Banca delle Marche
| Company type | Subsidiary |
|---|---|
| Industry | Financial services |
| Predecessor | Nuova Banca delle Marche S.p.A. |
| Founded | November 22, 2015 in Jesi, Italy |
| Defunct | 2017 |
| Fate | Merged into UBI Banca |
| Headquarters | Jesi , Italy |
Area served | Central Italy (mainly Marche) |
| Parent | UBI Banca (from 2017) |
Banca Adriatica S.p.A., operating under the brand UBI Banca Adriatica and previously known as Nuova Banca delle Marche S.p.A., was an Italian financial institution based in Jesi, within the Marche region. Its operations were mainly concentrated in central Italy, with 73% of its branches in 2016 situated in Marche. The bank was created on 22 November 2015 by segregating the performing assets from the original Banca delle Marche S.p.A.
The original Banca delle Marche was formed in 1994 through the consolidation of several regional savings banks. Due to capital deficiencies, it was nationalized by the Italian National Resolution Fund in 2015 and reconstituted as Nuova Banca delle Marche, separating non-performing assets into a distinct entity. Subsequently, UBI Banca purchased it on 18 January 2017 for a nominal amount, renaming it Banca Adriatica before fully integrating it into UBI Banca within the same year.
Predecessors
The bank’s lineage can be traced to various savings banks in the Marche region, including Jesi (established 1844), and the Province of Macerata (which originated in 1929 by merging C.R. Macerata (1846), C.R. Camerino (1844), C.R. Recanati (1867), and C.R. Tolentino (1873)), as well as the city of Pesaro (founded 1841).
History
Banca delle Marche came into existence in 1994 through the merger of Cassa di Risparmio della Provincia di Macerata and Cassa di Risparmio di Pesaro; Cassa di Risparmio di Jesi joined the group in 1995. In the 1990s, Cassa di Risparmio delle Provincie Lombarde (Cariplo) held a minority interest of 5.13% in 1996, having been a shareholder in CR Jesi since 1992. By 2001, Cariplo’s share decreased to 4.60%, which was subsequently sold by its successor Banca Intesa back to Banca delle Marche as treasury stock for €45 million in 2002.
In 1997, Banca delle Marche acquired controlling stakes in Cassa di Risparmio di Loreto and Mediocredito Fondiario Centroitalia. According to 1996 data, the group’s combined market share for loans across Marche reached 26.7%. The bank held a dominant position in deposits within the Province of Macerata—53.6% prior to acquisition and rising to 55% afterward—surpassing competitors such as Banca Popolare di Ancona (14%). In Ancona Province, it commanded a deposit market share of 32.3%, ahead of Banca Popolare di Ancona (13%) and Unicredito (11%).
On 1 July 2003, Sanpaolo IMI acquired a 7% stake for €92.1 million, with foundations retaining a put option on an additional 8%. This option was not exercised; after Sanpaolo IMI merged with Banca Intesa in 2007, these shares transferred to Intesa Sanpaolo, which chose not to participate in Banca delle Marche’s capital increase in 2012, resulting in dilution of its holding.
Insolvency
On 24 October 2011, the board proposed a capital increase ranging from €180.7 million to €212.6 million. Following a €179.6 million capital raise, as of 31 December 2012, Banca delle Marche reported a Tier 1 capital ratio of 5.62% and shareholders’ equity totaling €959.5 million. By year-end 2012, it ranked as Italy’s nineteenth-largest bank by total assets.
On 15 October 2013, after interim supervision by the Bank of Italy, the Ministry of Economy and Finance placed the bank under special administration. In August 2014, Credito Fondiario extended a €1.8 billion loan to Banca delle Marche and planned to subscribe to new shares alongside the Italian deposit insurance fund (FITD). Although approved by the Bank of Italy in December 2014, this arrangement was abandoned following a European Commission investigation into state aid. After Banca Marche defaulted on repayments, Credito Fondiario liquidated collateral assets mid-2015 to fully repay the loan and returned any surplus funds to the bank.
A further capital injection exceeding €2 billion was proposed by FITD at the end of 2015 for Banca Marche along with three other banks, with up to €1.2 billion earmarked for Banca Marche pending regulatory approval.
Ultimately, on 22 November 2015, the Italian National Resolution Fund executed a rescue plan totaling about €3.7 billion (€840 million allocated for new shares and €1.206 billion covering prior losses). This intervention complied with the EU Bank Recovery and Resolution Directive under the oversight of Bank of Italy as national resolution authority. The strategy involved splitting assets into performing and non-performing segments; the original bank was wound up with shareholders and subordinated bondholders absorbing losses due to bail-in rules. At year-end 2015, key former shareholders such as Fondazione Carima, Fondazione CR Pesaro, and Fondazione CR Jesi experienced substantial net asset reductions primarily due to write-downs on their investments in Banca delle Marche.
