With the filing of the deed of merger by incorporation of TerFinance, a Piedmontese financial company specializing in salary-backed loans, in CrediTer, formerly Credito Salernitano, ViViBanca was born, a new bank specializing in household credit through the disbursement of loans against salary assignment fifth and in online collections on the retail market.
ViViBanca will immediately operate with the structures and professionalism of the two realities from which it was born through 2 branches, 80 employees, 70 agents, 700 branches of affiliated banks and online through dedicated Internet Banking services.
In terms of solidity ratios, considerably exceeding the limits imposed by the European Central Bank, ViViBanca has shareholders' equity of 31,6 million Euros, a CET1 ratio of 18,88%, a total capital ratio of 20,39% and a texas ratio of 70,7%.
The name, the brand and the institutional pay-off "Your bank for life" were designed to effectively and immediately communicate the strategic positioning of the new reality: an online bank, clear, simple, innovative and Italian, dedicated to families and to all the people who believe in the future. A bank to live together, to live better.
ViViBanca will increase the Italian banking system by positioning itself as a reality aimed at satisfying the financing, investment and Internet Banking needs of families, young people and all people who believe in the future, supporting them in their life projects with clear and innovative.
Wishing to retrace the steps of the operation, it should be recalled that last December - after obtaining the authorizations from the European Central Bank and the Bank of Italy for the merger operation between the two companies - TerFinance Spa acquired the absolute majority of the capital of the Credito Salernitano, already transformed from a popular bank into a joint-stock company, through a capital increase of 8 million euros subscribed almost entirely by TerFinance and its shareholders. With the subsequent reverse merger by incorporation of TerFinance into Credito Salernitano, a new bank was created with the financial resources to support future growth objectives.
"In the panorama of the supervised intermediaries system, this transaction represents an all-Italian innovative project of strengthening and development", declared Germano Turinetto, Chief Executive Officer of ViViBanca SpA.
“Thanks to the significant capitalization sustained by the shareholders of TerFinance,” – added Turinetto – “today ViViBanca enjoys capital ratios that are far higher than the requirements imposed by the Supervisory Authorities and is ready to embark on an important development path that will be presented to the financial community within the first half of 2017”.
