA 670 883 Banca Caboto SpA 670 1930 Credito Emiliano SpA 670 2391 Banco di Sardegna SpA 670 Banca Popolare dell'Emilia 2406 Romagna 665 Associazione Bancaria 2080 Italiana 660 571 Agos SpA 655 2438 Unicredit Private Banking 655 Banca Popolare Friuladria 56 SpA 650 Banca Popolare di 833 Fornacette 650 Cassa di Risparmio di 1987 Saluzzo SpA 650 2228 Banca di Credito Popolare 650 2621 Banca della Campania 645 Cassa di Risparmio di 17 Ferrara SpA 640 340 Unicredit Banca d'Impresa 635 20 Banca del Piemonte SpA 630 2243 BPU 630 193 Unibanca SpA 625 Credito Fondiario e 1158 Industriale SpA 625 Cassa di Risparmio di 1295 Parma e Piacenza SpA 625 Cassa di Risparmio di 16 Ferrara SpA 615 341 Unicredit Banca d'Impresa 615 1274 Capitalia SpA 613 Banco Popolare Verona e 453 Novara 610 924 SSB 610 2245 BPU 605 34 Banca Intesa SpA 600 885 Intesa Mediofactoring SpA 600 2542 Cassa di Risparmio di Asti 600.
Recommended publications
  • Genius Card Multiservizi Unisun
    Genius Card Multiservizi UniSUN Quali sono le mie esigenze? Avere un prodotto semplice e conveniente, vista l’assenza di costi di emissione e canone mensile grazie allo status di studente, docente o dipendente della Seconda Università degli Studi di Napoli, per gestire in tutta sicurezza le principali esigenze di operatività bancaria, senza la necessità di avere un conto corrente. IL PRODOTTO IN SINTESI A chi è rivolto Agli Studenti e ai dipendenti – docenti e non – della Seconda Università degli Studi di Napoli che siano maggiorenni e residenti, anche a fini valutari, in Italia. Con un unico prodotto, semplice e conveniente Genius Card Multiservizi UniSUN consente di gestire comodamente e con sicurezza le principali operazioni bancarie, con in più la possibilità di accedere ai servizi resi dalla Seconda Università degli Studi di Napoli e al circuito di scontistica presso gli esercenti convenzionati dalla Banca. Come funziona Genius Card Multiservizi UniSUN è una carta prepagata nominativa ricaricabile che consente di prelevare e pagare nei negozi in Italia e all’estero grazie al circuito internazionale MasterCard. La carta è abilitata alla tecnologia contactless che consente di effettuare presso gli esercenti che espongono il marchio MasterCard PAYPASS operazioni di pagamento anche mediante semplice avvicinamento della Carta alle apparecchiature POS. Le operazioni effettuate in tale modalità: • se hanno importo pari o inferiore a 25 euro possono essere effettuate senza digitazione del PIN o firma della memoria di spesa • se hanno importo
    [Show full text]
  • Merger of Unicredit and Capitalia to Consolidate Italian Footprint and Create the No
    JOINT PRESS RELEASE Merger of UniCredit and Capitalia to consolidate Italian footprint and create the No. 1 Eurozone bank by market capitalization Merger with an exchange ratio of 1.12 new ordinary shares of UniCredit for each ordinary share of Capitalia Key Transaction features: • Consolidates and strengthens position in the Italian market, one of the most attractive in Europe • Significantly enhances main banking segments and distribution channels • Unites complementary branch networks to reach more than 5,000 branches in Italy • Achieves well-balanced geographic and business mix with more than 50% of revenues outside of Italy, confirming the European orientation • Approx. €1.2 billion estimated pre-tax synergies in 2010, of which approx. 68% deriving from lower costs • Pre-tax one-off integration costs estimated at approx. €1.1 billion • Positive financial proposition for all shareholders: - Combined EPS CAGR 2007-2009 around 17%1 - Accretive deal for UniCredit shareholders from 2009 onwards and for Capitalia shareholders from the outset1 - DPS to grow progressively over the next years - Core Tier I ratio confirmed at 6.8% by 2008 • Capitalia’s activities to be integrated within UniCredit divisional model • Creation of three retail banks in Italy with specific regional responsibilities 20 May 2007 The UniCredit and Capitalia Board of Directors, which met today in Milan and Rome respectively, approved the merger project by incorporation of Capitalia S.p.A. in UniCredito Italiano S.p.A. 1 Based on brokers consensus from Reuters. EPS pre allocation of Transaction goodwill 1 In addition, UniCredit and Capitalia Board of Directors called the respective extraordinary shareholders’ meetings which will be asked to approve the merger project and the related changes of the articles of association.
