Description
Unione di Banche Italiane S.p.A., commonly known for its trading name UBI Banca, is an Italian banking Group, the fifth largest in Italy by number of branches, It was formed on 1 April 2007 from the merger of the Banche Popolari Unite (trading as BPU Banca) and Banca Lombarda e Piemontese banking groups.
UBI Banca shares were listed on the Borsa Italiana and included in the FTSE MIB index (the blue chip index) until it was taken over by its larger Italian rival Intesa Sanpaolo in September 2020.
Geographic distributnion
Despite one of the 5 largest banks of Italy by total assets, As of 2015, the banking network of UBI Banca was only concentrated in the regions which member banks were came from. For example, a market share of over 15% in Calabria (Banca Carime), between 5 and 15% in Apulia, Basilicata, Campania (Banca Carime and Banca Popolare di Ancona), Marche (Banca Popolare di Ancona), Lombardy (ranked second: Banco di Brescia, Banca Popolare di Bergamo, Banca Popolare Commercio e Industria and Banca di Valle Camonica), Piedmont and Liguria (Banca Regionale Europea). Market share in other regions were below 5% or even below 2%.
Governance
UBI Banca has adopted a two tier governance system with two boards, a supervisory board and a management board. (pursuant to articles 2409g and following of the Italian Civil Code)