On 3 May 2016, Decree-Law No.59/2016 was enacted to reimburse retail investors—up to €100,000—who had purchased bonds before 12 June 2014. This initiative responded to criticism over bail-in measures affecting junior investors—often retail clients who had acquired risky bank bonds—and established a compensation fund ("Fondo di solidarietà") administered by FITD.
Nuova Banca Marche / Banca Adriatica
On 22 November 2015, the institution was divided into two entities: a bad bank and a good bank, with the latter named Nuova Banca delle Marche. This new entity was established with a temporary share capital of €1.041 billion and an anticipated Tier 1 capital ratio of 9%. Non-performing loans were moved to a collective "bad bank," REV - Gestione Crediti, which also absorbed assets from Carichieti, Carife, and Banca Etruria. This asset transfer was finalized in early 2016.
In March 2016, it was announced that Medioleasing would be merged into Nuova Banca delle Marche, with the integration taking effect on 1 August. Concurrently, the bank’s asset management firm, Focus Gestioni SGR, entered into voluntary liquidation.
On 12 January 2017, UBI Banca put forward a binding offer of €1 for the acquisition of Nuova Banca Marche, Nuova CariChieti, and Nuova Banca Etruria. This agreement entailed cleaning up the banks’ balance sheets through the disposal of non-performing loans to Atlante II and Credito Fondiario, along with a recapitalization injection of €713 million by the National Resolution Fund (initially projected at €450 million). The offer was approved on 18 January. The deal was completed on 10 May, resulting in Nuova Banca Marche being renamed Banca Adriatica. Additionally, a merger plan was announced to consolidate the three banks into UBI Banca.
The merger process concluded on 23 October 2017.
- 2001
| Shareholders | Percentage of ordinary shares |
|---|---|
| Fondazione Cassa di Risparmio della Provincia di Macerata | 21.83% |
| Fondazione Cassa di Risparmio di Pesaro | 21.83% |
| Fondazione Cassa di Risparmio di Jesi | 10.45% |
| CGNU Holding | 5.80% |
| Commercial Union Italia | 2.49% |
| Banca Intesa | 4.60% |
| Others |
- 2002
| Shareholders | Percentage of ordinary shares |
|---|---|
| Fondazione Cassa di Risparmio della Provincia di Macerata | Template:Nochange 21.83% |
| Fondazione Cassa di Risparmio di Pesaro | Template:Nochange 21.83% |
| Fondazione Cassa di Risparmio di Jesi | Template:Nochange 10.45% |
| Aviva Italia Holding | Template:Nochange 5.80% |
| Commercial Union Italia | Template:Nochange 2.49% |
| Others | |
| Treasury shares | Increase 4.86% |
- 2003
| Shareholders | Percentage of ordinary shares |
|---|---|
| Fondazione Cassa di Risparmio della Provincia di Macerata | Decrease 20.94% |
| Fondazione Cassa di Risparmio di Pesaro | Decrease 20.94% |
| Fondazione Cassa di Risparmio di Jesi | Decrease 10.03% |
| Aviva Italia Holding | Template:Nochange 5.80% |
| Commercial Union Italia | Template:Nochange 2.49% |
| Sanpaolo IMI | Increase 7.00% |
| Others | |
| Treasury shares | Decrease 0.10% |
- 2007
| Shareholders | Percentage of ordinary shares |
|---|---|
| Fondazione Cassa di Risparmio della Provincia di Macerata | Template:Nochange 20.94% |
| Fondazione Cassa di Risparmio di Pesaro | Template:Nochange 20.94% |
| Fondazione Cassa di Risparmio di Jesi | Template:Nochange 10.03% |
| Aviva Italia Holding | Template:Nochange 5.80% |
| Aviva Italia | Template:Nochange 2.49% |
| Intesa Sanpaolo | Template:Nochange 7.00% |
| Fondazione Cassa di Risparmio di Fermo | Increase 0.02% |
| Others | |
| Treasury shares | Decrease 0.01% |
- 2008
| Shareholders | Percentage of ordinary shares |
|---|---|
| Fondazione Cassa di Risparmio della Provincia di Macerata | Template:Nochange 20.94% |
| Fondazione Cassa di Risparmio di Pesaro | Template:Nochange 20.94% |
