Istituto per lo Sviluppo Economico dell'Italia Meridionale S.p.A., known as ISVEIMER, is a former Italian bank based in

Naples Naples ( ; ; ) is the Regions of Italy, regional capital of Campania and the third-largest city of Italy, after Rome and Milan, with a population of 908,082 within the city's administrative limits as of 2025, while its Metropolitan City of N ...

, Campania. The bank was in liquidation since 1996, which the headquarter of the company was relocated to Rome. However, due to the subsidized loan, the company was still in wind-down phase as in 2015.

History

The bank was established in 1938 and since 1953 as one of the 19 Mediocredito of Italy and one of the three Istituti per il Finanziamento a Medio Terminealle Medie e Piccole Industrie nell'Italia Meridionale e Insulare (Istituti Meridionale) which was funded by

Cassa per il Mezzogiorno The Cassa del Mezzogiorno () was a public effort by the government of Italy to stimulate economic growth and development in the less developed Southern Italy (also known as the ''Mezzogiorno''). It was established in 1950 primarily to encourage the ...

. The bank provided medium term loan to small and medium industries from Southern Italy, except in the two islands (covered by Credito Industriale Sardo and IRFIS respectively). Due to Legge Amato, the bank became a limited company () in 1993. At the time

Banco di Napoli Banco di Napoli S.p.A., among the oldest banks in the world, was an Italian banking subsidiary of Intesa Sanpaolo group, as one of the 6 retail brands other than "Intesa Sanpaolo". It was acquired by the Italian banking group Sanpaolo IMI (the ...

owned 44.859% stake, plus an additional 6.16% stake were purchased from Cassa di Risparmio di Calabria e Lucania, Banca Popolare di Novara, Banca Sannitica,

Banca di Roma Banca di Roma was an Italian bank based in Rome, formed in 1992 by merger of Banco di Santo Spirito and Banco di Roma. From 2008 it was a subsidiary of UniCredit under the name UniCredit Banca di Roma S.p.A.. In 2010 the subsidiary was absorbed ...

, Banca della Provincia di Napoli, Cassa di Risparmio della Provincia dell'Aquila, Cassa di Risparmio Salemitana, Banca Popolare di Taranto, Banca di Credito Popolare di Torre del Greco and Banca Popolare di Crotone. However, in 1996, the bank entered a voluntary liquidation. After the start of liquidation, Banco di Napoli owned a controlling stake in ISVEIMER (65.22% in 2001), as well as an additional 0.17% stake owned by

Banca dell'Adriatico Banca dell'Adriatico S.p.A. was an Italian regional bank based in Pesaro, Marche. The bank was a subsidiary of Intesa Sanpaolo. History Banca Popolare Pesarese was found in Pesaro, Marche in 1875, at that time a cooperative bank. In 1989 the bank ...

, a bank joined Sanpaolo IMI Group in 2002. The stake held by Banco di Napoli and Banca dell'Adriatico soon transferred to parent company Sanpaolo IMI (65.40% stake in 2006), and then

Intesa Sanpaolo Intesa Sanpaolo Società per azioni, S.p.A. is an Italian international banking group. It is Italy's largest bank by total assets and the world's 27th largest. It was formed through the merger of Banca Intesa and Sanpaolo IMI in 2007, but has a ...

in 2007 (65.47% stake). An additional 0.04% stake was owned by Cassa di Risparmio di Ascoli Piceno, a

Banca Intesa Banca Intesa S.p.A. was an Italian banking group, formed in 1998 by merger of Cassa di Risparmio delle Provincie Lombarde (Cariplo) and Banco Ambrosiano Veneto. The next year, the banking group merged with Banca Commerciale Italiana to become ...

subsidiary.

References

External links

* Banks established in 1938 Italian companies established in 1938 Banks disestablished in 1996 Italian companies disestablished in 1996 Defunct banks of Italy Companies based in Naples Sanpaolo IMI acquisitions Former Intesa Sanpaolo subsidiaries Formerly government-owned companies of Italy {{Italy-bank-stub