Banca Popolare di Novara
| Company type | Cooperative bank (originally), later subsidiary |
|---|---|
| Industry | Banking |
| Founded | 1871 |
| Defunct | 2011 (as independent company) |
| Fate | Integrated into Banco Popolare |
| Successor | Banco Popolare division and brand |
| Headquarters | Novara , Italy |
Area served | Piedmont, Apulia, Campania, Basilicata, Molise, Central-Southern Italy |
| Products | Banking services |
| Owner | Banco Popolare (parent company) |
| Parent | Banco Popolare |
Banca Popolare di Novara was an Italian cooperative bank headquartered in Novara, Piedmont. It was integrated into its parent company Banco Popolare in 2011 (which later merged in 2017 to create Banco BPM), yet it remains active as a division and brand within the larger group.
History
Established in 1871, Banca Popolare di Novara Società Cooperativa a Responsabilità Limitata was the original entity. The bank once held a minority interest in Mediocredito Piemontese, which it sold to UniCredit in 2001.
At the close of 2001, BPN's standalone financial statements showed total assets amounting to €20.2 billion and net equity of €1.63 billion.
During 2001, the institution ranked 18th nationwide in Italy for deposit volumes (€14.7 billion), trailing behind Banca Popolare di Verona – SGSP, which held the 13th position with deposits totaling €20.4 billion.
BPVN era
The year 2002 saw BPN merge with Banca Popolare di Verona – Banco S. Geminiano e S. Prospero S.c.a r.l. (BPV–SGSP). Shareholders from BPN became part-owners of the newly formed Banco Popolare di Verona e Novara S.c.a r.l. (BPVN). Subsequently, BPN's original branch network was reorganized into a subsidiary named Banca Popolare di Novara S.p.A., transitioning from a cooperative limited partnership structure to a joint-stock company.
Banco Popolare era
In 2007, BPVN combined with Banca Popolare di Lodi S.c.a r.l., resulting in the creation of Banco Popolare S.C., which served as the holding entity. By 2008, the group restructured its branch network, designating BPN to concentrate its operations primarily in Piedmont, Apulia, Campania, Basilicata, and Molise.
Although BPN was fully merged into Banco Popolare in 2011, it continued functioning as a division within the group, incorporating Banco Popolare Siciliano (previously part of the BPL division) and managing activities across Central-Southern Italy.
Sponsorship
The bank served as a sponsor for Novara Calcio.