| Fondazione Cassa di Risparmio di Jesi | Template:Nochange 10.03% |
| Aviva Italia Holding | Template:Nochange 5.80% |
| Aviva Italia | Template:Nochange 2.49% |
| Intesa Sanpaolo | Template:Nochange 7.00% |
| Fondazione Cassa di Risparmio di Fermo | Increase0.06% |
| Others | |
| Treasury shares | Increase0.12% |
- 2009
| Shareholders | Percentage of ordinary shares |
|---|---|
| Fondazione Cassa di Risparmio della Provincia di Macerata | Template:Nochange20.94% |
| Fondazione Cassa di Risparmio di Pesaro | Template:Nochange20.94% |
| Fondazione Cassa di Risparmio di Jesi | Template:Nochange10.03% |
| Intesa Sanpaolo | Template:Nochange7.00% |
| Aviva Italia Holding | Decrease3.52% |
| Aviva Italia | Template:Nochange2.49% |
| Fondazione Cassa di Risparmio di Fano | Increase2.30% |
| Fondazione Cassa di Risparmio di Fermo | Template:Nochange0.06% |
| Others | |
| Treasury shares | Increase0.18% |
- 2010
| Shareholders | Percentage of ordinary shares |
|---|---|
| Fondazione Cassa di Risparmio della Provincia di Macerata | Increase22.40% |
| Fondazione Cassa di Risparmio di Pesaro | Increase22.40% |
| Fondazione Cassa di Risparmio di Jesi | Increase10.73% |
| Intesa Sanpaolo | Template:Nochange7.00% |
| Fondazione Cassa di Risparmio di Fano | Increase3.33% |
| Fondazione Cassa di Risparmio di Fermo | Template:Nochange0.06% |
| Others | |
| Treasury shares | Increase2.59% |
- 2012
| Shareholders | Percentage of ordinary shares |
|---|---|
| Fondazione Cassa di Risparmio della Provincia di Macerata | Increase22.51% |
| Fondazione Cassa di Risparmio di Pesaro | Increase22.51% |
| Fondazione Cassa di Risparmio di Jesi | Increase10.78% |
| Intesa Sanpaolo | Decrease5.84% |
| Fondazione Cassa di Risparmio di Fano | Increase3.35% |
| Fondazione Cassa di Risparmio di Fermo | Increase0.06% |
| Others | |
| Treasury shares | Increase2.89% |
- 2015–2017
| Shareholders | Percentage of ordinary shares |
|---|---|
| Italian National Resolution Fund | 100% |
- 2017–
| Shareholders | Percentage of ordinary shares |
|---|---|
| UBI Banca | 100% |
Subsidiaries
By 2014, the group comprised subsidiaries such as Cassa di Risparmio di Loreto, Medioleasing, and Focus Gestioni SGR. Mediocredito Fondiario Centroitalia, which merged into Banca delle Marche in 2003, was formed through the 1992 consolidation of Mediocredito delle Marche and Istituto di Credito Fondiario delle Marche, Umbria, Abruzzo e Molise.
In 1999, the bank launched a bancassurance joint venture with CGU plc via its subsidiary that is currently known as Aviva Italia Holding.
Sponsorship
Banca delle Marche acted as a sponsor for sports clubs including Associazione Sportiva Volley Lube and Fabriano Basket; additionally, the sports arena PalaRossini carried the bank's name.
See also
- Other banks based in the Marche region:
- Cassa di Risparmio di Fermo, an Italian banking institution
- Banca dell'Adriatico, formerly a subsidiary of Intesa Sanpaolo, now defunct
- Banca Popolare di Ancona, previously under UBI Banca, now defunct
- Cassa di Risparmio di Ascoli Piceno, a former Intesa Sanpaolo subsidiary no longer operating
- Cassa di Risparmio di Fano, once part of Credito Valtellinese, now defunct
- Cassa di Risparmio di Fabriano e Cupramontana, previously owned by Veneto Banca, now defunct
- Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona, which served as a predecessor to UniCredit
External links
- Articles with short description
- Pages with broken file links
- Banks established in 1994
- Re-established companies
- Banks established in 2015
- 2015 establishments in Italy
- Banks disestablished in 2017
- Italian companies disestablished in 2017
- Defunct banks of Italy
- Companies based in Jesi
- Banca Intesa
- Sanpaolo IMI acquisitions
- Intesa Sanpaolo
- Former UBI Banca subsidiaries
- Bank failures
- Italian companies established in 1994