DOCSLIB.ORG

SANPAOLO IMI S.P.A

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
SANPAOLO IMI S.P.A UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 1999 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from N/A to N/A Commission file number: 1-14870 SANPAOLO IMI S.p.A. (Formerly ISTITUTO BANCARIO SAN PAOLO DI TORINO - ISTITUTO MOBILIARE ITALIANO S.p.A.) (Exact name of Registrant as specified in its charter) Italy (Jurisdiction of incorporation or organization) Piazza San Carlo 156, 10121 Turin, Italy (Address of principal executive offices) Securities registered or to be registered pursuant to Section 12(b) of the Act. Name of each Title of each class exchange on which registered American Depositary Shares, each representing 2 Ordinary Shares of Euro 2.8 par value each The New York Stock Exchange Ordinary Shares of Euro 2.8 par value each (the “Shares”) The New York Stock Exchange* * Not for trading, but only in connection with the registration of American Depositary Shares representing such Shares pursuant to the requirements of the Securities and Exchange Commission. Securities registered or to be registered pursuant to Section 12(g) of the Act. None (Title of Class) Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act. None (Title of Class) Indicate the number of outstanding shares of each of the issuer's classes of capital or common stock as of the close of the period covered by the annual report. Not applicable Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o Not applicable o Indicate by check mark which financial statement item the registrant has elected to follow. Item 17 x Item 18 o Form 20-F SANPAOLO IMI S.p.A. SANPAOLO IMI S.p.A. (A joint stock company incorporated under the laws of Italy and registered in Turin, number 4382/91, at Piazza San Carlo 156, Turin, Italy) Annual Report on Form 20-F for the Year ended December 31, 1999 TABLE OF CONTENTS Presentation of Information (ii) Exchange Rates (iv) Dividends (v) Forward Looking Statements (vi) Part I Item 1. Description of Business 1 Introduction 1 Business and Geographical Segments 6 Selected Statistical Information 19 Competition 43 Employees 44 The Italian Banking System: Supervision and Regulation 46 Item 2. Description of Property 56 Item 3. Legal Proceedings 57 Item 4. Control of Registrant 58 Item 5. Nature of Trading Market 61 Item 6. Exchange Controls and Other Limitations Affecting Security Holders 64 Item 7. Taxation 66 Item 8. Selected Financial Data 70 Item 9. Management’s Discussion and Analysis of Financial Condition and Results of Operations 76 Introduction – The Italian Economy and the Italian Banking Sector 78 Results of Operations 79 Financial Condition 98 Item 9A.Risk Management 112 Item 10. Directors and Executive Officers of Registrant 121 Item 11. Remuneration 124 Item 12. Options to Purchase Securities from Registrant or Subsidiaries 125 Item 13. Interest of Management in Certain Transactions 126 Part II Item 14. Description of Securities to be Registered 126 Part III Item 15. Defaults upon Senior Securities 126 Item 16. Changes in Securities and Changes in Security for Registered Securities 126 Part IV Item 17. Financial Statements 126 Item 18. Financial Statements 126 Item 19. Exhibits 127 (i) PRESENTATION OF INFORMATION SANPAOLO IMI S.p.A. (the “Bank” or “Sanpaolo IMI”) publishes consolidated financial statements which are included elsewhere in this Annual Report, (the “Consolidated Financial Statements”) for the Bank and its consolidated subsidiaries constituting the Sanpaolo IMI Group (the “Sanpaolo IMI Group” or the “Group”) in “Euro”, the new single unified currency that was introduced in Italy and in 10 other participating member states of the European Union (“Member States” and “EU”) on January 1, 1999. Sanpaolo IMI was formed from the merger in 1998 of Istituto Bancario Sanpaolo di Torino S.p.A. (“Sanpaolo”) and Istituto Mobiliare Italiano S.p.A. (“IMI”). In this Annual Report, references to “dollars” or “$” are to United States dollars and references to “Euro”, “euro” and “€” are to Euro. For the purpose of this Annual Report, “billion” means a thousand million. The noon buying rate in The City of New York for cable transfers in foreign currencies as announced by the Federal Reserve Bank of New York for customs purposes (the “Noon Buying Rate”) for the euro on June 21, 2000 was Euro = $0.9455. The Noon Buying Rate for the euro on June 21, 2000 may differ from the actual rates during the year used in the preparation of Sanpaolo IMI’s Consolidated Financial Statements and dollar amounts in this Annual Report may differ from the actual dollar amounts that were translated into euro in the preparation of