Unicredit

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  UniCredit SpA
logo
Country ItalyItaly Italy
Seat Milan
legal form Società per azioni
ISIN IT0005239360
BIC UNCRITMMXXX
founding 1998
Website www.unicreditgroup.eu
Business data 2019
Total assets EUR 855.65 billion
Employee 84,245
management
Board Cesare Bisoni
Corporate management

Jean Pierre Mustier

The UniCredit SpA is an Italian bank and holding company of financial services company based in Milan . In addition to Italy, the most important field of activity is in particular Central and Eastern Europe , where subsidiaries of the group are market leaders in several countries .

The bank is one of the 30 major banks that have been classified by the Financial Stability Board (FSB) as a systemically important financial institution . It is therefore subject to special monitoring and stricter requirements for the endowment with equity .

history

Torre Unicredit in Milan

Unicredit has a history that can be traced back to the 15th century, as demonstrated by the foundation of Monte di Pietà di Bologna in 1473.

One of the predecessor banks, the Banca di Genova , was founded as a listed institute in 1870. In 1895 it changed its name to Credito Italiano and over time developed into the second largest Italian bank.

A fundamental reform of the Italian banking market began in Italy in the early 1990s. In order to enable the privatization of the Italian savings banks, Lex Amato (1990) prescribed a clear separation between banking and non-profit mandates. As a result of these reforms, the traditional stock corporation Credito Italiano initiated and carried out a merger process.

In 1994 RAS took a 5% stake in the recently privatized Credito Italiano, and at the same time appointed Alessandro Profumo , who took over the position of CEO in 1997 , to the bank's board of directors. Profumo has been in control of the bank's history since then.

In 1998 Credito Italiano merged with the Bologna regional bank Rolo Banca (ex Credito Romagnolo ), founded in 1473 and recently privatized, to form the Credito Italiano Group. With the integration of six other former savings banks, namely Cariverona (Cassa di Risparmio di Verona) - Verona , Cassa di Risparmio di Torino (CRT) - Turin , Cassamarca - Treviso , Cassa di Risparmio di Trento e Rovereto - Trento / Rovereto and Cassa di Risparmio di Trieste - Trieste , the Unicredito Italiano Group was born. In 1999 the Bank of Spain prohibited the purchase of Banco Bilbao Vizcaya Argentaria (BBVA) .

The global investment business acquired from Boston-based Pioneer Investments in 2000 was assigned to the activities of the private banking division. Unicredito Italiano achieved a leading position in the Italian consumer credit sector with its subsidiary Unicredit Family Financing SpA (formerly Clarima Banca; Unicredit Consumer Financing ), which was founded in the same year .

When Unicredito Italiano was renamed Unicredit Banca in 2002, the bank was restructured in the form of a divisional model. Three new banks were founded, specializing in the various customer groups - Unicredit Banca ( Bologna ) looks after mass business in the form of private customers and smaller companies; the Unicredit Private Banking ( Turin ) takes care of private and investment from wealthy clients; and Unicredit Banca d'Impresa ( Verona ) deals with medium and large companies and other institutions.

The international expansion began with acquisitions in Central and Eastern Europe ( Poland , Croatia , Bosnia , Bulgaria , Turkey , Slovakia , Romania ). On June 12, 2005, the takeover of Bayerische Hypo- und Vereinsbank AG (HVB) resulted in the largest cross-border bank merger in Europe to date : Unicredit was the first foreign bank to acquire a German bank in the form of a friendly takeover by means of a share swap. Unicredit had already started the first attempt to buy out in Germany in 2001 with Commerzbank AG , but at that time it failed because of the shareholders. Following the merger, Unicredit boss Alessandro Profumo took over the chairmanship of the supervisory board at HVB and handed over this chairmanship to his deputy Sergio Ermotti at the beginning of 2009 .

With the takeover of HypoVereinsbank, Bank Austria , the largest bank in Austria, acquired by it in 2000 , was transferred from HVB to the parent company, and the bundling of the entire Eastern and Central European business of the predecessor groups under the umbrella of Bank Austria (today UniCredit Bank Austria AG ). In this context, further changes were made within the group: The Unicredit Group merged its business in Poland through the merger of Bank BPH (takeover of the stake by Bank Austria) with Bank Pekao under Bank Pekao SA . The investment banking business of the group were in the Division Unicredit Markets & Investment Banking bundled and settled among the Bayerische Hypo- und Vereinsbank AG.

In April 2007, Unicredit announced that discussions were taking place with the French Société Générale (SG). However, this is not about merger negotiations, but about "the usual open discussions about strategic growth opportunities". The media had previously reported that Unicredit was considering a purchase offer for SG. A result of the negotiations was not published, they wanted to wait for the French presidential election. In May 2007, Unicredit announced the merger with the Italian financial group Capitalia and thus postponed any plans with SG. In Italy, the merger made Unicredit the market leader. Unicredit spent around 20 billion euros on Capitalia by swapping shares . Synergy effects of 1.2 billion euros were expected by 2010; the cost of the merger was put at 1.1 billion euros. In addition, earnings per share were expected to rise from 14% to 17%. The merger was completed on October 1, 2007. The new Unicredit has 40 million customers and over 170,000 employees. In 2007 Unicredit also took over other banks, such as the Kazakh ATFBank and the Ukrainian Ukrsotsbank , to expand business activities in Eastern Europe. The business areas of investment funds and asset management of Unicredit were combined in 2007 under the brand name Pioneer Investments .

