Banca Popolare di Milano A Key Player in Italian Banking

Banca Popolare di Milano has been a significant player in the Italian banking sector for over a century.

Established in 1865, the bank has a rich history that spans over 150 years.

Its strong presence in the region has allowed it to build a loyal customer base and establish itself as a trusted financial institution.

From its early days as a small savings bank to its current status as a major player in the Italian banking industry, Banca Popolare di Milano has consistently demonstrated its ability to adapt and innovate.

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Banca Popolare di Milano was founded in 1865 in Milan by Luigi Luzzatti, who later became the nation's Prime Minister.

Luzzatti drew his inspiration from the 'credit associations' developed by Hermann Schulze-Delitzsch in Germany a decade earlier.

The bank was the second cooperative bank in Italy, following the Banca Popolare di Lodi.

BPM has grown considerably since the 1950s by buying interests in other banks, including Banca Popolare di Roma and Banca Agricola Milanese.

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By the 1950s, BPM had expanded its operations through strategic acquisitions.

The bank's exposure to securities of "PIGS countries" was less than 22 million euros, a relatively small amount compared to other banks.

BPM has also been involved in various other business ventures, including the acquisition of Factorit spa from Banco Popolare for 51 million euros in 2010.

In 2010, BPM announced an alliance agreement with Monte dei Paschi di Siena and Clessidra Sgr to combine Anima Sgr with Prima Sgr and set up a new independent operator in asset management.

This marked an important milestone in the bank's history, as it expanded its presence in the asset management sector.

The bank has a long history of innovation and adaptation, as evident from its establishment of ProFamily, a new company specializing in consumer credit, in 2010.

BPM's commitment to growth and innovation has enabled it to remain a major player in the Italian banking sector.

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The Banca Popolare di Milano was founded on August 3, 1865, with an assembly of 350 citizens from various backgrounds preparing the institution's establishment and statute.

The first official activity of the bank began on January 25, 1866, with 404 founding members subscribing to 1,086 shares for a capital of 56,000 Lire.

The bank's initial year saw great interest, with 700 new association requests and a capital increase to 220,000 Lire, almost entirely paid in, and 8,000 Lire reserved.

By the end of its first five years, the bank had achieved excellent results, with 2,500 members owning 29,706 shares, representing a fully paid capital of 1,500,000 Lire.

The bank's first assembly and foundation took place on August 3, 1865, with 350 citizens from various backgrounds in attendance, and the first assembly of 184 members took place on August 21, 1865.

On December 12, 1865, the notary Girolamo Corridori drafted the act of constitution of the Società Anonima a Responsabilità Limitata, Banca Popolare di Milano, and authorized it with Royal Decree No. 1710 of December 23, 1865.

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In 1998, the Banca Popolare di Milano became the first Italian bank to offer Migrant Banking services.

The bank's first attempts to open branches were met with failure, with two branches opened in 1881 in the Porta Genova and Porta Ticinese neighborhoods, but closed two years later in 1883.

It took nearly 30 years for the bank to reconsider opening new branches, with the first new branch opened in 1911 in Sesto San Giovanni, a strategic location with a large industrial presence.

The bank's first branch outside of Milan was a significant step, but it wasn't until the 1911 branch in Porta Vittoria that the bank's expansion truly began, with over 400 new accounts opened by the end of 1913.

The Banca Popolare di Milano made a strong entrance into the Italian banking scene.

In the mid-1950s, the bank surpassed other agencies located outside of Milan, with 34 branches compared to 31 on the city's soil.

The bank's growth was fueled by the significant industrial expansion in Milan and Lombardy, which led to a substantial increase in clients, reaching 200,000 by the end of the period.

This impressive growth allowed the bank to implement a new expansion policy, opening new centers in Milan and surrounding areas.

The Italian banking miracle was in full swing by the mid-1950s. The Banca Popolare di Milano was a prime example, surpassing its competitors with 34 agencies outside of Milan, compared to 31 within the city.

This growth was largely driven by the industrial boom that swept through Milan and Lombardy, attracting a massive 200,000 clients to the bank. That's a remarkable number, especially considering the time period and the bank's expansion strategy.

The bank's aggressive expansion plan was made possible by a 40 billion increase in deposits in 1961 alone. This influx of capital allowed the bank to open new branches in Milan and beyond, including in Bresso, Arese, Bollate, and Cologno Monzese.

By the end of this period, the Banca Popolare di Milano had established a strong presence in the region, with a significant number of agencies and a large client base.

The Agricola bank, a significant player in Italian banking, has a fascinating history. It was founded in 1874 and operated primarily in the southern province of Milan.

The bank's strategic location made it an attractive partner for the Popolare di Milano, which had been expanding its reach in the northwestern region. To avoid a complete takeover, the Agricola bank was forced to negotiate an agreement with the Popolare di Milano's leadership.

