Banca Popolare di Vicenza (BPVi) was an Italian bank and currently a winding-down company.
BPVi was a multi-regional bank which had branches in most of the Italy regions, except Aosta Valley in the north, Molise and Basilicata in the south, as well as Sardinia Island.
[4] Only 11.5% were owned by companies, administrative bodies and institutions, such as Cattolica Assicurazioni (0.89%)[5] and Fondazione Cariprato (0.35%).
BPVi was the ninth-largest shareholder of Banca Nazionale del Lavoro (BNL) for 3.63682% ordinary shares (at the end of year 2004).
In 2007 61 branches were acquired from UBI Banca, mainly based in the Provinces of Brescia and Bergamo, Lombardy.
After many years of merger and acquisitions, BPVi, BPER, UBI Banca, Banco Popolare and BPSO were the 5 surviving banking groups, plus Banca Monte dei Paschi di Siena which acquired and absorbed BAM and Antonveneta.
BPVi was alliances with insurer Cattolica Assicurazioni until 2016, which the bank still owned 15.07% stake as of 31 December 2015.
[20] In 2014 BPVi also submitted a plan to Banca Popolare dell'Etruria e del Lazio for a possible merger.
[28] On 4 August 2016 Cattolica terminated the partnership with BPVi and excised the put option to sell the three joint ventures to the bank.
[31] Followed by the announcement of 2016 SREP, which BPVi required to keep a CET1 and Tier 1 ratio of 8.75% and 10.25% respectively (however, the bank did not have additional Tier 1 capital instruments, thus the bank have to keep a de facto 10.25% CET1 capital ratio, same as last year) as well as an undisclosed Pillar 2 guidance,[32] Atlante deposited €310 million for future capital increase,[33] as the bank was just 0.5% higher than the requirement (Tier 1 ratio of 10.75% at 30 June 2016 according to 2016 half-yearly report).
[3] On 3 February 2017, BPVi issued a 3-year €3 billion face value bond with the state-guarantee in order to strengthen its capital base.
Based on the bank interpretation on the 2016 stress test of the European Central Bank, BPVi along had a capital shortfall of €3.3 billion in the worst forecast scenario (if setting the CET 1 Ratio target even at the worst forecast scenario at 8%).
After deducting the contribution from Atlante, the bank seeks investors, including the government for the remaining €2.99 billion shortfall.
The European Commission also approved the state aid of Italy to Intesa Sanpaolo for the incentive to close down the branches of the "good banks" (as some of them overlapped with Intesa's network), as well as recapitalized the good banks, for about €4.785 billion on 25 June.
[47] However, Intesa also announced that the bank would set up a fund to repay the bonds that were held by small investors.
[46] It was reported that the NPLs of the bank would be sold to Società per la Gestione di Attività by the liquidators, which was a special incorporated "bad bank" for Banco di Napoli and a wholly owned subsidiary of the government.