UniCredit

UniCredit Group
UniCredit S.p.A.
	230px
Type	Società per azioni
Traded as	BIT: UCG; FWB: CRI; WSE: UCG
Industry	Financial services
Founded	1998; 1473 (as Rolo Banca)[citation needed]; 1870 (as Banca di Genova)[citation needed]; 1895 (as Credito Italiano)[citation needed]
Headquarters	Porta Nuova Business District, Milan, Italy; EUR, Rome, Italy
Key people	Giuseppe Vita (Chairman), Federico Ghizzoni (CEO)
Products	Corporate, retail and private banking, asset management, securities trading
Revenue	€52,3 billion
Operating income	€5.722 billion (3q2013)
Profit	-€15.0 billion (4q2013)
Total assets	€949.769 billion (3q2013)
Total equity	€61.303 billion (3q2013)
Number of employees	148,341 (FTE, 2013)
Website	www.unicreditgroup.eu

UniCredit Group is an Italian global banking and financial services company. Its network spanning 50 markets in 17 countries, with more than 8,500 branches and over 147,000 employees.^[3] Its strategic position in Western and Eastern Europe gives the group one of the region's highest market shares. The company is a component of the Euro Stoxx 50 stock market index.^[4]

Geography

The company has its registered office in Rome and general management in Milan.^[5] UniCredit's core markets are Italy, Austria, Russia, Southern Germany and Bulgaria. The UniCredit Group has investment banking divisions in New York, London, Hong Kong, Milan, Munich, Vienna, Budapest and Warsaw.

With the goal of fostering trade and investment between Eastern and Western Europe, UniCredit has joined up with Ost-Ausschuss der Deutschen Wirtschaft and the Federal State of Berlin to host the east forum Berlin.^[6]

UniCredit Bulbank Headquarters in Sofia, Bulgaria.

UniCredit Headquarters in EUR, Rome

UniCredit in Vilnius, Lithuania

History

UniCredit Group was the outcome of the 1998 merger of several Italian banks, which the majority one were Unicredito (banks from Turin, Verona and Treviso) and Credito Italiano, hence the name Unicredito Italiano. Other banks such as Banca dell'Umbria, Cassa di Risparmio di Carpi, Cassa di Risparmio di Trento e Rovereto (Caritro), Cassa di Risparmio di Trieste also merged into the group in 1998–99.

In 1999, UniCredito Italiano, as it was then known, began its expansion in Eastern Europe with the acquisition of Polish Bank Pekao.

In 2005, UniCredit merged with the German group HVB, which is itself formed in 1998 by the combination of two Bavarian banks: Bayerische Vereinsbank and Bayerische Hypotheken-und Wechsel-Bank. Integration with the HVB Group was reinforced by the merger with Bank Austria Creditanstalt in the year 2000 and enabled further growth for the UniCredit Group. However, this merger was only marginally profitable. Additionally, Bank Austria Creditanstalt was a major shareholder in Bank Medici AG. Bank Medici was Thema Fund's investment manager.^[7] In return for finding investors, Bank Medici collected fees of 4.6 million euros from Thema International Fund in 2007.^[8] Following the news that Bank Medici had invested US$2 billion with Bernard Madoff, officials in Vienna appointed a supervisor to run the private bank, raising questions about control of the sprawling group.

In 2007, in combination with the Capitalia Group, the third-largest Italian banking group; UniCredit Group consolidated and strengthened its position, but added considerably to its overhead costs. In the same year, two more acquisitions were carried out: ATF Bank, which ranks fifth out of domestic banks in Kazakhstan with 154 branches, and Ukrsotsbank, a universal bank. With these two banks the Group extended its operations in this area to 19 countries (including Central Asia). However, in November 2012, Kazakh government sources declared UniCredit is in talks with Kazakh investors over the sale of a controlling stake in ATF Bank.^[9]

In 2013 UniCredit Finance informed that they would no longer provide banking services in Latvia.^[10]

On March 14, 2014 UniCredit announced that it expects to cut around 8.500 jobs upcoming time, together with the announcement of an 15 billion loss in the 4th quarter of 2013 due to extensive cash-reserving for bad loans and writing down goodwill from acquisitions.^[11] UniCredit is one of the 6 European banks which is currently most exposed to potential problems in the emerging markets.^[12]

UniCredit Group also controls the Banco di Sicilia Group which is one of the oldest Italian banks.

