Veneto Banca

Veneto Banca S.p.A. is a former Italian bank headquartered in Montebelluna, Italy and currently a wind-down unit.

Veneto Banca
Formerly
  • Banca Popolare di Montebelluna
  • Banca Popolare di Asolo e Montebelluna
Typeunlisted public Società per Azioni
IndustryFinancial services
Founded1877
Defunct23 June 2017; 4 years ago (2017-06-23)
Fatebankruptcy, compulsory liquidation
Successor
Headquarters,
Italy
Number of locations
550 branches (2015)
ServicesRetail and corporate banking
 (€01.502 billion) (2016)
Total assets €28.078 billion (2016)
Total equity01.743 billion (2016)
Number of employees
5,703 (2015 average)
Subsidiaries
Banca Intermobiliare(71.413%)
Capital ratio 6.39% (Group CET1, Dec.2016)
RatingMoody's
Websitegruppovenetobanca.it
Footnotes / references
in consolidated financial statements[1]

The bank changed from a cooperative society to a limited company in December 2015. Following a failed stock market listing in June 2016 it was taken over by a bail-out fund, Atlante.[2] However, after a heavy loan write-down in 2016 financial year, as well as a scandal on selling own new shares to depositors in the past, European Central Bank announced the bank was insolvent on 23 June 2017, and would be broken up (wound up) into a good and a bad bank. Intesa Sanpaolo, the largest bank of Italy by capitalization, announced that it would be interested in buying certain good assets (and corresponding liabilities) of the bank for a token fee.[3] A contract to acquire the "good bank" (excluding Banca Intermobiliare) was signed on 26 June, after the European Commission approved the state aid of Italy to Intesa Sanpaolo for increasing the capital ratio of the "good bank" on 25 June.[4]

According to a research by Ricerche e Studi, the bank was ranked 16th by total assets, using 2015 data.[5] The bank was one of the fourteen largest banks of Italy, which were supervised by European Central Bank directly.