Credito Romagnolo
| Industry | Financial services |
|---|---|
| Founded | 1896 |
| Defunct | 1996 |
| Fate | Acquired by Credito Italiano and merged with Carimonte Banca to form Rolo Banca |
| Headquarters | Bologna , Italy |
Area served | Emilia-Romagna, Friuli – Venezia Giulia, Apulia, Molise, San Marino |
| Products | Banking |
| Parent | Credito Italiano (from 1995) |
Credito Romagnolo (commonly known as Rolo) was a financial institution headquartered in Bologna, within the Emilia-Romagna region of Italy. In 1995, it became part of Credito Italiano through acquisition. The following year, the Credito Romagnolo Group, comprising Credito Romagnolo Holding and Credito Romagnolo S.p.A., merged with the Carimonte Banca Group to establish Rolo Banca.
History
The origins of the bank trace back to 1896 with the establishment of Banca Piccolo Credito Romagnolo. In 1987, it expanded by acquiring Banca Venturi, which operated in Apulia. From 1992 to 1994, the bank integrated Banca del Friuli, serving the Friuli – Venezia Giulia area. As of 1991, Credito Romagnolo commanded an 11.9% share of the lending market in Emilia-Romagna, while Banca del Friuli held an 8.5% share in Friuli – Venezia Giulia. In 1994, it further extended its reach by purchasing Banca Popolare del Molise and held ownership of Banca Agricola Commerciale (San Marino).
That same year, Credito Romagnolo proposed a merger to Casse Emiliano Romagnole (CAER), offering CAER shareholders an exchange for new shares in Credito Romagnolo; however, this proposal was declined. CAER's successor eventually merged into Sanpaolo IMI in 2002, which later became part of Intesa Sanpaolo, a major competitor to UniCredit, the successor entity to Credito Italiano.
Also in 1994, a consortium consisting of Cassa di Risparmio delle Provincie Lombarde (Cariplo), Istituto Mobiliare Italiano (IMI), Reale Mutua Assicurazioni, and CAER launched a public bid for shares in Credito Romagnolo, challenging the offer made by Credito Italiano. During this period, Rolo maintained a deposit market share of 21.5% in Bologna Province and 21.0% in Ravenna Province.
In 1995, the bank acquired another Apulian institution, Banca Vincenzo Tamborino. By the end of that year, Credito Italiano had secured a 65% stake in Credito Romagnolo and orchestrated its merger with Carimonte Banca, which took effect on January 1, 1996.