Banca Popolare di Spoleto
| Company type | Subsidiary (società per azioni) |
|---|---|
| Industry | Financial services |
| Founded | April 28, 1895 in Spoleto, Italy |
| Founder | Giulio Cesari and associates |
| Headquarters | Spoleto , Italy |
Area served | Italy |
| Parent | Banco di Desio e della Brianza |
Banca Popolare di Spoleto S.p.A. is an Italian financial institution located in Spoleto, Umbria, operating as a subsidiary of Banco di Desio e della Brianza.
History
The bank was originally established on 28 April 1895 by Giulio Cesari and associates under the name Banca Cooperativa Popolare in Spoleto. In 1992, it transformed into a joint-stock company (società per azioni), adopting the name Banca Popolare di Spoleto S.p.A.. By 1998, Credito Italiano had acquired a majority share of 50.71%, while the initial cooperative entity was renamed "Popolare Spoleto - Credito e Servizi."
In 1996, the bank debuted on the Borsa Italiana, but Credito Italiano divested its holdings by mid-1998. By the close of that year, Spoleto Credito e Servizi controlled 53.11% of shares, with Banca Monte dei Paschi di Siena (Banca MPS) and its affiliate owning about 26%. Despite subsequent capital increases, Banca MPS retained approximately a 26% stake through 2005.
As of December 2012, Banca Popolare di Spoleto's Tier 1 capital ratio stood at 6.45%. The bank underwent extraordinary administration under Italy's Ministry of Economy and Finance from February 2013 until July 2014. On 1 April 2014, Banco di Desio e della Brianza injected €140 million via capital increases, becoming the principal shareholder and reducing Spoleto Credito e Servizi to second largest. This capital boost elevated the Tier 1 ratio to 9.37% by July 2014, though it decreased to 7.99% by the end of that year.
In 2017, with public shareholding dropping below 10%, Banca Popolare di Spoleto was delisted from the stock exchange and became entirely privately held by its parent company.