such financial statements in accordance with Italian accounting standards (Italian GAAP as defined below). The financial statements included herein have been prepared in accordance with generally accepted accounting principles in Italy, including Legislative Decree No. 87 of January 27, 1992, which implemented the European Commission (“EC”) Directive 86/635, and Bank of Italy regulations of January 16, 1995, and supplemented by the accounting principles issued by the Consiglio Nazionale dei Dottori Commercialisti e dei Ragionieri (collectively, “Italian GAAP”), which differ in certain significant respects from generally accepted accounting principles in the United States (“US GAAP”). For example, while the audited financial statements of Sanpaolo IMI Group include the accounts of the Bank and those banking and finance companies in which it holds a controlling voting interest, insurance and real estate companies controlled by the Bank are accounted for using the equity method. In Italy, there are no specific legal rules or accounting principles concerning the accounting treatment of business combinations, including mergers such as that of Sanpaolo and IMI. As a result, merger accounting in Italy has developed on the basis of certain rules, including tax rules, specifically applicable to merger transactions and combines aspects of the US purchase and pooling of interests methods of accounting. The Italian practice does not therefore require a choice between two mutually exclusive methods but depends rather on the provisions of the business combination agreement. The following is a summary of the principal points of Italian practice as they relate to the merger of Sanpaolo and IMI: ·when combinations are effected through the exchange of shares, assets and liabilities (at historical values) are generally aggregated, as in consolidation, net of intercompany eliminations, and shareholders’ equity is also aggregated, after elimination of cross-holdings. (ii) The merger by incorporation into Sanpaolo of IMI (effective on November 1, 1998) was accounted for as follows: Under Italian GAAP: · the assets and liabilities of Sanpaolo and IMI were aggregated at their historical value with intercompany eliminations; · the shareholders’ equity of Sanpaolo and IMI were aggregated at their historical value, taking into consideration the cancelation of the Sanpaolo shares held by IMI. The financial statements of Sanpaolo IMI for the year ended December 31, 1999 therefore include the assets and liabilities of IMI, net of any reciprocal balances. The assets and liabilities of Sanpaolo IMI have been recorded at book value. The 1998 statement of income includes the profits and losses of IMI. Transactions between the two groups during the period prior to November 1, 1998 have not been eliminated. Under US GAAP: · the merger would have been accounted for by the purchase method. Assets and liabilities acquired would have been recorded at fair value and goodwill was recorded as an asset to be amortized through the income statement over 20 years. The financial statements for 1999 presented in this Annual Report refer to the accounts of the Sanpaolo IMI Group. Those relating to 1998 account for the merger between Sanpaolo and IMI under Italian accounting rules which combine aspects of the purchase and pooling of interests methods of accounting under US GAAP. However this pooling of interest has been applied, under Italian GAAP, only for the 1998 financial statements. The financial statements for the year ended December 31, 1997 presented in this Annual Report refer to the accounts of Sanpaolo only. See Item 8 “Selected Financial Data”. Following the sale in 1999 of an additional 20% shareholding in Crediop S.p.A. (“Crediop”), a subsidiary specialized in loans to public entities (which with its subsidiaries Crediop B.V. Crediop Overseas Bank and C. Fin were consolidated in the Sanpaolo IMI Group until December 31, 1998), the 40% residual stake has been accounted for by the equity method and not wholly consolidated. In addition, Imigest Immobiliare (and its subsidiaries Tradital and Immobiliare Italia Gestioni), which were included in a real estate portfolio spun off by the Group during 1999, are no longer consolidated. See Item 1. “Description of Business”. NHS-Nuova Holding Subalpina (“NHS”), a merchant banking investment subsidiary, 51% owned by Sanpaolo IMI, and Fideuram Gestions, established in October 1999 by the subsidiary Banca Fideuram, have been consolidated. (iii) EXCHANGE RATES The following table sets forth, for the periods indicated, certain information regarding the Noon Buying Rate for the Italian lira, expressed in Italian lire per U.S.