    [Show full text]
  • IX Edizione Di Invito Banca Antonveneta Cariprato a Palazzo
    Associazione Bancaria Italiana BNL - Gruppo BNP Paribas Sono lieto di dare il benvenuto a quanti hanno scelto di visitare i palazzi delle banche aperti al pubblico in occasione della IX edizione di Invito Banca Antonveneta Cariprato a Palazzo. Questa iniziativa, ben consolidata nel calendario degli eventi Banca Carige Carisbo culturali, serve a far conoscere meglio il patrimonio culturale e i documenti della vita civile del nostro Paese che le banche conservano e valorizzano. Banca CR Firenze Cassa dei Risparmi di Forlì e della Romagna La manifestazione, promossa dall’ABI e realizzata con le banche che Banca dell’Adriadico aderiscono al progetto, apre per l’intera giornata di sabato 2 ottobre i Cassa di Risparmio Banca di Imola palazzi degli istituti di credito, normalmente chiusi al pubblico perché del Friuli Venezia Giulia luoghi in cui si svolge quotidianamente l’attività bancaria. Il pubblico può Banca di Piacenza Cassa di Risparmio del Veneto così fruire liberamente, almeno una volta l’anno, di un patrimonio culturale Banca di Romagna significativamente diffuso in tutti i centri del nostro Paese. Cassa di Risparmio Banca di Trento e Bolzano di Ascoli Piceno L’aver saputo mostrare attraverso i palazzi delle ‘cento città italiane’ i caratteri costitutivi della civiltà, dei costumi, del modo di essere degli Banca Etruria Cassa di Risparmio di Asti Italiani è la ragione dell’ampio successo di pubblico e dell’adesione di Banca Federico Del Vecchio Cassa di Risparmio di Cento tutti i mezzi d’informazione alla nostra manifestazione. ‘Il palazzo’, al di là della metafora pasoliniana, rappresenta ancora nella realtà attuale i Banca Finnat Euramerica Cassa di Risparmio di Cesena cardini dell’evoluzione civile ed economica del Paese, oltre che l’eccezionale tradizione architettonica e artistica di quel policentrismo culturale che Banca Monte dei Paschi di Siena Cassa di Risparmio spiega e tuttora caratterizza la storia di questo Paese.
    [Show full text]
  • Unicredit S.P.A
    UniCredit S.p.A. (incorporated with limited liability as a "Società per Azioni" under the laws of the Republic of Italy) €25,000,000,000 Obbligazioni Bancarie Garantite Programme Guaranteed by UniCredit OBG S.r.l. (incorporated with limited liability as a "Società a responsabilità limitata" under the laws of the Republic of Italy) Under the €25,000,000,000 Obbligazioni Bancarie Garantite Programme (the “Programme”) described in this prospectus (the “Prospectus”), UniCredit S.p.A. (in its capacity as issuer of the OBG, as defined below, the “Issuer”), subject to compliance with all relevant laws, regulations and directives, may from time to time issue obbligazioni bancarie garantite (the “OBG”) guaranteed by UniCredit OBG S.r.l. (the “OBG Guarantor”) pursuant to Article 7 bis of Italian law No. 130 of 30 April 1999 (Disposizioni sulla cartolarizzazione dei crediti), as amended from time to time (the “Law 130”) and regulated by the Decree of the Ministry of Economy and Finance of 14 December 2006, No. 310, as amended from time to time (the “MEF Decree”) and the supervisory guidelines of the Bank of Italy set out in Title V, Chapter 3 of the “Nuove Disposizioni di Vigilanza Prudenziale per le Banche” (Circolare No. 263 of 27 December 2006), as amended and supplemented from time to time (the “BoI OBG Regulations”). The payment of all amounts due in respect of the OBG will be unconditionally and irrevocably guaranteed by the OBG Guarantor. Recourse against the OBG Guarantor is limited to the Available Funds (both as defined below). The maximum aggregate nominal amount of OBG from time to time outstanding under the Programme will not at any time exceed €25,000,000,000, subject to increase as provided for under the Dealer Agreement.
