FinecoBank
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Formerly |
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Type | Listed | ||||
BIT: FBK FTSE MIB Component | |||||
Founded |
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Services | online brokerage | ||||
Owner | UniCredit (18%) |
FinecoBank S.p.A., known as FinecoBank or just Fineco is an Italian bank that specializes in online brokerage.[1] Launched in 1999 with its Fineco Online service for retail traders,[2] Fineco became a listed company in 2014 and has been independent from UniCredit banking group since 2019.[3]
FinecoBank is a constituent of FTSE MIB (since 2016), the blue chip index of the Borsa Italiana.[4] Since 2015 it has over a million customers in Italy, where its role has been compared to that of Schwab in USA.[2]
History[]
Predecessors[]
The predecessor of Fineco was a financial institution known as GI-FIN S.r.l. in 1982 and then GI-FIN S.p.A. from October 1982.[5] In 1983, the institution was incorporated as Istituto per le Cessioni del Quinto S.p.A. (ICQ),[5] which later known as Novara ICQ S.p.A.[6]: 665 and then ICQ Banca Cisalpina S.p.A..[5][non-primary source needed] ICQ Banca Cisalpina was a subsidiary of Banca Popolare di Novara (BP Novara).[5] In 1990–91, BP Novara owned 51.21% shares of ICQ Banca Cisalpina.[6]: 665 [7]: 126 ICQ Banca Cisalpina was also a listed company, which was delisted in 1996 by its new owner Banca Popolare di Brescia (Bipop).[8][9]
In 1999, Bipop merged with Cassa di Risparmio di Reggio Emilia (Carire) to form Bipop Carire.[5] As of 1990, Banca Popolare di Brescia also partially owned the namesakes Fin-Eco Leasing (33.33%) and Fin-Eco Factoring (30%).[7]: 125 As of 1994, Bipop owned the aforementioned companies via an intermediate holding company Fin-Eco Holding.[10] The Holding also owned another subsidiary Fin-Eco SIM.[10] Bipop also attempted to acquire another namesake Cisalpina Gestioni in 1994.[10]
After the 1999 merger, the banking group re-organized ICQ Banca Cisalpina as well as Fin-Eco Leasing and Fin-Eco Factoring.[11]
FinecoBank[]
ICQ Banca Cisalpina was renamed to "Fin-Eco Banca ICQ S.p.A." (Banca Fin-Eco in short) in 1999,[5] which was considered as the launch date of the current Fineco.[12][13] In 2002, Bipop Carire and Fineco became part of Capitalia banking group.[14] In 2007, Capitalia was absorbed into UniCredit banking group, while Fineco was kept as a separate subsidiary.
In 2014 FinecoBank started its initial public offering.[12] In 2016 UniCredit sold a further 30% shares to public market.[15][16][17] In May 2019, UniCredit sold another 17% shares of FinecoBank.[1] As UniCredit owned 18% shares of FinecoBank after the transaction, FinecoBank is no longer an associate company of UniCredit.[18]
In 2020, Fineco decided to spend 7 million euros on a marketing campaign to grow its services in UK,[19] whose launch was authorised earlier in the same year.[20]
References[]
- ^ Jump up to: a b Za, Valentina; Aloisi, Silvia (7 May 2019). Potter, Mark; Merriman, Jane (eds.). "UniCredit sells 17 percent stake in online broker FinecoBank". Reuters. Additional reporting by Helen Reid. Milan. Retrieved 19 July 2019.
- ^ Jump up to: a b Maximilian Cellino (8 May 2019). "Fineco, come guadagna la banca online venduta da UniCredit". Il Sole 24 ORE. Retrieved 30 January 2021.
- ^ "FinecoBank Banca Fineco SpA (FBK : BIT) Stock Price & News - Google Finance". www.google.com. Retrieved 11 September 2021.
- ^ "Fineco Bank - London South East". www.lse.co.uk. Retrieved 11 September 2021.
- ^ Jump up to: a b c d e f "La fase iniziale". Prospetto [Prospectus] (PDF) (in Italian). FinecoBank. 2014. p. 114.
