Credito Siciliano was an Italian bank headquartered in

Acireale Acireale (; , locally shortened to ''Jaci'' or ''Aci'') is a coastal city and ''comune'' in the north-east of the Metropolitan City of Catania, Sicily, southern Italy, at the foot of Mount Etna, on the coast facing the Ionian Sea. It is home to ...

Sicily Sicily (Italian language, Italian and ), officially the Sicilian Region (), is an island in the central Mediterranean Sea, south of the Italian Peninsula in continental Europe and is one of the 20 regions of Italy, regions of Italy. With 4. ...

and previously

Palermo Palermo ( ; ; , locally also or ) is a city in southern Italy, the capital (political), capital of both the autonomous area, autonomous region of Sicily and the Metropolitan City of Palermo, the city's surrounding metropolitan province. The ...

. It was a subsidiary of

Credito Valtellinese Credito Valtellinese (known as Creval) was an Italian bank based in Sondrio (in Lombardy, Italy) prior to its acquisition by Crédit Agricole Italia in 2021. The company was a former component of FTSE Italia Mid Cap Index of the Borsa Italiana ...

until its merger by incorporation into Credito Valtellinese in June 2018. The bank had 136 branches, 133 located in Sicily (Province of

Agrigento Agrigento (; or ) is a city on the southern coast of Sicily, Italy and capital of the province of Agrigento. Founded around 582 BC by Greek colonists from Gela, Agrigento, then known as Akragas, was one of the leading cities during the golden ...

: 4; Province of

Caltanissetta Caltanissetta (Sicilian language, Sicilian: ''Cartanissètta)'' is an Italian comune with a population of 58,012 inhabitants, serving as the capital of the Province of Caltanissetta, free municipal consortium of Caltanissetta in Sicily. The earl ...

: 7; Province of

Catania Catania (, , , Sicilian and ) is the second-largest municipality on Sicily, after Palermo, both by area and by population. Despite being the second city of the island, Catania is the center of the most densely populated Sicilian conurbation, wh ...

: 51; Province of

Enna Enna ( or ; ; , less frequently ), known from the Middle Ages until 1926 as Castrogiovanni ( ), is a city and located roughly at the center of Sicily, southern Italy, in the province of Enna, towering above the surrounding countryside. It has e ...

: 2; Province of

Messina Messina ( , ; ; ; ) is a harbour city and the capital city, capital of the Italian Metropolitan City of Messina. It is the third largest city on the island of Sicily, and the 13th largest city in Italy, with a population of 216,918 inhabitants ...

: 18; Province of Palermo: 26; Province of

Ragusa Ragusa may refer to: Places Croatia * Ragusa, Dalmatia, the historical name of the city of Dubrovnik * the Republic of Ragusa (or Republic of Dubrovnik), the maritime city-state of Ragusa * Ragusa Vecchia, historical Italian name of Cavtat, a t ...

: 9; Province of Siracusa: 6 and Province of

Trapani Trapani ( ; ; ) is a city and municipality (''comune'') with 54,887 inhabitants, on the west coast of Sicily, in Italy. It is the capital of the Province of Trapani. Founded by Elymians, the city is still an important fishing port and the mai ...

: 10), plus 3 more in mainland Italy (

Milan Milan ( , , ; ) is a city in northern Italy, regional capital of Lombardy, the largest city in Italy by urban area and the List of cities in Italy, second-most-populous city proper in Italy after Rome. The city proper has a population of nea ...

Rome Rome (Italian language, Italian and , ) is the capital city and most populated (municipality) of Italy. It is also the administrative centre of the Lazio Regions of Italy, region and of the Metropolitan City of Rome. A special named with 2, ...

Turin Turin ( , ; ; , then ) is a city and an important business and cultural centre in northern Italy. It is the capital city of Piedmont and of the Metropolitan City of Turin, and was the first Italian capital from 1861 to 1865. The city is main ...

