Banca Popolare di Sondrio

People's Bank of Sondrio

Native name	Banca Popolare di Sondrio
Company type	Listed cooperative
Traded as	BIT: BPSO
Founded	1871
Headquarters	Sondrio , Italy
Area served	Northern Italy, Switzerland
Revenue	$1.5 billion (2023)
Net income	$264.1 million (2023)
Total assets	$61.7 billion (2023)
Total equity	€2,221,418,922 (2014)
Capital ratio	15.7% (Tier 1)^[1]
Website	www.popso.it

Banca Popolare di Sondrio S.C.p.A. (BPSO) is an Italian bank based in Sondrio, Lombardy. The company is included in FTSE Italia Mid Cap Index. It has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.^[2]^[3]

History

Banca Popolare di Sondrio was an urban cooperative bank found in 1871. Along with Credito Valtellinese, they were the major banks inside the Province of Sondrio.

The bank also owned equity interests in several companies that provide services to the bank, such as Banca Italease (4.252% on 30 June 2009), Arca Vita and Istituto Centrale delle Banche Popolari Italiane (2%).

In 2009–11 Banca Italease was dismantled. BPSO acquired 20.95% stake in Alba Leasing as well as 60.5% stake in Factorit.

Due to Decree-Law N°3/2015, the bank would be demutualized. However, it was held due to an appeal to the court.

In September 2017 the bank announced that, they acquired Banca della Nuova Terra.^[4]

In March 2024, the company launched a €200 million subordinated bond repurchase programme maturing on 30 July 2029.^[5]

Equity interests

ARCA SGR

References

^ Approvazione preliminare risultati consolidati popso.it
^ "The list of significant supervised entities and the list of less significant institutions" (PDF). European Central Bank. 4 September 2014.
^ "List of supervised entities" (PDF). European Central Bank. 1 January 2023.
^ "Banca Popolare di Sondrio acquisisce il 100% del capitale sociale di Banca della Nuova Terra" (PDF) (Press release). Banca Popolare di Sondrio. 8 September 2017. Retrieved 14 November 2017.
^ "La Banca Popolare di Sondrio riacquista un bond da 200 milioni e ne emette di nuovi. Le voci di M&A spingono l'azione in borsa". Milano Finanza. March 4, 2024. (subscription required)

External links

Official website

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