Load more

Recommended publications
  • Annual Press Conference 2012
    European Investment Bank Annual Press Conference 2012 Annual Press Conference 2012 Financing operations in 2011 Geographical breakdown of finance contracts signed (EUR million) 2011 2007-2011 Amount % Amount % Belgium (BE) 1 333 2.2 7 124 2.2 Bulgaria (BG) 156 0.3 2 008 0.6 Czech Republic (CZ) 1 246 2.0 7 591 2.4 Denmark (DK) 155 0.3 1 552 0.5 Germany (DE) 6 112 10.0 36 312 11.5 Estonia (EE) 183 0.3 1 186 0.4 Ireland (IE) 475 0.8 2 531 0.8 Greece (GR) 958 1.6 7 597 2.4 Spain (ES) 9 079 14.9 44 689 14.1 France (FR) 4 954 8.1 24 927 7.9 Italy (IT) 8 436 13.9 40 553 12.8 Cyprus (CY) 180 0.3 992 0.3 Latvia (LV) 36 0.1 1 316 0.4 Lithuania (LT) 11 0.0 1 257 0.4 Luxembourg (LU) 108 0.2 776 0.2 Hungary (HU) 1 399 2.3 7 772 2.5 Malta (MT) - - 290 0.1 Netherlands (NL) 860 1.4 6 071 1.9 Austria (AT) 2 020 3.3 7 813 2.5 Poland (PL) 5 279 8.7 20 745 6.5 Portugal (PT) 2 095 3.4 13 417 4.2 Romania (RO) 917 1.5 4 088 1.3 Slovenia (SI) 335 0.6 2 138 0.7 Slovakia (SK) 400 0.7 2 367 0.7 Finland (FI) 1 403 2.3 4 872 1.5 Sweden (SE) 708 1.2 6 475 2.0 United Kingdom (GB) 4 782 7.9 23 028 7.3 EFTA (1) 130 0.2 180 0.1 European Union 53 750 88.3 279 667 88.2 of which JESSICA resources 735 852 Enlargement countries 3 451 5.7 17 815 5.6 Eastern Europe, Southern Caucasus, Russia 776 1.3 2 039 0.6 Mediterranean countries 975 1.6 7 846 2.5 ACP/OCT 591 1.0 3701 1.2 South Africa 165 0.3 811 0.3 Asia, Latin America 1 171 1.9 5 074 1.6 Partner countries 7 129 11.7 37 287 11.8 of which budgetary resources 214 1 839 Grand Total 60 880 100.0 316 954 100.0 (1) Financing operations in the members of the European Free Trade Association (EFTA) equivalent to operations in the European Union.
    [Show full text]
  • Ratings Affirmed
    Various Italian Bank Outlooks Revised To Negative After Action On Sovereign And BICRA Industry Trend; Ratings Affirmed Primary Credit Analyst: Mirko Sanna, Milan (39) 02-72111-275; [email protected] Secondary Contacts: Regina Argenio, Milan (39) 02-72111-208; [email protected] Francesca Sacchi, Milan (39) 02-72111-272; [email protected] Letizia Conversano, Dublin (39) 02-72111-283; [email protected] Alessandro Ulliana, Milan (39) 02-72111-228; [email protected] OVERVIEW • On Oct. 26, 2018, S&P Global Ratings revised to negative from stable its outlook on the 'BBB/A-2' long- and short-term ratings on the Republic of Italy following the government's planned budgetary policy deviation and the related drag on the country's already weak budgetary position and economic prospects. • Prolonged turmoil in the capital markets due to concerns about sovereign creditworthiness could impair the banks' funding profiles, potentially hiking up their cost of financing and thus reducing their profitability. • We are affirming the ratings on 19 Italian financial institutions. We are revising to negative from stable the outlooks on the ratings on 11 of these institutions. • The negative outlook on Intesa Sanpaolo and its core subsidiaries Banca IMI and Fideuram - Intesa Sanpaolo Private Banking SpA; UniCredit; Mediobanca and its core subsidiary MB Funding Lux; FCA Bank; Banca Nazionale del Lavoro; Dexia Crediop; MedioCredito Centrale; and the Italian branch of Bank of New York Mellon S.A./N.V. primarily mirrors that on Italy. • We are also revising the outlook on the Italian branches of both BNP WWW.STANDARDANDPOORS.COM/RATINGSDIRECT OCTOBER 30, 2018 1 Various Italian Bank Outlooks Revised To Negative After Action On Sovereign And BICRA Industry Trend; Ratings Affirmed Paribas S.A and BNP Paribas Securities Services to stable from positive, reflecting the action on the sovereign.