    [Show full text]
  • Information Document (Documento Informativo) Relating to the Merger Pursuant to Art
    A Joint Stock Company - Registered Office in Genoa - Via Dante, 1 - Head Office in Milan – Piazza Cordusio; Registered with CAPITALIA - Registered Office in Via Marco the Genoa Courts in the Companies Minghetti, 17, Rome – Share Capital € Register, fiscal code and VAT number 3,123,792,732 – Rome Register of Companies, Tax 00348170101; Registered in the Register of Registration Number 00644990582 – Member of the Banking Groups and Parent Company of Interbank Guarantee Fund – The Company is a the UniCredito Italiano Banking Group Registered Bank and is the Parent Company of the registered with code 3135.1 - Member of CAPITALIA Group, a Registered Banking Group the Interbank Fund for Deposit Protection Capital: € 5,222,465,096.50 fully paid up. IINNFFOORRMMAATTIIOONN DDOOCCUUMMEENNTT MERGER INTO UNICREDIT S.P.A. OF CAPITALIA S.P.A. DRAWN UP PURSUANT TO SECTION 70, PARAGRAPH 4, OF THE REGULATIONS CONCERNING ISSUERS - CONSOB REGULATION NO. 11971/99, AS AMENDED This is an English translation of the original Italian document. This translation has been prepared solely for the convenience of the reader. The original version in Italian takes precedence. - 2 - NOTICE OF CALL OF A SHAREHOLDERS’ MEETING PUBBLISHED ON GAZZETTA UFFICIALE – II part - n. 64 DATED JUNE 5, 2007 UNICREDITO ITALIANO A Joint Stock Company Registered in the Register of Banking Groups and Parent Company of the UniCredito Italiano Banking Group registered with code 3135.1 Member of the Interbank for Deposit Protection Fund Registered Office in Genoa - Via Dante, 1 Head Office in Milan – Piazza Cordusio Capital: € 5,222,465,096.50 fully paid up Registered with the Genoa Courts in the Companies Register fiscal code and VAT number 00348170101 NOTICE OF CALL The Shareholders of UniCredito Italiano are hereby convened to an Ordinary and Extraordinary Shareholders’ Meeting to be held in Genoa, Via Dante 1, on 28th July 2007 at 9:00 am, and, if necessary, with regard to the extraordinary session, in second call, on 29th July 2007 at 18:30 pm in the same location.