This agreement was structured around four key points, which aimed to promote cooperation and integration between the two banks. Here are the details of the agreement:

These agreements not only ensured the survival of the Agricola bank but also paved the way for further collaboration and growth in the Italian banking sector.

Banca Popolare di Milano made several strategic moves to expand its reach and avoid limitations imposed by the Banca d'Italia.

The bank acquired the Banca Popolare di Roma, and then realized that fusion and collaborative agreements with complementary credit institutions were the only viable options for further expansion.

In the late 1950s, the Banca Popolare di Milano was forced to make a significant dimensional leap to avoid being trapped between the powerful Cassa di Risparmio delle Provincie Lombarde and the industrial takeovers by large Milanese companies in the secondary sector on local credit institutions.

The bank acquired the Mobiliare Milanese, gaining control of the entire 600 million lire capital. However, internal resistances and the Agricola Milanese's syndicate agreement prevented the merger with the Agricola Milanese and Briantea.

The first acquisition of Banca Popolare di Milano was a significant move in its expansion strategy. The bank had been growing rapidly and was looking to expand beyond its traditional Lombardy region.

In 1924, the bank acquired the Banca Popolare di Roma, which was the only bank operating in the capital at the time. This acquisition marked a major shift in the bank's growth strategy.

The acquisition was a strategic move to increase the bank's presence in the capital and to tap into the growing market. Banca Popolare di Milano was able to expand its services to the people of Rome, providing them with a wider range of financial products.

The acquisition of Banca Popolare di Roma was a turning point for the bank, marking the beginning of its expansion beyond the Lombardy region. It was a bold move that paid off, allowing the bank to increase its customer base and expand its services.

The bank was able to acquire the Banca Popolare di Roma due to its strong liquidity and its desire to expand beyond the Lombardy region. This acquisition was a key factor in the bank's growth and expansion.

The Banca Popolare di Milano realized that to avoid expansion limitations imposed by the Banca d'Italia, they had to explore other options.

One of these options was to form alliances with complementary credit institutions, a strategy they likely adopted after acquiring the Banca Popolare di Roma.

In the late 1950s, the Banca Popolare di Milano was forced to make a significant leap in size to avoid being trapped between the competition from the powerful Cassa di Risparmio delle Provincie Lombarde and the industrial takeovers by large Milanese companies.

They achieved this by forming agreements with other credit institutions, a crucial move that helped them stay competitive in the market.

The Banca Popolare di Milano's decision to form alliances with other credit institutions was likely influenced by the experience of the Banca Provinciale Lombarda and the Credito Commerciale, which were both taken over by the Bergamasca Italcementi.

In 2010, BPM's administration council decided to sell its depositary banking activity to Bnp Paribas, generating a profit of around 50 million euros.

This move was made possible by the sale of the 51% stake in Bipiemme Vita to Fondiaria Sai for 113 million euros, after receiving authorization from the Bank of Italy in June 2010.

BPM also inaugurated ProFamily, a new company specializing in consumer credit, in June 2010, following the Bank of Italy's approval in November 2009.

BPM entered into an alliance with Monte dei Paschi di Siena and Clessidra Sgr to merge Anima Sgr with Prima Sgr and create a new independent player in the asset management market in July 2010.

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The company Bipiemme Vita established a new liability company called Bipiemme Assicurazioni in August 2010.

In 2011, BPM sold 81% of Bipiemme Vita's capital to the French insurance company Covéa for 243 million euros.

BPM acquired the Banca di Legnano through a merger in September 2013.

The online banking platform Webank was incorporated into BPM in November 2014, after the approval of the merger project by the councils of both companies in June 2014.

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The S.p.A. transformation is a significant step in a company's life cycle. In the case of the Banca Popolare di Milano, this transformation occurred in 2017 after its merger with Banco Popolare.

The merger created a new entity called Banco BPM S.p.A. This new company was formed by combining the assets and liabilities of the two banks. The merger was approved by the assembly of shareholders, with 71.79% of attendees voting in favor.

As a result of the merger, the Banca Popolare di Milano ceased to exist as a separate entity and became a subsidiary of Banco BPM S.p.A. This change in ownership structure had significant implications for the bank's operations and governance.

In 2018, the Banca Popolare di Milano S.p.A. was incorporated into Banco BPM S.p.A. This move eliminated the need for a separate board of directors and management team.

The Banca Popolare di Milano was a cooperative bank made up of several entities, including Banca Popolare di Milano, Banca Popolare di Mantova, Banca Akros, and ProFamily.

It had a unique ownership structure, with over 112,000 shareholders, of which 55,500 were actual members.

Each member had one vote, regardless of the number of shares they owned, a feature known as the "voting capital" system.

