Credito Valtellinese

Credito Valtellinese
Native name	Credito Valtellinese S.p.A.
Formerly	Banca Piccolo Credito Valtellinese; Credito Valtellinese S.C.;
Type	listed società per azioni
Traded as	BIT: CVAL; FTSE Italia Small Cap Component;
ISIN	IT0005319444
Industry	Financial services
Founded	1908
Headquarters	Sondrio and Milan, Italy
Services	Retail & corporate banking; insurance agent & brokering;
Net income	€+113.2 million (2020)
Total assets	€23.882 billion (2020)
Total equity	€1.774 billion (2020)
Owner	others;
Number of employees	3521 (2020)
Subsidiaries	Credito Siciliano (98.54%); Global Assicurazioni (60%); Global Broker (51%); Stelline Real Estate (100%);
Capital ratio	19.6% (CET1)
Website	www.gruppocreval.com
	Footnotes / references; in a consolidated basis

Credito Valtellinese (Creval) is an Italian bank based in Sondrio, Lombardy, Italy. The company was a former component of FTSE Italia Mid Cap Index of the Borsa Italiana (Milan Stock Exchange), but was removed and added as a component of [it] Index in May 2017;^[3] the bank was added back to the reserve list of FTSE Italia Mid Cap in August 2017.^[4]

The bank is named after the area Valtellina. The bank had 363 branches in Northern Italy (as Credito Valtellinese),^[5] 40 branches in Marche and Umbria (former Carifano), and 133 branches in Sicily (as Credito Siciliano).^[5] Credito Siciliano had three more branches outside the island of Sicily.

It had a market share of 32% in Sondrio. However, only 2.9% in whole Lombardy region in terms of deposits, as of 30 June 2014, as well as only 1.7% in terms of branches as the 10th of Italy.^[5]

History[]

Credito Valtellinese is a former co-operative bank based in Sondrio found in 1908, as Banca Piccolo Credito Valtellinese.^[6] (Not to be confused with Banca Popolare di Sondrio) The bank expanded by the acquisition of Technoleasing (later ) in the 1980s and Credito Artigiano in 1996, which was the parent company of . In 2002 Sicilian banks in Acireale, in Caltagirone and Banca Regionale Sant'Angelo were merged to become Credito Siciliano. In 2008 , Cassa di Risparmio di Fano, ^[7] and (former Banca della Ciociaria) joined.^[8]

From 2004 to 2013, Creval was a minority shareholder of Banca di Cividale.

In 2016 the bank was demutualized, being registered as a Banca Popolare. The new Italian Law N°3/2015 required that banks with more than €8 billion total assets in that category had to be transformed into a società per azioni. The withdrawal price for the shareholders was set at €0.4747 per share. At the same time a plan to combine 10 old shares to 1 new share was announced.^[9]

Equity investments[]

Credito Valtellinese was a minority shareholder of Global Assistance S.p.A. (40%), a subsidiary of Ri-Fin; Creval and Ri-Fin were the shareholders of Global Assicurazioni (60–40) and Global Broker (51–49). The bank was a minority shareholder of Unione Fiduciaria.

Shareholders[]

As of 17 January 2021

Declared shareholder of the bank are:

(5%)
(5.13%)
(5.29%)
(5.78%)
(7.07%)^[10]

References[]

^ "The Group" (in Italian). Credito Valtellinese. Archived from the original on 12 April 2015. Retrieved 10 April 2015.
^ "CONSOLIDATED RESULTS AS AT 31 DECEMBER 2020" (PDF). Credito Valtellinese. Retrieved 10 February 2021.
^ "FTSE Italia Index Series Quarterly Review" (Press release). FTSE Group. 31 May 2017. Archived from the original on 10 January 2018. Retrieved 9 January 2018.
^ "FTSE Italia Index Series Quarterly Review" (Press release). FTSE Group. 30 August 2017. Archived from the original on 10 January 2018. Retrieved 9 January 2018.
^ Jump up to: ^a ^b ^c "Archived copy" (PDF). Archived from the original (PDF) on 16 April 2015. Retrieved 10 April 2015.CS1 maint: archived copy as title (link)
^ "Storia" [The Story] (in Italian). Credito Valtellinese. Archived from the original on 15 May 2006. Retrieved 29 September 2016.
^ http://www.gruppocreval.com/SitePages/bancacattolica.aspx
^ "About Creval". Credito Valtellinese. Retrieved 17 February 2016.
^ "The Board of Directors of Credito Valtellinese S.c. sets the date for the extraordinary shareholders' meeting regarding its transformation into a joint stock company..." (PDF). Credito Valtellinese. 20 September 2016. Retrieved 29 September 2016.
^ "Credito Valtellinese - company profile". Borsa Italiana s.p.a. Retrieved 18 February 2021.

External links[]

Official Site (in Italian and English)
Group website (in Italian and English)

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[1] "The Group" (in Italian). Credito Valtellinese. Archived from the original on 12 April 2015. Retrieved 10 April 2015.

[2] "CONSOLIDATED RESULTS AS AT 31 DECEMBER 2020" (PDF). Credito Valtellinese. Retrieved 10 February 2021.

[3] "FTSE Italia Index Series Quarterly Review" (Press release). FTSE Group. 31 May 2017. Archived from the original on 10 January 2018. Retrieved 9 January 2018.

[4] "FTSE Italia Index Series Quarterly Review" (Press release). FTSE Group. 30 August 2017. Archived from the original on 10 January 2018. Retrieved 9 January 2018.

[about-5] Jump up to: ^a ^b ^c "Archived copy" (PDF). Archived from the original (PDF) on 16 April 2015. Retrieved 10 April 2015.CS1 maint: archived copy as title (link)

[6] "Storia" [The Story] (in Italian). Credito Valtellinese. Archived from the original on 15 May 2006. Retrieved 29 September 2016.

[7] ttp://www.gruppocreval.com/SitePages/bancacattolica.aspx

[8] "About Creval". Credito Valtellinese. Retrieved 17 February 2016.

[9] "The Board of Directors of Credito Valtellinese S.c. sets the date for the extraordinary shareholders' meeting regarding its transformation into a joint stock company..." (PDF). Credito Valtellinese. 20 September 2016. Retrieved 29 September 2016.

[10] "Credito Valtellinese - company profile". Borsa Italiana s.p.a. Retrieved 18 February 2021.

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Native name	Credito Valtellinese S.p.A.
Formerly	Banca Piccolo Credito Valtellinese Credito Valtellinese S.C.
Type	listed società per azioni
Traded as	BIT: CVAL FTSE Italia Small Cap Component
ISIN	IT0005319444
Industry	Financial services
Founded	1908^[1]
Headquarters	Sondrio and Milan, Italy
Services	Retail & corporate banking insurance agent & brokering
Net income	€+113.2 million (2020)
Total assets	€23.882 billion (2020)
Total equity	€1.774 billion (2020)
Owner	others
Number of employees	3521 (2020)
Subsidiaries	Credito Siciliano (98.54%) Global Assicurazioni (60%) Global Broker (51%) Stelline Real Estate (100%)
Capital ratio	19.6% (CET1)
Website	www.gruppocreval.com
Footnotes / references in a consolidated basis^[2]