Hypo Alpe-Adria-Bank S.p.A. also known as HBI was an Italian bank based in

Tavagnacco Tavagnacco () is a (municipality) in the Regional decentralization entity of Udine in the Italian region of Friuli-Venezia Giulia, located about northwest of Trieste and about north of Udine. The municipal seat is in the (borough) of Feletto ...

, in the Province of Udine, Friuli – Venezia Giulia region. The registered office of the bank was located in Udine. In the past, the bank was a subsidiary of

Hypo Alpe-Adria-Bank International Heta Asset Resolution A.G. is a " bad bank" that was the residual asset of the original Hypo Alpe-Adria-Bank International A.G., which was dismantled in 2014. It was owned by the Government of Austria. The bad bank contained the leasing subsidi ...

, which was planned to wind down as "bad bank" and separate saleable assets in 2013 as "good bank". In 2014 the subsidiary was spun off from the bad bank as a separate wind-down unit. As at 31 December 2014, Hypo Italy was a subsidiary HBI-Bundesholding A.G., a Vienna-based sub-holding company for the

government of Austria The Government of Austria () is the executive cabinet of the Republic of Austria. It consists of the chancellor, who is the head of government, the vice chancellor and the ministers. Appointment Since the 1929 reform of the Austrian Con ...

. The bank had 19 branches in Italy: Veneto (7), Lombardy (6) and Friuli – Venezia Giulia (6) before the company closed all the branches on 23 December 2016. The Italian

leasing A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial ...

department of Hypo Alpe-Adria Italy remained in the bad bank, now known as Heta Asset Resolution Italia S.r.l., a subsidiary of Heta Asset Resolution (sold in 2016 to a private equity fund).

History

The bank was founded in 1986 as Finservice S.r.l., a company provides finance lease. In 1988 it was purchased by Kärntner Landes und Hypothekenbank (later trading as Hypo Alpe-Adria-Bank). The bank was renamed into Hyposervice S.r.l. and became società per azioni in 1990. In 1998 the company became a bank. The parent company was nationalized in 2009. In March 2014 the Italian subsidiary was spin off from the bad bank, except the leasing department. The entire board of directors except the independent director was replaced. Former chairman Johannes Leopold Proksch, vice-chairman Rainer Sichert, director Lorenzo Snaidero and Stephan Holzer were all fined by the

Bank of Italy The Bank of Italy (Italian language, Italian: ''Banca d'Italia'', , informally referred to as ''Bankitalia'') is the National central bank (Eurosystem), national central bank for Italy within the Eurosystem. It was the Italian central bank from ...

. Italian

Guardia di Finanza The Guardia di Finanza (; G. di F. or GdF; or ) is an Italian militarised law enforcement agency under the Ministry of Economy and Finance (Italy), Ministry of Economy and Finance, instead of the Ministry of Defence (Italy), Ministry of Defence ...

also started an investigation on the former leasing department on possible overcharging interests from the borrower in October 2014. As at 31 December 2014, the Common Equity Tier 1 ratio had fallen to 0.58%, much lower than

Basel III Basel III is the third of three Basel Accords, a framework that sets international standards and minimums for bank capital requirements, Stress test (financial), stress tests, liquidity regulations, and Leverage (finance), leverage, with the goa ...

requirement of 4.5%. In 2014 Hypo Italy had 26 branches. In 2016, the bank also made an open invitation to submit

expression of interest An invitation to tender (ITT, also known as a call for bids or a request for tenders) is a formal, structured procedure for generating competing offers from different potential suppliers or contractors looking to obtain an award of business activ ...

to acquire the branches and performing mortgage portfolio. In 2016 Banca Valsabbina purchased seven branches from Hypo as well as a loan portfolio of €150 million. In April 2017 another pool of assets was under sale.

References

External links

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Hypo Alpe-Adria Bank Italy Headquarters
by

Morphosis Morphosis Architects is an interdisciplinary architectural and design practice based in Los Angeles and New York City. History The firm was informally founded in 1972 by Michael Brickler, Thom Mayne, Livio Santini and James Stafford. Michael Rot ...

{{Authority control Banks established in 1986 Defunct banks of Italy Companies based in Udine Bad banks Bank failures Italian companies established in 1986