    [Show full text]
  • HALF-YEAR FINANCIAL REPORT Six Months Ended
    HALF-YEAR FINANCIAL REPORT Six months ended June 30, 2008 CONTENTS 1 HALF-YEAR BUSINESS REPORT 2 CONSOLIDATED FINANCIAL STATEMENTS 3 PERSON RESPONSIBLE FOR THE HALF-YEAR FINANCIAL REPORT 4 STATUTORY AUDITORS’ REPORT Dexia Crédit Local 1, passerelle des Reflets Tel.: +33 (0) 1 58 58 77 77 French corporation (société anonyme) with Tour Dexia La Défense 2 Fax: +33 (0) 4 58 58 70 00 capital TSA 92202 www.dexia-creditlocal.com of EUR 1,327,004,846 92919 La Défense Cedex - France www.dexia.com in the Nanterre Trade and Companies Register under B 351 804 042 VAT no.: FR 49 351 804 042 All Dexia Crédit Local businesses in France have been certified ISO 9001 1 1 HALF-YEAR BUSINESS REPORT 1.1 Business review 1.1.1 Overview 1. Dexia Crédit Local had total outstanding loans of EUR 285 billion as of June 30, 20081, up 16% over June 30, 2007 (21% excluding the unfavorable currency effect). All of the Company’s locations posted increases. FSA reported net insured capital of USD 660 billion, up 14% over June 30, 2007. 2. Total new lending amounted to EUR 37,207 million during the first half of 2008, up 61% compared with H1 2007 (71% excluding the unfavorable currency effect). • New lending to the public sector increased by 73% year-on-year to EUR 31,648 million (up 86% excluding the unfavorable currency effect). This acceleration in the rate of growth can be attributed to robust new lending in the United States (EUR 14.1 billion), which rose by 3.4x from June 30, 2007 (or 3.9x excluding the unfavorable currency effect), along with a number of extraordinary transactions in the European markets.
    [Show full text]
  • List of Supervised Entities (As of 1 September 2020)
    List of supervised entities Cut-off date for changes: 1 September 2020 Number of significant entities directly supervised by the ECB: 114 This list displays the significant supervised entities, which are directly supervised by the ECB (part A) and the less significant supervised entities which are indirectly supervised by the ECB (Part B). Based on Article 2(20) of Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014 establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (OJ L 141, 14.5.2014, p. 1 - SSM Framework Regulation) a ‘supervised entity’ means any of the following: (a) a credit institution established in a participating Member State; (b) a financial holding company established in a participating Member State; (c) a mixed financial holding company established in a participating Member State, provided that the coordinator of the financial conglomerate is an authority competent for the supervision of credit institutions and is also the coordinator in its function as supervisor of credit institutions (d) a branch established in a participating Member State by a credit institution which is established in a non-participating Member State. The list is compiled on the basis of significance decisions which have been adopted and notified by the ECB to the supervised entity and that have become effective up to the cut-off date. A. List of significant entities directly supervised by the ECB Country of LEI Type Name establishment Grounds for significance MFI code for branches of group entities Belgium Article 6(5)(b) of Regulation (EU) No 1 LSGM84136ACA92XCN876 Credit Institution AXA Bank Belgium SA ; AXA Bank Belgium NV 1024/2013 CVRWQDHDBEPUUVU2FD09 Credit Institution AXA Bank Europe SCF France 2 549300NBLHT5Z7ZV1241 Credit Institution Banque Degroof Petercam SA ; Bank Degroof Petercam NV Significant cross-border assets 54930017BFF0C5RWQ245 Credit Institution Banque Degroof Petercam France S.A.