Predecessors

Banca del Monte Sant'Agata

Three separate

mounts of piety Mount is often used as part of the name of specific mountains, e.g. Mount Everest. Mount or Mounts may also refer to: Places * Mount, Cornwall, a village in Warleggan parish, England * Mount, Perranzabuloe, a hamlet in Perranzabuloe parish, ...

() were founded in Catania, at that time part of the

Kingdom of Sicily The Kingdom of Sicily (; ; ) was a state that existed in Sicily and the southern Italian peninsula, Italian Peninsula as well as, for a time, in Kingdom of Africa, Northern Africa, from its founding by Roger II of Sicily in 1130 until 1816. It was ...

. Monte Grande di Pietà di Sant'Agata, the second mount of the city that named after St.

Agatha of Sicily Agatha of Sicily () is a Christian saint. Her feast is on 5 February. Agatha was born in Catania, part of the Roman Province of Sicily, and was martyred . She is one of several virgin martyrs who are commemorated by name in the Canon of the Ma ...

, was founded on 17 December 1809. The mount survived until the modern age of Italy, which was last known as Monte di Credito su Pegno – Banca del Monte Sant'Agata di Catania, a credit institution that was governor by , the Italian banking law. The institute was in special administration () from 1992. The institute was also under a.s. in 1981. In 1994, a

company limited by shares A private company limited by shares is a class of private limited company incorporated under the laws of England and Wales, Hong Kong, Northern Ireland, Scotland, certain Commonwealth jurisdictions, and the Republic of Ireland. It has shareho ...

, was incorporated by the administrator as Nuova Banca del Monte Sant'Agata S.p.A., acquiring the assets and liabilities of the institute; the old institute was being liquidated (). The new legal person was later acquired by fellow Sicilian bank Banca Popolare Sant'Angelo.

Banca Regionale Sant'Angelo

Banca Regionale Sant'Angelo was an Italian bank based on 1/E via Siracusa, Palermo, Sicily. The bank was formed by Banca Popolare Sant'Angelo injected part of the bank assets to Nuova Banca del Monte Sant'Agata S.p.A. on 1 January 2001, as well as sold the company to Credito Artigiano (part of

group) in mid-2001, by the subscription of the capital increase of Banca Regionale Sant'Angelo, by Credito Artigiano. The shares of Banca Regionale Sant'Angelo was also distributed to the shareholders of Banca Popolare Sant'Angelo, making Credito Artigiano launched a public acquisition offer () to buy the remaining 55% shares of the Banca Regionale in 2001. In 2002, Banca Regionale Sant'Angelo absorbed other subsidiaries of Credito Valtellinese to form Credito Siciliano. The former headquarters of Banca Monte Sant'Agata on via Sant'Euplio, Catania, was sold to a company. The site was refurbished as a hotel.

Leasingroup Sicilia

Leasingroup Sicilia was a finance leasing company based in Sicily. Banca Popolare Sant'Angelo increased it stake in the company in 1990s, but spin off to inject the stake to Banca Regionale Sant'Angelo circa 2001. As at 31 December 2001, Banca Popolare di Lodi also owned 5.12% stake .

History

Credito Siciliano was formed on 1 July 2002 by the merger of Banca Popolare Santa Venera (a subsidiary of Credito Valtellinese), Banca Regionale Sant'Angelo (a subsidiary of Credito Artigiano), Leasingroup Sicilia (a subsidiary of Banca Regionale Sant'Angelo, with BP Santa Venera had a minority interests) and the retail division of Cassa San Giacomo (a subsidiary of Credito Valtellinese). The new bank was owned by

for 39.43% shares, as well as through its subsidiary Credito Artigiano for an additional 35.79% shares at that time. In 2008, the bank recorded a profit of 12.4 million euros. In May 2018, the merger by incorporation of Credito Siciliano into Creval was approved, with the exchange ratio set at 78.35 new Creval shares. On 25 June 2018, the merger by incorporation into Credito Valtellinese became effective.

Predecessors

Banca del Monte Sant'Agata

Banca Regionale Sant'Angelo

Leasingroup Sicilia

History

References

See also