- ^ Jump up to: a b Whiteside, R. M.; Wilson, A.; Blackburn, S.; Hörnig, S. E.; Wilson, C. P. (1991). "Major Companies of Italy". In Whiteside, R. M.; Wilson, A.; Blackburn, S.; Hörnig, S. E.; Wilson, C. P. (eds.). Major Companies of Europe 1991-1992 Vol.1 : Major Companies of the Continental European Community. London: Graham & Trotman (Kluwer Academic Publishers Group). pp. 651–750. doi:10.1007/978-94-011-3016-5_7. ISBN 978-1-85333-598-3.
- ^ Jump up to: a b Whiteside, R. M.; Forsyth, J.; Wilson, A. (1990). "Major Companies of Italy". In Whiteside, R. M.; Forsyth, J.; Wilson, A. (eds.). Major Financial Institutions of Continental Europe 1990/91. London: Graham & Trotman (Kluwer Academic Publishers Group). pp. 121–140. doi:10.1007/978-94-011-3022-6_9. ISBN 978-1-85333-471-9.
- ^ "COMPANIES DELISTED FROM JANUARY 1995 TO 31 AUGUST 2010" (PDF) (in Italian). Borsa Italiana. Retrieved 19 July 2019.
- ^ "POP. BRESCIA: NULLA OSTA CONSOB AD OPA ICQ CISALPINA" (in Italian). Rome. Adnkronos. 7 October 1996. Retrieved 19 July 2019.
- ^ Jump up to: a b c "Provvedimento №2179 (C1536): Banca Popolare di Brescia / Cisalpina Gestioni" (PDF) (in Italian). Italian Competition Authority (AGCM). 25 July 1994. Archived from the original (PDF) on 16 April 2016. Retrieved 16 April 2016.
- ^ "eco+bank". library.answerthepublic.net. Retrieved 11 September 2021.
- ^ Jump up to: a b Bray, Chad (27 June 2014). "UniCredit's Online Unit Raises at Least $916 Million in I.P.O." "Dealbook" section. The New York Times. Retrieved 19 July 2019.
The company, founded in 1999,...
- ^ "About Fineco". Fineco Bank. Retrieved 19 July 2019.
- ^ Bilancio al 31 dicembre 2002 [2002 Annual Repoort] (PDF) (in Italian). Capitalia. 2003. Archived (PDF) from the original on 13 March 2016. Retrieved 16 December 2019 – via Borsa Italiana.
- ^ "Unicredit vende il 10 per cento di FinecoBank. Incasso da 328 milioni di euro". La Repubblica. Rome: Gruppo Editoriale L'Espresso. 12 July 2016. ISSN 2499-0817. Retrieved 19 July 2019.
- ^ "UniCredit launches placement of ordinary shares in FinecoBank S.p.A. representing 20% of the Company's existing share capital" (Press release). UniCredit. 12 October 2016. Retrieved 24 January 2017.
- ^ Written at Milan. "Unicredit cede il 20% di Fineco, ma il mercato non brinda". La Repubblica. Rome: Gruppo Editoriale L'Espresso. 13 October 2016. ISSN 2499-0817. Retrieved 19 July 2019.
- ^ "UniCredit announces FinecoBank is not anymore part of the Group starting today" (Press release). UniCredit. 10 May 2019. Retrieved 19 July 2019.
- ^ Eleonora Micheli (9 November 2020). "Fineco, Foti: «2020 un anno di successo. Distribuiremo cedole appena possibile»". Il Sole 24 ORE. Retrieved 30 January 2021.
- ^ Eleonora Micheli (11 February 2020). "Fineco prepara lo sbarco in Gran Bretagna ed esclude M&A". Il Sole 24 ORE. Retrieved 30 January 2021.
External links[]
- Official website (in Italian and English)
- Companies listed on the Borsa Italiana
- Banks of Italy
- UniCredit Group
- Capitalia Group
- 1999 establishments in Italy
- Banks established in 1999
- Online financial services companies of Italy
- Online financial services companies of the United Kingdom
- Online brokerages