    [Show full text]
  • Dexia Group Consolidated Results 20201
    Regulated information – Brussels, Paris, 4 March 2021 – 07.30 Dexia Group Consolidated Results 20201 Operational continuity fully assured and resilience of funding against the background of the crisis linked to the Covid-19 pandemic Priority given to the protection of teams Rapid deployment of an operational crisis unit and the exceptional commitment of staff members Resilience of funding assured without recourse to central bank facilities Reaffirmation of the going concern principle Continuing reduction and proactive management of the balance sheet Balance sheet total of EUR 114.4 billion as at 31 December 2020, down 5% over the year Implementation of the asset disposal programme under volatile market conditions: 70% of the target set for the end of 2022 already reached by the end of 2020 Advances in the simplification of the Dexia network in the United States and in Italy Net income of EUR -618 million as at 31 December 2020 against EUR -898 million as at 31 December 2019 Recurring income (EUR -475 million) integrating a contained impact of the cost of risk (EUR -169 million): good intrinsic quality of the credit portfolio less exposed to sectors sensitive to the crisis Accounting volatility items (EUR -31 million): impact of the crisis on the financial markets at the end of March attenuated in the second half of the year Non-recurring elements (EUR -112 million) principally associated with the balance sheet reduction and the Group’s transformation Robust Total Capital Ratio at 28.5% as at 31 December 2020 Pierre Crevits, CEO of Dexia, stated, “2020 has been marked by a health crisis with unprecedented social and economic repercussions.
    [Show full text]
  • INTESA SANPAOLO S.P.A
    Level: 6 – From: 6 – Thursday, February 15, 2007 – 9:53 am – mac5 – 3632 Intro : 3632 Intro PROSPECTUS INTESA SANPAOLO S.p.A. (incorporated as a società per azioni in the Republic of Italy) as Issuer and, in respect of Notes issued by Intesa Bank Ireland p.l.c. and Sanpaolo IMI Bank Ireland p.l.c., as Guarantor and INTESA BANK IRELAND p.l.c. (incorporated with limited liability in Ireland under registered number 217741) and SANPAOLO IMI BANK IRELAND p.l.c. (incorporated with limited liability in Ireland under registered number 125216) as Issuers €35,000,000,000 Global Medium Term Note Programme ___________________________________ Under the €35,000,000,000 Global Medium Term Note Programme (the “Programme”) described in this Prospectus, Intesa Sanpaolo S.p.A. (“Intesa Sanpaolo”), Intesa Bank Ireland p.l.c. (“IBI”) and Sanpaolo IMI Bank Ireland p.l.c. (“Sanpaolo IMI Bank Ireland”) (together, the “Issuers” and, each of them, an “Issuer”) may issue notes (“Notes”) on a continuing basis to one or more of the Dealers named on page 31 and any additional Dealer appointed under the Programme from time to time (each a “Dealer” and together the “Dealers”). References in this Prospectus to the “relevant Dealer” shall be, in the case of an issue of Notes to more than one Dealer, to the lead manager of such issue and, in the case of an issue of Notes to one Dealer, to such Dealer. The Notes will be constituted by an amended and restated trust deed dated 15th February, 2007 (as amended, supplemented and/or restated from time to time, the “Trust Deed”) between the Issuers and The Law Debenture Trust Corporation p.l.c.