    [Show full text]
  • Accordo Carige
    VERBALE DI ACCORDO In data 17 novembre 2008 tra UniCredit, nelle persone dei Sigg. Angelo Carletta, Gianluigi Robaldo, Fabrizio Ferretti, Fabrizio Rinella, Giancarla Zemiti, Paolo Giannoccoli, Silvio Lops, Valeria Ruggiero, Massimo Giovannelli, Miriam Travaglia, Francesco Trapanese, Anna Lisa Rizza UniCredit Banca, nelle persone dei Sigg. Enrico Pozzi, Massimiliano Fara, Lucia Landi UniCredit Banca di Roma, nelle persone dei Sigg. Cinzia Fichera, Sergio D’Ercole Banco di Sicilia, nelle persone dei Sigg. Paolo Ruggi, Giuseppe Giordano, Antonio Saetta e Banca Carige, nelle persone dei Sigg. Giacomo Ottonello, Sergio Donegà, Luciano Salvati e le OO.SS. DIRCREDITO-FD, Giancarlo Mirandola, Giuliano Arosio, Donato Forte, Pietro Santagata, FABI, Angelo Di Cristo, Franco Ottobre, Carmelo Raffa, Cetty Di Benedetto, Stefano Cefaloni, Giovanni Galli, Carola Tessadri, Maria Furfaro, Stefano Seghezza, Massimo Giavarini, FIBA/Cisl, Ezio Massoglio, Ester Balconi, Gabriele Urzì, Daniele Bedogni, Giuseppe Matta, Monica Sebastiani, Costanzo Cavalli FISAC/Cgil, Andrea Bonansea, Fausto Ricci, Marco Salvi, Francesco Re, Franco Ospazi, Vito La Francesca, Sergio Bui, Sergio Lorenzo Bonanini, Maria Elena Di Betta, Maria Pazzini SINFUB, Antonio Raccuglia, Antonio Barbato, Francesco Cuccovillo, Filippo Pretolani, Eraldo Montali SILCEA, Vincenzo Fusciardi, Nicola Cavadi, Luigi Canadelli, Corrado Medetti, Maurizio Licandro, Sergio Russo, Alberto Di Gennaro UGL Credito Pietro Agrillo, Davide Zecca, Andrea Cavagna, Sergio Isella, Flavio Varesano, Angelo Garaventa,
    [Show full text]
  • Form Adv Form Adv Form
    FORM ADV UNIFORM APPLICATION FOR INVESTMENT ADVISER REGISTRATION Primary Business Name: UNICREDIT CAPITAL MARKETS, INC CRD Number: 7789 ADV-Annual Amendment, Part 2 Rev. 02/2005 3/18/2009 3:17:11 PM Amend, retire or file new brochures: FORM ADV UNIFORM APPLICATION FOR INVESTMENT ADVISER REGISTRATION Primary Business Name: UNICREDIT CAPITAL MARKETS, INC CRD Number: 7789 ADV - Annual Amendment, SCHEDULE A Rev. 02/2005 3/18/2009 3:17:11 PM Form ADV, Schedule A Direct Owners and Executive Officers 1. Complete Schedule A only if you are submitting an initial application. Schedule A asks for information about your direct owners and executive officers. Use Schedule C to amend this information. 2. Direct Owners and Executive Officers. List below the names of: (a) each Chief Executive Officer, Chief Financial Officer, Chief Operations Officer, Chief Legal Officer, Chief Compliance Officer(Chief Compliance Officer is required and cannot be more than one individual), director, and any other individuals with similar status or functions; (b) if you are organized as a corporation, each shareholder that is a direct owner of 5% or more of a class of your voting securities, unless you are a public reporting company (a company subject to Section 12 or 15(d) of the Exchange Act); Direct owners include any person that owns, beneficially owns, has the right to vote, or has the power to sell or direct the sale of, 5% or more of a class of your voting securities. For purposes of this Schedule, a person beneficially owns any securities: (i) owned by his/her child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, sharing the same residence; or (ii) that he/she has the right to acquire, within 60 days, through the exercise of any option, warrant, or right to purchase the security.
