Banca Agricola Mantovana
| Company type | Subsidiary (formerly cooperative society and joint-stock company) |
|---|---|
| Industry | Financial services |
| Founded | 1871 |
| Defunct | 21 September 2008 |
| Fate | Integrated into Banca Monte dei Paschi di Siena |
| Headquarters | Mantua , Italy |
Area served | Italy |
| Products | Banking, insurance (through Quadrifoglio Vita) |
| Parent | Banca Monte dei Paschi di Siena (from 1999 to 2008) |
Banca Agricola Mantovana S.p.A. (BAM), an Italian financial institution headquartered in Mantua, Lombardy, functioned as a subsidiary of Banca Monte dei Paschi di Siena (Banca MPS). By 31 March 2008, BAM's total assets were reported to be around €13.5 billion.
History
Established in 1871 under the name Banca Agricola Provinciale Mantovana, BAM began its operations as a cooperative bank located in Mantua. The bank expanded its reach through several mergers, notably incorporating Banca Mutua Popolare di Mantova in 1932 and acquiring Banca Operaia di Bologna in 1989.
In 1998, BAM partnered with Unipol to launch Quadrifoglio Vita, an insurance firm distributed via BAM’s branch network. Additionally, BAM secured a 5.6% equity interest in Finsoe, the intermediate holding company of Unipol.
The acquisition of BAM by Banca MPS took place in 1999, leading to BAM’s conversion from a cooperative society into a joint-stock company by the year 2000. Banca MPS progressively increased its shareholding from 51.5% in 2000 to complete ownership by 2003, during which it also took over Banca Toscana. It is worth mentioning that Sanpaolo IMI maintained an 8.49% minority shareholding in BAM until it sold this stake to Banca MPS for €206 million in 2001.
On 21 September 2008, BAM was fully integrated into Banca MPS. That same year saw Quadrifoglio Vita becoming a joint venture between AXA and Banca MPS, coinciding with Banca MPS’s divestment of its Finsoe shares, thereby ending its direct association with Unipol.
Sponsorship
Banca Agricola Mantovana was the sponsor for round 7 of the 1984 Italian Formula Three season.
Foundation
In 2000, both Banca Agricola Mantovana and Banca Monte dei Paschi di Siena established Fondazione Banca Agricola Mantovana, an autonomous philanthropic foundation.
See also
External links
- Articles with short description
- Defunct banks of Italy
- Former Montepaschi subsidiaries
- Banks established in 1871
- Italian companies established in 1871
- Banks disestablished in 2008
- Italian companies disestablished in 2008
- Companies based in Mantua
- Defunct cooperative banks of Italy
- Companies formerly listed on the Borsa Italiana
- European bank stubs