    [Show full text]
  • La Presente Versione Del Documento Sostituisce Le Versioni Precedenti
    STRUTTURA CONTI DEI PARTECIPANTI A T2S Page 1 La presente versione del documento sostituisce le versioni precedenti/ The current version substitute the previous one NEGOZIATORE/ LIQUIDATORE/ CLIENT OF THE SETTLEMENT AGENT SETTLEMENT AGENT CONTO CODICE BIC/ DEFAULT CODICE REGOLAMENTO DI TIPO CODICE CED/ CODICE ABI/ DESCRIZIONE BREVE/ CODICE ABI/ DESCRIZIONE BREVE/ PARTY BIC BIC CODE SETTLEMENT CED/ PARENT BIC SAC T2S DEFAULT/DEFAULT NEGOZIAZIONE/ CED CODE ABI CODE SHORT DESCRIPTION ABI CODE SHORT DESCRIPTION (PARTY1) (PARTY2) AGENT CED CODE SETTLEMENT DEALING CAPACITY ACCOUNT NEFOSESSXXX 180 22548 NEONET SECURITIES AB Y 1105 3069 INTESA SANPAOLO MOTIITMMXXX BCITITM1T01 MOTIBCITITMMXXX6016200 Y B BACRIT22XXX 302 3032 CRED.EMILIANO Y 302 3032 CRED.EMILIANO MOTIITMMXXX BACRIT22XXX MOTIBACRIT22XXX0303200 Y P BACRIT22XXX 302 3032 CRED.EMILIANO Y 302 3032 CRED.EMILIANO MOTIITMMXXX BACRIT22XXX MOTIBACRIT22XXX6303200 Y T BARCIT4GXXX 303 3051 BARCLAYS BANK Y 515 3479 BPSS MOTIITMMXXX PARBITMM011 MOTIPARBITMMXXX6048200 Y B DEUTITMMXXX 308 3104 DEUTSCHE BANK Y 308 3104 DEUTSCHE BANK MOTIITMMXXX DEUTITMMXXX MOTIDEUTITMMXXX6310400 Y T DEUTITMMXXX 308 3104 DEUTSCHE BANK Y 308 3104 DEUTSCHE BANK MOTIITMMXXX DEUTITMMXXX MOTIDEUTITMMXXX0310400 Y P BLOPIT22XXX 315 3111 UBI BANCA Y 315 3111 UBI BANCA MOTIITMMXXX BLOPIT22XXX MOTIBLOPIT22XXX0311100 Y P BLOPIT22XXX 315 3111 UBI BANCA Y 315 3111 UBI BANCA MOTIITMMXXX BLOPIT22XXX MOTIBLOPIT22XXX6311100 Y T FIBKITMMXXX 317 3296 FIDEURAM S.p.A. Y 1105 3069 INTESA SANPAOLO MOTIITMMXXX BCITITM1T02 MOTIBCITITMMXXX6010500 Y T FIBKITMMXXX 317 3296 FIDEURAM S.p.A. Y 1105 3069 INTESA SANPAOLO MOTIITMMXXX BCITITM1T02 MOTIBCITITMMXXX6003800 Y P IBSPITNAXXX 339 1010 SANPAOLO B.NAPOLI Y 1105 3069 INTESA SANPAOLO MOTIITMMXXX BCITITM1T13 MOTIBCITITMMXXX6021800 Y B CITIITMXXXX 352 3566 CITIBANK N.A. Y 352 3566 CITIBANK N.A.
    [Show full text]
  • Intesa Sanpaolo Spa
    EMEA Issuer Profile 11 February 2021 Intesa Sanpaolo SpA Senior Outlook Unsecured William Hahn Moody’s Baa1 Negative Credit Research +44 20 7597 8355 S&P BBB Negative [email protected] Fitch BBB- Stable Source: Moody’s, S&P and Fitch Background and ownership Intesa Sanpaolo SpA (‘ISP’) was formed through the merger of Banca Intesa and Intesa – Key Data Sanpaolo IMI in January 2007. In 2018, Intesa announced its intention to merge with its investment-banking subsidiary Banca IMI by incorporation, which was completed in July FY20 2020. In keeping with the bank’s articulated growth strategy, Intesa made a bid for Total Assets (€bn) 1,002 domestic rival and Italy’s fifth largest bank, UBI Banca, in early 2020 and acquired full control in late-July 2020. The merger into the parent company is expected to be finalised Loan Book (€bn) 461.5 by 2Q21. With total assets of €1tr at end-2020, Intesa has become the largest banking group in Italy, ahead of the more internationally active UniCredit group. Loans to Deposits (%) 87.9 Cost to Income (%) 52.2 ISP’s activities are predominantly domestically focused where it is the market leader in retail banking, corporate banking and wealth management, with domestic market shares Net Profit (€m) 3,277 (incl. UBI) of 21% in customer loans, 22% in deposits, 25% in asset management and 24% in pension funds. ISP has also developed a sound retail banking presence in Central LCR (%) >100 and Eastern Europe (CEE) and the Middle East and North Africa (MENA) with total assets FL CET1 (%) 15.4 and lending activities making up 6% and 8.4% of the group’s total respectively.