In April 2015 UniCredit SpA and Banco Santander SA reached an agreement to merge their asset-management businesses in a transaction valuing the combined entity at about 5.4 billion euros ($5.8 billion). The accord created a holding company called Pioneer Investments that is 50 percent owned by UniCredit and 50 percent held by the U.S. buyout firms Warburg Pincus LLC and General Atlantic LLC. The holding firm owns Pioneer’s U.S. business and controls combined operations of UniCredit’s Pioneer, excluding its U.S. activities, and Santander Asset Management. The two lenders hold each one third of the new combined business, while Warburg Pincus and General Atlantic owns the rest. ^[13]

Ownership

Shareholders owning more than 2% (September 2015):^[14]

5.04% – Aabar Investments
4.65% – BlackRock Inc.
3.46% – Fondazione Cassa di Risparmio Verona, Vicenza, Belluno e Ancona
2.92% – Central Bank of Libya
2.52% – Fondazione Cassa di Risparmio di Torino
2.00% – People's Bank of China

On 11 March 2011, Unicredit said in a press release that they froze the voting rights of the Libyan shareholders (Central Bank of Libya and Lia).^[15]

References

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External links

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[10] ttp://www.baltic-legal.com/banking-in-latvia-list-of-banks-unicredit-bank-eng.htm Unicredit stopped banking services in Latvia – Baltic Legal

