Banco di Napoli
| Company type | Subsidiary |
|---|---|
| Industry | Banking |
| Founded | 1463 |
| Fate | Merged into Intesa Sanpaolo S.p.A. in 2018 |
| Headquarters | Naples , Italy |
Area served | Campania, Apulia, Basilicata, Calabria, Rome (one branch) |
Number of employees | 5750 |
| Parent | Intesa Sanpaolo |
Banco di Napoli S.p.A., recognized as one of the oldest banking institutions globally, was an Italian bank functioning as a subsidiary within the Intesa Sanpaolo group. It operated alongside five other retail brands under the same umbrella, distinct from the main "Intesa Sanpaolo" brand. This bank became part of Sanpaolo IMI, the predecessor of Intesa Sanpaolo, following its acquisition in 2002, which marked the end of its independent operations. In February 2018, Intesa Sanpaolo revealed a strategic plan to phase out Banco di Napoli along with other brands; consequently, the legal entity of Banco di Napoli was merged into Intesa Sanpaolo S.p.A.
History
The origins of Banco di Napoli can be traced back to charitable public financial institutions in Naples during the 16th and 17th centuries. Notably, a mount of piety was established in 1539 to provide interest-free loans and received formal recognition in 1584. Some historians argue that its roots extend even further to 1463 with the foundation of Casa Santa dell'Annunziata. Founded by Saint Cajetan with the mission to shield impoverished individuals from usurious practices, it held the distinction of being the longest-operating bank until its closure in 2018.
Between 1563 and 1640, Naples saw the establishment of seven similar institutions, including Banco dei Poveri (1563) and Banco della Santissima Annunziata (1587). In 1794, King Ferdinand IV of Bourbon consolidated these eight entities into a single institution named Banco Nazionale di Napoli.
Throughout the 19th century, political changes prompted significant restructuring: Joachim Murat sought to convert it into a limited company and founded Banco delle Due Sicilie. After disturbances in 1849, the bank lost its Sicilian branches following the creation of Banco di Sicilia. Post-Italian unification in 1861, it adopted the name Banco di Napoli and for 65 years issued currency on behalf of the Kingdom of Italy.
The Legge Amato reform in 1991 led to the formation of a società per azioni dedicated to banking operations, while the original institution transitioned into a holding company known as .
Due to financial difficulties, the S.p.A. underwent nationalization but was privatized again in 1997 through establishing a bad bank (SGA) and winding down its subsidiary ISVEIMER. A majority shareholding (60%) was purchased by Istituto Nazionale delle Assicurazioni (INA) and Banca Nazionale del Lavoro (BNL) via the holding entity INASSIT (later renamed Banco di Napoli Holding).
Subsequently, INA and BNL divested their shares to Sanpaolo IMI.
At the end of 2002, after acquiring Banco di Napoli, Sanpaolo IMI rebranded it as "Sanpaolo Banco di Napoli" through a two-phase approach:
- The original Banco di Napoli S.p.A. was absorbed by Sanpaolo IMI at year-end 2002.
- A newly established subsidiary named Sanpaolo Banco di Napoli S.p.A., formed in April 2003, commenced its operations on July 1, 2003.
Following the December 2006 merger between Banca Intesa and Sanpaolo IMI, Banco di Napoli became part of Intesa Sanpaolo under the name Banco di Napoli S.p.A..
On November 26, 2018, Banco di Napoli officially ceased operations and was fully integrated into Intesa Sanpaolo.
Corporate structure
The 2000 merger of Banco di Napoli into Sanpaolo IMI resulted in a more focused geographic presence: branches in northern and central Europe that overlapped with those of the parent company were either shut down or relocated. At the same time, the southern branches of Sanpaolo IMI were unified under the new name Sanpaolo Banco di Napoli.
In traditionally less strong markets for Banco di Napoli, such as Abruzzo, Molise, and Lazio, the branches were initially absorbed into Sanpaolo. Subsequently, those located in Abruzzo and Molise were reassigned to Banca dell'Adriatico.
Up until 2018, Banco di Napoli primarily served the regions of Campania, Apulia, Basilicata, and Calabria, with the exception of a single branch situated at Palazzo Montecitorio in Rome. The bank maintained a network consisting of roughly 687 branches and employed around 5,750 staff members.