    [Show full text]
  • Monte Titoli
    Monte Titoli PARTECIPANTI AL SERVIZIO DI RISCONTRO E RETTIFICA GIORNALIERO X-TRM - 31 maggio 2015 PARTICIPANTS IN THE X-TRM - DAILY MATCHING AND ROUTING SERVICE - 31 st May 2015 CODICE CED CODICE ABI DESCRIZIONE ANAGRAFICA INTERMEDIARIO PARTECIPANTE CED CODE ABI CODE INTERMEDIARY 2331 1003 BANCA D'ITALIA 425 1005 BANCA NAZIONALE DEL LAVORO SPA 339 1010 SANPAOLO BANCO DI NAPOLI 382 1015 BANCO DI SARDEGNA SPA 3319 1025 INTESA SANPAOLO SPA 357 1030 BANCA MONTE DEI PASCHI DI SIENA SPA 1550 2008 UNICREDIT BANCA SPA 564 3011 HIPO ALPE ADRIA BANK SPA 2187 3015 BANCA FINECO SPA 2470 3017 INVEST BANCA SPA 2281 3025 BANCA PROFILO SPA 8664 3030 DEXIA CREDIOP SPA 302 3032 CREDITO EMILIANO SPA 7504 3041 UBS (ITALIA) SPA 4197 3043 BANCA INTERMOBILIARE INV. GESTIONI SPA 1994 3045 BANCA AKROS SPA 3301 3048 BANCA DEL PIEMONTE SPA 303 3051 BARCLAYS BANK PLC 3892 3058 CHEBANCA! 1740 3062 BANCA MEDIOLANUM SPA 1105 3069 INTESA SANPAOLO SPA 547 3075 BANCA GENERALI SPA 4690 3081 UNICREDIT BANK AG 403 3083 IW BANK SPA 644 3084 BANCA CESARE PONTI SPA 560 3087 BANCA FINNAT EURAMERICA SPA 5937 3089 CREDIT SUISSE (ITALY) SPA 580 3102 BANCA ALETTI E C. SPA 308 3104 DEUTSCHE BANK SPA 315 3111 UNIONE DI BANCHE ITALIANE SCPA 2657 3124 BANCA DEL FUCINO SPA 1050 3126 GRUPPO BANCA LEONARDO SPA 3964 3127 UNIPOL BANCA SPA 1210 3138 BANCA REALE 3768 3141 BANCA DI TREVISO S.p.A. 3636 3151 HYPO TIROL BANK AG SUCCURSALE ITALIA 1862 3158 BANCA SISTEMA SPA 1770 3163 STATE STREET BANK S.p.A.
    [Show full text]
  • Saipem: Early Ending of the Offer to the Market of the Unexercised Rights
    The distribution of this press release, directly or indirectly, in or into the United States, Canada, Australia or Japan is prohibited. This press release (and the information contained herein) does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in the United States, Canada, Australia or Japan or any other jurisdiction where such an offer or solicitation would require the approval of local authorities or otherwise be unlawful (the "Other Countries"). The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or pursuant to the corresponding regulations in force in the Other Countries and may not be offered or sold in the United States unless the securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available. Saipem S.p.A. does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from Saipem S.p.A. and will contain detailed information about the company and management, as well as financial statements. Saipem: Early ending of the offer to the market of the unexercised rights San Donato Milanese (Italy), 16 February 2016 – Following the press release issued on 11 February 2016, Saipem S.p.A.