In 2008, Managing Director Alessandro Profumo presented a three-year plan for the group. This planning included the concentration of jobs and the opening of additional branches in Eastern European countries. In addition, the company logos have been standardized in all countries of the Unicredit Group. To strengthen the group, a capital increase was announced in October 2008 , which institutional and major investors supported 100% with a subscription commitment and which was carried out in full in January 2009.

As announced in 2010, the Board of Directors approved the merger of the subsidiary banks Unicredit Corporate Banking , Unicredit Private Banking , Unicredit Family Financing Bank and Unicredit Bancassurance Management & Administration . Unicredit Banca , Unicredit Banca di Roma and Banco di Sicilia will remain in place.

After criticizing the bank's commitment to Libya , Alessandro Profumo stepped down as CEO of the Unicredit Group in 2010. In September 2010, the management was provisionally transferred to Dieter Rampl ; he was given the task of finding a successor for Profumo.

On September 30th, Federico Ghizzoni was unanimously appointed as the new CEO of Unicredit by the Board of Directors.

On November 14, 2011, after a massive loss of just under 11 billion euros in the third quarter, Unicredit announced a new strategic direction, a capital increase of 7.5 billion euros and several thousand job cuts, including the German Unicredit Bank was affected. The dividend was canceled.

Key figures

In a bank comparison based on market capitalization, Unicredit ranks 14th in Europe as of May 31, 2018.

As of December 31, 2018:

Corporate management

Board of Directors
Surname position
Cesare Bisoni Chairman
Lamberto Andreotti Deputy Chairman
Jean Pierre Mustier Group Chief Executive Officer
Gianpaolo Alessandro Head of Group Legal - Secretary of the Board of Directors
Mohamed Hamad Al Mehairi Director
Sergio Balbinot Director
Vincenzo Cariello Director
Elena Carletti Director
Isabelle de Wismes Director
Stefano Micossi Director
Maria Pierdicchi Director
Francesca Tondi Director
Alexander Wolfgring Director
Elena Zambon Director

Corporate structure

Shareholder structure

Unicredit shares are in free float . The following shareholders each own more than 2% of the company shares (as of January 2019):

Holdings

Unicredit holds stakes in various companies in the financial services sector. The most important are (as of September 2009):

See also

Web links

Commons : Unicredit  - collection of pictures, videos and audio files

Individual evidence

  1. ↑ Entry in the BIC directory at SWIFT
  2. ↑ unicreditgroup.eu - 2019 Annual Report and Accounts
  3. ^ Policy Measures to Address Systemically Important Financial Institutions. In: Financial Stability Board (FSB) of November 4, 2011 (PDF file; 105 kB)
  4. ↑ Update of the group of global systemically important banks (G-SIBs) (PDF; 43 kB) from November 1, 2012
  5. ^ Süddeutsche Zeitung: Unicredit takes over HypoVereinsbank , queried on August 7, 2010
  6. ↑ BA-CA takes over the Kazakh ATF bank . newsticker, orf.at , undated
  7. ↑ Ad hoc announcement / Ad hoc release according to § 15 WpHG / pursuant to § 15 of the German Securities Trading Act - Shareholders' agreement on BA-CA's role within UniCredit Group, to be summitted to the competent bodies of the respective parties . Unicredit Group, March 14, 2006.
  8. ↑ Unicredit is building its investment banking activities into a single division . Unicredit Group, May 15, 2006. (English)
  9. ↑ HVB is pressing ahead with renovation . In: Handelsblatt , September 4, 2009.
  10. ↑ Financial Times :: Hartn% E4ckige% 20Ger% FCchte% 20Unicredit% 20Soci% E9t% E9% 20G% E9n% E9rale / 189718.html Rumors about Unicredit and Société Générale ( Memento of June 13, 2006 in the Internet Archive ).
  11. ↑ Unicredit Group: Unicredit - About us - Unicredit at a glance (English)
  12. ↑ Unicredit boss Profumo submits resignation - NZZ September 2010.
  13. ↑ commercial journal
  14. ↑ Press release from September 22, 2010
  15. ↑ Press release of September 30, 2010
  16. ↑ statista.com - Largest banks in Europe by market capitalization in 2018
  17. ↑ unicreditgroup.eu - FY18 Results
  18. ↑ unicreditgroup.eu - 2018 Integrated Report
  19. ↑ unicreditgroup.eu - Financial Highlights
  20. ↑ finanzen.net - Unicredit share
  21. ↑ Shareholder structure . unicreditgroup.eu, as of January 25, 2019, accessed on March 23, 2019.

Coordinates: 45 ° 29 ′ 2.2 "  N , 9 ° 11 ′ 23.7"  E