    [Show full text]
  • All B TRANSAZIONE UNICREDIT
    TRANSAZIONE UniCredit Credit Management Bank S.p.A., con sede in Verona, Piazzetta Monte n.1 - capitale sociale Euro 41.280.000, codice fiscale e numero di iscrizione al Registro delle Imprese di Verona n. 00390840239, partita IVA n. 02659940239, iscritta all'Albo delle Banche al n. 10639.3 – Banca con socio unico ed appartenente al Gruppo Bancario UniCredit - Albo dei Gruppi Bancari cod. 2008.1, in persona del sig. __________ domiciliato in _________, via _________________, il quale interviene al presente atto nella qualifica di dirigente, con poteri di firma per essa UniCredit Credit Management Bank Spa, giusta procura per atto Notaio __________________ di ____________ in data __.__.______ n. ________ di rep. Con atto pubblico di fusione, ai sensi e per gli effetti del combinato disposto degli art. 2501 e ss Codice Civile ed art. 57 D.Lgs. 385/93, in data 20 ottobre 2008 rep n. 47912 Racc. n. 13013 a rogito Notaio Gennaro Mariconda (registrato a Roma I il 20.10.2008 n. 39512/1T), con efficacia giuridica dal 1° novembre 2008, sono state fuse per incorporazione, in UniCredit S.p.A. [con sede legale in Roma, Via A. Specchi, 16 - Direzione Generale in Milano, Piazza Cordusio, Capitale Sociale € 8.389.215.286,50 interamente versato, Banca iscritta all'Albo delle Banche e Capogruppo del Gruppo Bancario UniCredit - Albo dei Gruppi Bancari cod. 3135.1, iscrizione al Registro delle Imprese di Roma - Codice Fiscale e P. IVA n° 00348170101, aderente al Fondo Interbancario di Tutela dei Depositi] le seguenti Società: UniCredit Banca S.p.A. Sede Legale e Direzione Generale in Bologna, Via Zamboni n.
    [Show full text]
  • Unicredit Ns Eng 08
    THIS DOCUMENT IS A TRANSLATION OF THE ITALIAN VERSION OF THE SUMMARY NOTE APPROVED BY CONSOB AS COMPETENT HOME MEMBER STATE AUTHORITY AND IS MADE UNDER THE SOLE RESPONSIBILITY OF UNICREDIT S.P.A. Summary Note Prepared in accordance with the regulations adopted by CONSOB with Decision no. 11971 of 14 May 1999, as subsequently amended, and with Article 24 of Commission Regulation (EC) No 809/2004 of 29 April 2004 implementing Directive 2003/71/EC UniCredit S.p.A. Registered office – Via Alessandro Specchi 16, Rome Central Management Office – Piazza Cordusio, Milan Entered in the Register of Banks and Parent Company of the UniCredit Banking Group, entered in the Register of Banking Groups under no. 02008.1 Rome Trade and Companies Register, Tax Code and VAT No 00348170101 Share capital subscribed and fully paid-up: Euro 12,148,463,316.00 Member of the Interbank Deposit Protection Fund and the National Deposit Guarantee Fund Summary Note filed with CONSOB on 4 January 2012, pursuant to the notice of approval in a memorandum dated 4 January 2012, file no. 12000920. The publication of the Summary Note does not represent any opinion of CONSOB on the investment opportunity proposed or on the merit of the data and information contained therein. The Summary Note must be read in conjunction with the UniCredit S.p.A. Registration Document filed with CONSOB on 15 December 2011, pursuant to the notice of approval in a memorandum dated 14 December 2011, file no. 11098908, and the Securities Note filed with CONSOB on 4 January 2012, pursuant to the notice of approval in a memorandum dated 4 January 2012, file no.
    [Show full text]
  • Merger of Unicredit and Capitalia to Consolidate Italian Footprint and Create the No
    UniCredit Group - Media Center - Press releases http://www.unicreditgroup.eu/DOC/jsp/navigation/news_content.jsp... Merger of UniCredit and Capitalia May 20, 2007- h 17:45 E-mail redazione Scarica file Ad-hoc-Meldung / Ad hoc Release nach § 15 WpHG / pursuant to § 15 of the German Securities Trading Act JOINT PRESS RELEASE Merger of UniCredit and Capitalia to consolidate Italian footprint and create the No. 1 Eurozone bank by market capitalization Merger with an exchange ratio of 1.12 new ordinary shares of UniCredit for each ordinary share of Capitalia Key Transaction features: Consolidates and strengthens position in the Italian market, one of the most attractive in Europe Significantly enhances main banking segments and distribution channels Unites complementary branch networks to reach more than 5,000 branches in Italy Achieves well-balanced geographic and business mix with more than 50% of revenues outside of Italy, confirming the European orientation Approx. €1.2 billion estimated pre-tax synergies in 2010, of which approx. 68% deriving from lower costs Pre-tax one-off integration costs estimated at approx. €1.1 billion Positive financial proposition for all shareholders: - Combined EPS CAGR 2007-2009 around 17% (1) - Accretive deal for UniCredit shareholders from 2009 onwards and for Capitalia shareholders from the outset (1) - DPS to grow progressively over the next years - Core Tier I ratio confirmed at 6.8% by 2008 Capitalia’s activities to be integrated within UniCredit divisional model Creation of three retail banks in Italy with specific regional responsibilities The UniCredit and Capitalia Board of Directors, which met today in Milan and Rome respectively, approved the merger project by incorporation of Capitalia S.p.A.