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v t e Banking in Italy
Central bank	Banca d'Italia European Central Bank
Public banks	Cassa Depositi e Prestiti CDP Reti Poste italiane BancoPosta Banca del Mezzogiorno – MedioCredito Centrale Istituto per il Credito Sportivo Banca Mediocredito del Friuli Venezia Giulia Investitionsbank Trentino Südtirol – Mediocredito Trentino Alto Adige Finaosta Fincalabra Finlombarda Finmolise Finpiemonte Fidi Toscana FIRA Gepafin IRFIS – FinSicilia Sviluppo Basilicata SFIRS Veneto Sviluppo Italian National Resolution Fund Nuova Banca delle Marche Cassa di Risparmio di Loreto Nuova Banca Etruria Nuova CariChieti Nuova Carife
Global banks (Supervised by ECB)	UniCredit FinecoBank Intesa Sanpaolo Banca IMI Mediocredito Italiano Banca CR Firenze Banco di Napoli CariFVG Carisbo Caript Cariromagna CR Veneto Casse dell'Umbria
Nationwide and multi-regional banks (Supervised by ECB)	Banca Monte dei Paschi di Siena MPS Capital Services Banco Popolare Banca Aletti UBI Banca Banco di Brescia Banca Carime Banca Popolare di Ancona Banca Popolare di Bergamo Banca Popolare Commercio e Industria Banca Regionale Europea Banca di Valle Camonica IWBank Mediobanca Compass Banca Esperia Banca Popolare dell'Emilia Romagna Banco di Sardegna Banca di Sassari Cassa di Risparmio di Bra Cassa di Risparmio di Saluzzo Banca Popolare di Milano Banca Popolare di Mantova Atlante Banca Popolare di Vicenza Banca Nuova FarBanca Banca Carige Banca del Monte di Lucca Veneto Banca Banca Apulia Banca Intermobiliare Credito Emiliano Banca Popolare di Sondrio
Multi-regional (total assets €30b to €8b)	Credito Valtellinese Cassa di Risparmio di Fano Credito Siciliano Banca Mediolanum Banca Popolare di Bari Cassa di Risparmio di Orvieto Banca Sella Holding Banca Sella Banca Patrimoni Sella Banco di Desio e della Brianza Banca Popolare di Spoleto Unipol Banca Banca di Asti Biverbanca Südtiroler Volksbank – Banca Popolare dell'Alto Adige Südtiroler Sparkasse – Cassa di Risparmio di Bolzano
Multi-regional and regional cooperative bank (Popolari banks)	Banca Agricola Popolare di Ragusa Banca Valsabbina Banca Popolare di Puglia e Basilicata Banca Popolare di Cividale Cassa di Sovvenzioni e Risparmio fra il Personale della Banca d'Italia Banca Popolare Pugliese Banca di Piacenza Banca di Credito Popolare Banca Popolare del Lazio Banca Popolare del Cassinate Banca Popolare Valconca Banca Popolare Etica Banca Popolare Sant'Angelo Sanfelice 1893 Banca Popolare Banca Popolare di Lajatico Banca Popolare di Fondi Banca Popolare del Frusinate
Co-operative banks (BCC) and central banks	Federcasse central banks Istituto Centrale delle Casse Rurali ed Artigiane Raiffeisen Landesbank Südtirol – Cassa Centrale Raiffeisen dell'Alto Adige Cassa Centrale Banca - Credito Cooperativo del Nord Est member banks BCC Roma Banca d'Alba Banca del Territorio Lombardo Credito Cooperativo Ravennate e Imolese Banca di Cambiano Emilbanca BCC di Brescia BCC di Carate Brianza BCC Banca Centropadana ChiantiBanca Cassa Padana Cassa Rurale ed Artigiana di Cantù Cassa Rurale Treviglio Banca Alpi Marittime Credito Cooperativo Carrù BCC Prealpi BCC Carugate e Inzago Banca della Marca Banca di Pisa e Fornacette Banca San Giorgio Quinto Valle Agno BCC del Garda Cassa Rurale ed Artigiana di Brendola Banco Emiliano Cassa Rurale di Trento Banca Malatestiana Banca di Bologna Cassa Rurale Alto Garda Banca Sviluppo Banca del Centroveneto Crediveneto Cassa Rurale di Rovereto Banca di Cherasco Romagna Est Banca Banca di Caraglio Banca di Forlì BCC G. Toniolo di San Cataldo BCC di Monastier e del Sile BCC Pordenonese BancAdria BCC Agrobresciano Banca Versilia Lunigiana e Garfagnana Banca Santo Stefano BCC Barlassina BCC Binasco Cassa Rurale Giudicarie Valsabbia Paganella BCC Castagneto Carducci CrediFriuli Mantovabanca 1896 Banca CRAS BCC Busto Garolfo e Buguggiate Banca del Veneziano Banca Cremonese Rovigo Banca BCC Banca Annia BCC di Fano BCC Piove di Sacco BCC di Calcio e di Covo BCC di Sant'Elena BCC Vignole e Montagna Pistoiese Cassa Rurale Lavis Valle di Cembra Banca della Bergamasca Banca di Rimini Cassa Rurale di Pergine BCC di Conversano Banca San Biagio del Veneto Orientale Bene Banca BCC Sesto San Giovanni CRA BCC di Battipaglia e Montecorvino Rovella Cassa Rurale di Aldeno e Cadine Credito Valdinievole Banca Valdichiana BCC di Caravaggio BCC Gradara BCC di Manzano BCC di Anagni BCC Filottrano BCC Valdostana BCC di San Marzano di San Giuseppe Banca Picena Truentina BCC Friulovest Banca BCC Palestrina BCC di Casalgrasso e Sant'Albano Stura BCC Mediocrati BCC Staranzano e Villesse BCC dell'Alta Brianza - Alzate Brianza CentroMarcaBanca BCC di Castiglione Messer Raimondo e Pianella Banca di Viterbo BCC Pratola Peligna Banca di Pistoia Fondo di Garanzia dei Depositanti del Credito Cooperativo
Regional retail bank	Cassa di Risparmio di Ravenna Banco di Lucca e del Tirreno Banca di Imola Cassa di Risparmio di Cesena Banca Carim Cassa di Risparmio di San Miniato Cassa di Risparmio di Cento Cassa di Risparmio di Volterra Banca Passadore Hypo Alpe-Adria-Bank Banca Sistema Cassa di Risparmio di Fossano Banca Profilo Banca del Fucino Cassa di Risparmio di Fermo Banca del Piemonte Banca CR Savigliano Banco Azzoaglio
others	Banca Generali Banca IFIS Banca Finnat Banca Ubae Banca Leonardo Banca Farmafactoring Unione Fiduciaria Credito Fondiario
Foreign banks	Allianz Allianz S.p.A. Barclays Banco Santander Bank of China BNP Paribas Banca Nazionale del Lavoro Crédit Agricole Cariparma FriulAdria Carispezia FCA Bank Credit Suisse Deutsche Bank Deutsche Bank S.p.A. Dexia Crediop Fortress doBank Italfondiario GE Capital Interbanca HSBC ING Bank Société Générale Mercury Istituto Centrale delle Banche Popolari Italiane Setefi
Ancient banks	Bank of Saint George Banco di Santo Spirito Istituto Bancario San Paolo di Torino Medici Bank Mount of piety Foggia Parma Reggio Emilia
Related topics	List of banks in Italy Associazione Bancaria Italiana Associazione di Fondazioni e di Casse di Risparmio S.p.A. Associazione Nazionale fra le Banche Popolari Fondo Interbancario di Tutela dei Depositi

