Banca di Legnano
| Company type | Subsidiary |
|---|---|
| Industry | Financial services |
| Fate | Merged into Banca Popolare di Milano in 2013 |
| Headquarters | Legnano , Italy |
| Parent | Banca Popolare di Milano |
Banca di Legnano was an Italian financial institution headquartered in Legnano, Lombardy, which was integrated into its parent organization Banca Popolare di Milano (BPM) in 2013.
History
Originally, Banca Commerciale Italiana (BCI) held a 55% share in Banca di Legnano. Following the 1999 merger of BCI with Banca Intesa, resulting in Intesa–BCI, BPM acquired this 55% stake from Intesa on January 1, 2001, for 1,300 billion lire and proceeded with a public tender offer to obtain the remaining shares. By 2002, BPM had secured full ownership of the bank.
By 2007, BPM's ownership reached 93.51%, while Crédit Industriel et Commercial (CIC), which had acquired its interest in 2004, held the remaining 6.49%. BPM completed the acquisition of CIC’s shares in 2011 for €100 million.
In 2012, Banca di Legnano absorbed Cassa di Risparmio di Alessandria. Subsequently, on September 14, 2013, it was entirely merged into BPM. At the close of 2012, the bank's shareholders' equity stood at €960 million.
Sponsorship
The institution acted as a sponsor for the Coppa Bernocchi cycling competition.