    [Show full text]
  • Unicredit S.P.A. 2008 Reports and Accounts and Reports 2008 S.P.A
    UniCredit S.p.A. 2008 Reports and Accounts UniCredit S.p.A. 2008 Reports and Accounts www.unicreditgroup.eu At UniCredit Group we are aware that our business activities have an impact on the environment, and always factor environmental sustainability into our strategic decisions. In 2009 the greenhouse gas emissions associated with the paper used for the publication of 2008 Consolidated Reports and Accounts and Sustainability Report have been offset by a contribution to a biomass-fueled district heating plant in Italy (Valtellina). The offsets for the 2008 Consolidated Reports and Accounts and Sustainability Report were executed in association with AzzeroCO2 UniCredit Italian Joint Stock Company Registered Office: Rome, Via A. Specchi, 16 Pictures General Management: Milan, Piazza Cordusio Registration number in the Rome Trade and Companies Register, Cover, sorter pages and Top Manager Tax Code and VAT No. 00348170101 Entered in the Register of Banks Courtesy Ferruccio Torboli (UniCredit Group) Parent Company of the UniCredit Banking Group Banking Group Register No. 3135.1 Member of the Interbank Deposit Protection Fund Capital Stock: e 7,170,400,150.00 fully paid in Printed on certified recycled chlorine-free paper. Our Commitment is Our Strength 2008 was a year that posed significant challenges to the global economy, to the financial services industry and to our business. To date, our business model remains sound, and our outlook is positive for our future operations. We remain positive because we know that we can count on our greatest strength. It is our solid and rigorous commitment - to our customers, to our people, to our investors, to the communities we serve, to our core values, to culture, to quality in everything we do, and to the sustainable success of our enterprise.
    [Show full text]
  • The Privatization of Italian Savings Banks – a Role Model for Germany?*
    Vierteljahrshefte zur Wirtschaftsforschung 74 (2005), 4, S. 32–50 The Privatization of Italian Savings Banks – A Role Model for Germany?* By Elena Carletti**, Hendrik Hakenes and Isabel Schnabel*** Summary: The privatization of the Italian savings banks is often described as a success story. Propo- nents of privatization argue that a similar reform could cure the current problems in the German banking sector. In this paper, we ask whether the Italian experience can really serve as a role model for Germany. Our analysis confirms that the Italian reforms of the 1990s were a success. Banks’ profit- ability increased, without impairing competition or the availability of banking services and loans. However, this success has to be attributed to a broad set of reforms, which went far beyond the priva- tization of savings banks. Moreover, Italy had a different starting point before the reforms, and the structure of the public banking sector differed markedly from Germany’s. Therefore, one may question the transferability of the Italian experience to Germany. The costs and benefits of privatization should be weighed carefully against each other before abandoning the three-pillar system. Zusammenfassung: Die Privatisierung italienischer Sparkassen wird häufig als Erfolgsgeschichte bezeichnet. Befürworter einer Privatisierung argumentieren, dass die gegenwärtigen Probleme im deutschen Bankensystem auf ähnlichem Wege behoben werden könnten. In diesem Aufsatz stellen wir die Frage, ob das italienische Beispiel wirklich als Vorbild für Deutschland dienen kann. Unsere Analyse bestätigt, dass die italienischen Reformen der 90er Jahre ein Erfolg waren. Die Banken wur- den profitabler, ohne dass der Wettbewerb oder die Verfügbarkeit von Bankleistungen oder Krediten eingeschränkt wurden.
    [Show full text]