v t e Members of Euro Banking Association
Austria	Allgemeine Sparkasse Oberosterreich Bank für Tirol und Vorarlberg AG BKS Bank AG Erste Group Bank AG Oberbank AG Oesterreichische Nationalbank Raiffeisen Zentralbank Österreich AG Raiffeisenlandesbank Oberösterreich AG Raiffeisen-Landesbank Tirol Aktiengesellschaft Steiermärkische Bank und Sparkassen AG
Belgium	Dexia Bank NV KBC Bank NV Bank van De Post
Cyprus	Bank of Cyprus Hellenic Bank
Denmark	Amagerbanken A/S Arbejdernes Landsbank A/S Danske Andelskassers Bank A/S Danske Bank A/S DiBa Bank A/S Djurslands Bank A/S Jyske Bank A/S Nordjyske Bank A/S Nørresundby Bank Østjydsk Bank A/S Ringkøbing Landbobank Roskilde Bank A/S Skjern Bank Spar Nord Bank Sparekassen Sjælland Sydbank A/S Vestfyns Bank A/S Vestjysk Bank
Finland	Aktia Bank PLC Bank of Åland PLC Pohjola Bank PLC S-Bank LTD. Tapiola Bank LTD
France	Banque Michel Inchauspé - BAMI Banque Palatine BNP Paribas SA BPCE BRED Banque Populaire Crédit Agricole SA Crédit Coopératif Crédit du Nord Crédit Mutuel Arkéa Credit Mutuel CIC Banque HSBC France La Banque postale Natixis Société Générale
Germany	Berenberg Bank BHF Bank Bremer Landesbank Commerzbank AG Deutsche Bank AG Deutsche Bundesbank Deutsche Postbank DZ Bank AG Europe Arab Bank Frankfurt Hamburger Sparkasse AG J.P. Morgan Chase Bank AG Landesbank Baden-Württemberg Landesbank Berlin Holding Landesbank Hessen-Thüringen Oldenburgische Landesbank SECB Swiss EURO CLEARING Bank GmbH The Bank of New York Mellon, Frankfurt Branch VTB Bank (Deutschland) AG
Greece	Alpha Bank SA Eurobank Ergasias SA National Bank of Greece SA Piraeus Bank SA
Hungary	Magyar Nemzeti Bank OTP Bank FHB Mortgage Bank Merkantil Bank Kereskedelmi és Hitelbank Magyar Takarékszövetkezeti Bank MKB Bank Porsche Bank Hungaria Kinizsi Bank MagNet Bank Hanwha Bank Budapest Hitel- és Fejlesztési Bank
Ireland	Allied Irish Banks Bank of Ireland
Italy	Banca Agricola Popolare di Ragusa Banca del Fucino Banca del Piemonte Banca delle Marche Banca di Imola Monte dei Paschi di Siena Banca Nazionale del Lavoro Banca Popolare del Lazio Banca Popolare dell'Emilia Romagna Banca Popolare di Milano Banca Popolare di Sondrio Banca Popolare di Vicenza Banca Sella Banco Popolare Cassa di Risparmio della Provincia di Chieti Cassa di Risparmio della Provincia di Teramo Cassa di Risparmio di Cesena Cassa di Risparmio di Fermo Cassa di Risparmio di Ferrara Cassa di Risparmio di Loreto Cassa di Risparmio di Ravenna Credito Emiliano Credito Valtellinese ICCREA Banca Intesa Sanpaolo Istituto Centrale delle Banche Popolari Italiane Raiffeisen Landesbank Südtirol – Cassa Centrale Raiffeisen dell'Alto Adige Südtiroler Volksbank – Banca Popolare dell'Alto Adige UBI Banca UniCredit Veneto Banca
Luxembourg	Banque et Caisse d'Épargne de l'État Banque Raiffeisen Dexia Banque Internationale à Luxembourg SA KBL European Private Bankers Société Générale Bank & Trust
Netherlands	ABN Amro Bank NV De Nederlandsche Bank ING Bank NV Rabobank Nederland
Poland	Bank BPH SA Narodowy Bank Polski
Portugal	Banco BPI SA Banco Comercial Português Crédito Agrícola Caixa Geral de Depósitos Novo Banco
Slovenia	Banka Slovenije
Spain	Banco Bilbao Vizcaya Argentaria, S.A. Banco Popular Español, S.A. Banco Sabadell, S.A. Bankinter, S.A. Banco Santander, S.A. CaixaBank, S.A. (La Caixa) Catalunya Banc, S.A. (CatalunyaCaixa) Kutxabank, S.A. ABANCA Corporación Bancaria, S.A. (Abanca) Caja Laboral Popular, Cooperativa de Crédito (Caja Laboral) Banco Cooperativo Español, S.A. (Caja Rural) CECABANK, S.A.
Sweden	Skandinaviska Enskilda Banken Svenska Handelsbanken Swedbank AB Nordea Bank AB
United Kingdom	Bank of Tokyo-Mitsubishi UFJ Ltd. Barclays Bank PLC Citibank NA DnB NOR Bank (NOR) HSBC Bank PLC JPMorgan Chase Bank, N.A., London Branch Kookmin Bank International Ltd. Lloyds Bank PLC MashreqBank psc (UAE) Royal Bank of Scotland PLC UBS AG Wells Fargo Bank NA
Non-EU	Bank of China (CHN)

