The banking group history of Italy United Commercial Bank

Union Bank was established in 1998 on the basis of the merger of Ambrosia Novaveneto and Lombardy Savings Bank (CAPRLO). 1999 Italian commercial banks join United banking group. After the merger, the group was named IntesaBci 5438+0 in May 2006. On June 5438+February, 2002, the shareholders' meeting decided to change its name to United Bank, which took effect on June 5438+ 10/day, 2003.

The United Commercial Bank of Italy is listed on the Italian stock market and is the parent company of the United Commercial Bank Group of Italy. Through the strategic coordination among its branches, representative offices and many subsidiaries, United Commercial Bank of Italy has formed a closely integrated transnational structure to carry out international business.

In August 2006, the two largest banks in Italy, Unibank and IMI Bank in Sao Paulo, announced that they had agreed to merge, which would create the largest bank in Italy. The headquarters of the new company will be located in the northern Italian city of Turin. The merger was supported by the Italian government. Fitch Ratings, a rating agency, said that the merger of the two banks will have a wide impact on the Italian banking industry, which will promote the further integration of the country's banking industry and even affect the pattern of the entire European banking industry.

On August 26th, 2006, Union Bank of Italy and Bank of Sao Paulo merged to form Union Bank of Sao Paulo, which is the largest banking group in Italy at present. Zhongli Insurance, the third largest insurance company in Europe, is the third largest shareholder of the bank.