The Iccrea Banca cooperative banking group takes shape. Today, at the meeting organized in Milan with the Cooperative Credit Banks that have pre-joined the Cooperative Banking Group designed by Iccrea, in the presence of representatives of the ECB and the Bank of Italy, the state of the art of the work sites was shared for the establishment of the Cooperative Group and the numbers of the future Group updated as at 30 June 2017 were disclosed.
In front of more than 500 people, including mutual bank presidents and cooperative credit managers, the top management of the Iccrea Group presented a group which, with the 154 pre-adhering mutual banks (following the mergers of recent months), will total 2.593 branches throughout Italy, positioning itself as the third banking group by number of branches, and 20.600 collaborators.
In terms of consolidated financial statements, the Group will have 148,4 billion euros of assets, positioning itself as the fourth largest banking group in Italy, and assets of 12 billion euros. As regards the direct deposits of the Iccrea Cooperative Banking Group, this will amount to 131,2 billion euro, while loans to 91 billion euro, with a CET1 Ratio of 15,2%, and a Total Capital Ratio of 15,6 .XNUMX%.
"The Iccrea Cooperative Banking Group, which we are building together with all the BCCs that have joined the project, wants to make a difference - said Giulio Magagni, President of Iccrea Banca - at a time when the country has a strong need for banks who know how to be really close to the territory. Our project combines the completely unique experience of Cooperative Credit with the industrial needs of a rapidly evolving banking market”.
“We will be the first local bank in the country – added Leonardo Rubattu, General Manager of Iccrea Banca – and we intend to respect the deadlines and commitments made with the Italian and European supervisory authorities, with whom we have had continuous and strong collaboration. But this result is also the result of an extraordinary cooperation exercise, with the involvement of 800 collaborators from the various realities of Cooperative Credit and the holding of more than 200 meetings.
We will therefore be ready to send the application to the Bank of Italy by next December and to be operational, according to the provisions of the law, in the second half of 2018".
The Iccrea Banking Group brings together the companies that provide mutual banks with a competitive offer system, designed for their 6 million customers. Iccrea Banca SpA is the parent company and controls the companies that offer products and services for the operations of the mutual banks (institutional segment) and their preferred customers: small and medium-sized enterprises (corporate segment) and families (retail segment).
As of 8 September 2017, 300 BCCs are operating in Italy. In June 2017, there were 4.270 BCC branches. Total deposits (from banks and customers, to which bonds are added) amounted to 191,4 billion euro; economic investments amounted to 131,5 billion euro. Also considering the loans of second-level banks, the share reaches 145,8 billion euro, for a market share of 7,9%. Loans to businesses amounted to 80,5 billion euro. Also considering loans granted by second-tier banks, loans to companies amount to 91,3 billion euro, and the market share of the category is approximately 10,8%. Assets (capital and reserves) amounted to 19,6 billion euros (-2,2%).
