Antonveneta
From Wikipedia, the free encyclopedia
Antonveneta is the 9th largest banking group in Italy in terms of customer loans and the 8th largest in terms of total assets, with 1,000 branches, 10,800 employees and €50bn in assets.
The bank, based in Padua, only operates in the fragmented Italian market, where it has a market share of roughly 3%. It has a focus on the wealthy Northeast of the country with 6% market share and 600 branches.
86% of its clients are retail clients, accounting for 58% of assets, most of which are owned by affluent and private clients, 12% corporate, accounting for 42% of assets, and 2% institutional.
AntonVeneta was created by the merger of two credit unions (“popolare”) in 1996. After fast expansion via acquisitions in the late nineties, mainly in the South of Italy, it focused more on organic growth in the past few years. It was transformed from a cooperative bank to a publicly listed SpA in 2002.
In 2005, Dutch financial powerhouse ABN AMRO successfully overcame a scandal-ridden campaign by Italian banking regulators to become the first foreign bank to own an Italian bank. This move has been said to clear the way for other European banks to enter the lucrative Italian market. In early 2006, Antonveneta's shares were delisted from the Italian stock exchange as ABN AMRO acquired more than an 80% controlling stake in the banking group.
 |
This bank & insurance-related article is a stub. You can help Wikipedia by expanding it |
 |
This Italian corporation or company article is a stub. You can help Wikipedia by expanding it. |