    [Show full text]
  • Le Principali Banche Italiane 298. 299
    TABELLA VI LE PRINCIPALI BANCHE ITALIANE (valori in migliaia di euro) Q U CAPITALE NETTO O SALDO RISULTATO DI TOTALE GRA- T PRINCIPALE ESER- CREDITI V/ ALTRE PROVVISTA ALTRE MARGINE COMMISSIONI E TOTALE COMPETENZA NUMERO NUMERO BANCHE ATTIVO DUA- A CATEGORIA CIZIO CLIENTELA ATTIVITA` V/ CLIENTELA PASSIVITA` di cui: DI INTERESSE ALTRI COSTI RICAVI DEGLI AZIONISTI DIPENDENTI SPORTELLI TANGIBILE TORIA T TOTALE INTERESSI E RICAVI DEL GRUPPO A DI TERZI =^ UNICREDIT . Q BREVE 2018 827.961.000 1 505.668.000 248.650.000 569.459.000 79.347.000 56.767.000 927.000 10.853.000 8.188.000 20.515.000 3.892.000 86.786 3.815 2017 833.405.000 1 447.727.000 314.695.000 564.509.000 88.812.000 60.225.000 894.000 10.298.000 8.309.000 20.578.000 5.473.000 91.952 4.778 =^ INTESA SANPAOLO . 1) Q BREVE 2018 778.624.000 2 408.135.000 300.260.000 474.525.000 150.926.000 54.431.000 407.000 7.342.000 8.522.000 17.774.000 4.050.000 92.117 5.302 2017 789.104.000 2 410.746.000 305.896.000 485.851.000 154.400.000 56.604.000 399.000 8.527.000 7.230.000 16.943.000 7.316.000 96.892 5.843 ^ INTESA SANPAOLO (gruppo INTESA SANPAOLO) ............ 2) Q BREVE 2018 525.785.000 * 255.669.000 115.525.000 287.245.000 32.378.000 47.211.000 — 4.251.000 4.793.000 12.456.000 3.686.000 47.648 3.365 2017 506.923.000 * 232.693.000 116.790.000 253.589.000 33.606.000 48.472.000 — 2.811.000 3.488.000 8.235.000 4.882.000 38.970 2.736 ^ UNICREDIT (gruppo UNICREDIT) ..............................
    [Show full text]
  • Floating) Dated April 5, 2013 Dated March 26, 2014
    FINAL TERMS BASE PROSPECTUS FINAL TERMS NO. 6543 (floating) Dated April 5, 2013 Dated March 26, 2014 SUPPLEMENTARY PROSPECTUSES Dated May 3, 2013, May 10, 2013, June 3, 2013, June 14, 2013, June 28, 2013, August 2, 2013, September 18, 2013, November 8, 2013, November 20, 2013, February 3, 2014 and March 4, 2014 GENERAL ELECTRIC CAPITAL CORPORATION ISSUE OF EURO MEDIUM-TERM NOTES U.S.$ Floating Rate Notes Due 2020 Any person making or intending to make an offer of the Notes may only do so: (i) in the Public Offer Jurisdiction mentioned in Part B below, provided such person is of a kind specified in that paragraph and that the offer is made during the Offer Period specified in that paragraph; or (ii) otherwise in circumstances in which no obligation arises for the Issuer or any Manager to publish a prospectus pursuant to Article 3 of the Prospectus Directive or to supplement a prospectus pursuant to Article 16 of the Prospectus Directive, in each case, in relation to such offer. Neither the Issuer nor any Manager has authorized, nor do they authorize, the making of any offer of Notes in any other circumstances. The expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive, to the extent implemented in the Relevant Member State) and includes any relevant implementing measure in the Relevant Member State and the expression "2010 PD Amending Directive" means Directive 2010/73/EU. PART A CONTRACTUAL TERMS Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the above referenced Base Prospectus and the supplemental Prospectuses dated May 3, 2013, May 10, 2013, June 3, 2013, June 14, 2013, June 28, 2013, August 2, 2013, September 18, 2013, November 8, 2013, November 20, 2013, February 3, 2014 and March 4, 2014 which together constitute a base prospectus for the purposes of the Prospectus Directive (the "Base Prospectus").
    [Show full text]