Banca di Credito Sardo

The Banca di Credito Sardo S.p.A. was an Italian bank headquartered in Cagliari, Sardinia. In 2014 it was absorbed by the parent company Intesa Sanpaolo.

Banca di Credito Sardo
Formerly
  • Credito Industriale Sardo
  • Banca CIS
Subsidiary of a listed company
IndustryFinancial services
Founded1953
Defunct2014
Headquarters
Cagliari, Sardinia
,
Italy
Number of locations
 90 branches (2013)
Area served
Sardinia Island
ServicesRetail and corporate Banking
(€84,661,930) (2013)
Total assets €4,800,897,239 (2013)
Total equity €443,129,692 (2013)
OwnerIntesa Sanpaolo (100%)
Number of employees
 1022 (2013)
ParentIntesa Sanpaolo
Capital ratio 15.81% (Tier 1)
WebsiteOfficial website
Footnotes / references
source[1]

The head office building, located in Cagliari, was designed by the Italian architect Renzo Piano.

History

Credito Industriale Sardo, ente di diritto pubblico con personalità giuridica propria, was established in 1953 as one of the 19 Mediocredito of Italy, as well as one of the three Istituti per il Finanziamento a Medio Terminealle Medie e Piccole Industrie nell'Italia Meridionale e Insulare (Istituti Meridionale), which were funded by Cassa per il Mezzogiorno.[2] The bank provided medium term loan to small and medium industries from the island.

Due to Legge Amato, the bank became a limited company (Italian: Società per Azioni) in 1992.[3] The bank renamed into Banca CIS in 1990s. In 2000 Mediocredito Lombardo, a subsidiary of Banca Intesa, acquired an additional 53.23% stake of Banca CIS from the Ministry of the Treasury, making Mediocredito Lombardo owned 55.37% stake.

In February 2009 the 93 branches of Intesa Sanpaolo and Banca CIS were merged to form Banca di Credito Sardo. At the same time the core business (medium term lending to enterprises) was transferred to Mediocredito Italiano (ex-Mediocredito Lombardo). However, Banca di Credito Sardo was absorbed into Intesa Sanpaolo in 2014.[4]

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References
  1. "2013 Bilancio" [2013 Annual Report] (PDF) (in Italian). Banca di Credito Sardo. 8 April 2014. Retrieved 3 April 2016.
  2. Italian Parliament (5 May 1953). "Sviluppo dell'attivita' creditizia nel campo industriale nell'Italia meridionale ed insulare" (in Italian). Italian Republic Official Gazette. Retrieved 3 April 2016.
  3. Ministry of the Treasury (29 April 1992). "Approvazione del progetto di ristrutturazione presentato dal Credito industriale sardo" (in Italian). Italian Republic Official Gazette. Retrieved 3 April 2016.
  4. "INTESA SANPAOLO: MERGER BY INCORPORATION OF BANCA DI CREDITO SARDO S.P.A. AND CASSA DI RISPARMIO DI VENEZIA S.P.A. INTO INTESA SANPAOLO S.P.A." Intesa Sanpaolo. 15 September 2014. Retrieved 3 April 2016.

See also
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