v t e 50 largest banks in Russia in terms of net assets
In alphabetical order, as of December 2014
Absolut Bank Ak Bars Alfa-Bank Bank of Moscow Bank Saint Petersburg B&N Bank Citibank Credit Bank of Moscow Credit Europe Bank Eastern Express Bank Gazprombank Globexbank Home Credit Bank ING Bank Khanty-Mansiysk bank Otkritie MDM Bank Mosoblbank Moscow Industrial Bank MTS Bank National Bank Trust National Clearing Centre Nordea Novikombank Otkritie FC Bank OTP Bank Petrocommerce Promsvyazbank Raiffeisenbank Renaissance Credit Rosbank Rosevrobank Rosselkhozbank Rossiya Rossiyskiy Kredit Rossiysky Capital Russian Standard Bank Sberbank SMP Bank Sovcombank Sviaz-Bank Tatfondbank Transcapitalbank UniCredit Ural Bank for Reconstruction and Development Uralsib V.Bank Vneshprombank VTB VTB 24 Zenit
Source: Banki.ru

UniCredit

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v t e 15 largest banks in Ukraine in terms of total assets
Alfa-Bank Delta Bank Finance and Credit First Ukrainian International Bank Nadra Bank OTP Bank PrivatBank Prominvestbank Raiffeisen Bank Aval Sberbank of Russia State Export-Import Bank of Ukraine State Savings Bank of Ukraine UkrSibbank UniCredit VTB
In alphabetical order, as of January 1, 2015. Source: National Bank of Ukraine