Nexi

Nexi S.p.A. formerly known as Istituto Centrale delle Banche Popolari Italiane S.p.A. (ICBPI) is an Italian bank that specialise in payment systems such as Nexi Payments (formerly known as CartaSi). The bank was specialised as a central institution of Italian Popular Bank. (Italian: Banca Popolare).

Nexi
Formerly
Istituto Centrale delle Banche Popolari Italiane
private società per azioni
Headquarters
55 Corso Sempione, Milan, Italy[1]:16, 366(registered office)
Key people
Michaela Castelli (Chairman)[2]
€00079 million[3] (2017)
Total assets €12,593 million (2017)
Total equity €02,051 million (2017)
Owner
Mercury UK Holdco(89.07%)[4]
ParentMercury UK Holdco Limited
Subsidiaries
Nexi Payments(98.745%)[1]:24
Bassilichi(100%)
Oasi(100%)
Help Line(70%)
Capital ratio51.67% (CET1 capital ratio,
at 2017-12-31)[1]:235, 237, 330
Websitenexi.it
Footnotes / references
in consolidated financial statement, data extracted from financial report and excluding minority interest[1]:38–41

History

Istituto Centrale delle Banche Popolari Italiane (ICBPI) was found by Banca Popolare di Cremona, Intra, Lecco, Lodi, Luino e Varese and Verona in 1939.[5]

In 2015 the bank was acquired by a consortium of Bain Capital, Advent International and Clessidra SGR; the investment managers incorporated a SPV "Mercury Bondco plc" to issue notes to raise debt, in order to lend to sister companies: Mercury A Capital Limited, Mercury B Capital Limited and Mercury ABC Capital Limited, the parent companies of Mercury UK Holdco Limited, which in turn the parent company of ICBPI.[6]

In February 2017 ICPBI acquired the card business of Banca Monte dei Paschi di Siena for €520 million.[7]

In November 2017, the company was renamed to Nexi,[8] while its card business was renamed from CartaSi to Nexi Payments.

Shareholders

Before Mercury

Credito Valtellinese (Creval) was the largest shareholders of the bank for 20.387% as at 1 January 2015.[9]

On 18 December 2015, the shares held by Creval (18.39%), Banco Popolare (13.88%), Banca Popolare di Vicenza (9.99%), Veneto Banca (9.99%), Banca Popolare dell'Emilia Romagna (9.14%), ICCREA Holding (7.42%), Banca Popolare di Cividale (4.44%), UBI Banca (4.04%), Banca Popolare di Milano (4.00%), Banca Carige (2.20%), Banca Sella Holding (1.80%) and some minor banks,[nb 1] were sold to an intermediate holding company Mercury Italy S.r.l..[10] (an investment vehicle indirectly owned by funds advised by Bain Capital, Advent International and Clessidra SGR)[11] On 29 December 2016, Mercury Italy was merged with ICBPI, which Mercury UK Holdco Limited (parent of Mercury Italy) became the new parent company of the bank.[6]

After Mercury

After the sales in December 2015, Credito Valtellinese (Creval) retained 1.9989% as the second largest shareholders, followed by Banca Popolare di Sondrio which did not sell (1.9973%). Creval, Banco Popolare (1.5%), Banca Popolare dell'Emilia Romagna (1.5%), Banca Popolare di Milano (BPM, 1.0%), UBI Banca (1.0%), Banca Popolare di Cividale (0.7%), ICCREA Holding (0.5%), Banca Sella Holding (0.2%) collectively retained about 8.4% shares.[11]

Other than BP Sondrio, only 5 more banks did not sell the shares: Banca Popolare di Bari (BP Bari; 0.1081%), Cassa di Sovvenzioni e Risparmio fra il Personale della Banca d'Italia (0.0121%), Banca Popolare del Frusinate (0.0014%), Banca Popolare Vesuviana (0.0011%) and Cassa di Risparmio di Ferrara (Carife, 0.0009%).[12]

Since the merger of Banco Popolare and BPM on 1 January 2017, Banco BPM became the second largest shareholder of ICBPI. As BPER Banca (ex-Banca Popolare dell'Emilia Romagna) also acquired Nuova Carife, as well as the disinvestment of by Cassa di Sovvenzioni e Risparmio fra il Personale della Banca d'Italia and BP Bari, making the shareholders base of ICBPI was further reduced to 11 entities (by banking group and excluding treasury shares).[4]

Footnotes
  1. namely: Banca Popolare Pugliese, Banca Agricola Popolare di Ragusa, People's Bank of South Tyrol (and ex-Banca Popolare di Marostica), Banca Popolare dell'Etruria e del Lazio, Banca Popolare di Puglia e Basilicata, Banca di Piacenza, Cassa di Risparmio di San Miniato, Banca Popolare del Lazio, San Felice 1893 Banca Popolare, Banca di Credito Popolare di Torre del Greco, Banca Popolare di Cortona, Banca Valsabbina, Banca Popolare di Fondi, Banca Popolare Valconca, Banca Popolare di Spoleto, Banca Popolare del Cassinate, Associazione Nazionale fra le Banche Popolari, Unione Fiduciaria, Banca Popolare di Lajatico, Italfondiario, Banca Popolare Lecchese, Credito Siciliano and Banca Popolare Sant'Angelo
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References
  1. "2017 Reports and Financial Statements" (PDF). Nexi. 2018. Retrieved 4 March 2019.
  2. "Governance" (in Italian). Nexi. Retrieved 4 March 2019.
  3. "Approvato il bilancio 2017 :crescono ricavi e investimenti" (PDF) (Press release) (in Italian). Milan: Nexi. 30 April 2018. Retrieved 4 March 2019.
  4. "COMPOSIZIONE CAPITALE SOCIALE ICBPI DAL 20.01.2017" (PDF) (in Italian). ICBPI. 20 January 2017. Retrieved 27 October 2017.
  5. "La Storia" [The Story] (in Italian). Milan: Istituto Centrale delle Banche Popolari Italiane. c. 2004. Archived from the original on 4 March 2016. Retrieved 24 February 2016.
  6. http://www.mercurybond.com/about-us/%5B%5D
  7. "BMPS sells its merchant acquiring business to ICBPI for a consideration of Euro 520 million" (in Italian). Banca Monte dei Paschi di Siena. 3 February 2017. Retrieved 28 November 2017.
  8. "Icbpi cambia nome, così sarà più "sexy"". La Repubblica (in Italian). Rome: GEDI Gruppo Editoriale. 10 November 2017. ISSN 2499-0817. Retrieved 28 November 2017.
  9. "COMPOSIZIONE CAPITALE SOCIALE ICBPI AL 1 GENNAIO 2015" (PDF) (in Italian). ICBPI. 1 January 2015. Retrieved 24 February 2016.
  10. "89% del Capitale Sociale di ICBPI passa a Mercury Italy S.r.l." (in Italian). ICBPI. 18 December 2015. Retrieved 24 February 2016.
  11. "DEFINITIVE AGREEMENT FOR THE DISPOSAL OF THE MAJORITY SHARE CAPITAL OF ISTITUTO CENTRALE DELLE BANCHE POPOLARI ITALIANE" (PDF). Credito Valtellinese. 18 December 2015. Retrieved 6 March 2016.
  12. "COMPOSIZIONE CAPITALE SOCIALE ICBPI AL 18 Dicembre 2015" (PDF) (in Italian). ICBPI. 18 December 2015. Retrieved 6 March 2016.
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