To become a member, one had to submit a written application and receive approval from the bank's management.

Many employees of the bank were also members of the cooperative, actively participating in the bank's decision-making process.

As members, employees were entitled to a 5% share of the bank's net profit.

Banca Popolare di Milano's leadership is characterized by a strong focus on community involvement. The bank has a long history of supporting local initiatives and organizations.

One notable example of this is the bank's commitment to the "Banca Popolare di Milano Foundation", which has donated millions of euros to charitable causes over the years. This demonstrates the bank's dedication to giving back to the community.

The bank's leadership team is made up of experienced professionals who have a deep understanding of the local market and economy. They have a proven track record of making informed decisions that benefit the bank and the community it serves.

The success of a leader lies in their ability to connect with the people they serve, and this is especially true for leaders of organizations that aim to benefit the community.

A great example of this is the Banca Popolare, which made it a priority to link with the weaker segments of the city's economy.

Their early successes were largely due to the significant capital they received from Milan's high bourgeoisie, creating a significant divide between the working-class minority and the majority of bourgeois entrepreneurs and aristocrats within the ownership.

This realization led the Banca Popolare to establish a limit on the voting power of shareholders (as stated in Article 11 of their original statute, now Article 13), providing a safeguard for less affluent members.

The new headquarters of Banca Popolare di Milano was a monumental project that took almost a decade to complete. The construction of the new headquarters began in 1923, with a commission led by Enrico Belloni, and the design was later entrusted to architect Giovanni Greppi in 1925.

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The previous headquarters were located in different buildings throughout the city, including Palazzo Carmagnola (1866-1870), Palazzo dei Giureconsulti in P.zza Mercanti (1870-1872), Palazzo Corio-Casati in Via S.Paolo (1872-1931), and Palazzo in P.zza Meda (1931-oggi).

To make way for the new headquarters, several buildings were demolished, including those in piazza Francesco Crispi, which is now piazza Filippo Meda. The new headquarters, which still serves as the official and historic seat of Banca Popolare di Milano, was completed in 1931 and inaugurated on December 8 of the same year.

Here's a brief timeline of the previous headquarters:

The new headquarters was a significant achievement, especially considering the economic crisis and war that followed.

In the world of leadership, it's essential to understand the importance of strategic partnerships. La Popolare di Milano identified Banca Briantea as a potential ally in its expansion plans.

La Popolare di Milano acquired control of Banca Briantea, holding a majority stake of between 60% and 70%. This move was a strategic one, designed to complement the activities of both institutions.

The location of Banca Briantea's branches was seen as a natural fit with La Popolare di Milano's existing operations.

The presidents of the Banca Popolare di Milano have played a crucial role in shaping the bank's history and success.

Luigi Luzzatti was the bank's first president, serving from 1865 to 1870, and remained an honorary president until 1927.

The bank has had a total of 20 presidents since its founding in 1865.

Here's a list of the presidents, in chronological order:

The Banca Popolare di Milano had a governance structure that was quite unique. It was a dualistic system, meaning it had two main bodies: the Assemblea dei Soci and the Consiglio di Sorveglianza.

The Assemblea dei Soci was responsible for electing the Consiglio di Sorveglianza and was convened at least once a year. This ensured that the interests of the shareholders were always represented.

The Consiglio di Sorveglianza, on the other hand, was in charge of supervising the operational management and approving the budget. It also had the power to appoint the members of the Consiglio di Gestione.

The Consiglio di Gestione was responsible for running the business and defining the company's strategic lines. It also appointed the Top Management and identified a Consigliere Delegato, who served as the head of the executive management.

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Banca Popolare di Milano has received numerous awards and recognitions for its innovative initiatives and commitment to social responsibility.

In 2011, the bank won the ABI Award for innovation in banking services for its "Fondo Nasko" initiative, which provides financial assistance to struggling mothers.

This initiative has made a significant impact, allowing mothers to receive economic support from before pregnancy to after childbirth.

The bank also received the "Innovazione per la collettività: la banca di oggi per il mondo di domani" award, which honors services that benefit the entire community.

In 2010, Banca Popolare di Milano was awarded the Sodalitas Social Award for its "percorso di sviluppo per le capacità relazionali della popolazione IT" project.

This project focuses on personal development and values such as responsibility and respect for diversity.

The bank's commitment to environmental protection was recognized in 2009, when it won the AIFIn "Banca e territorio" award for its CO2 compensation project, which created the Bosco BPM within the Parco Nord Milano.

Banca Popolare di Milano has also been recognized for its support of individuals with disabilities, receiving a special mention for its "Modello di gestione delle risorse diversamente abili" program.

This program aims to value and support human capital, particularly in the area of psychological support.

In 2008, the bank's asilo nido aziendale "Il giardino di Bez" was awarded the Premio Famiglia-Lavoro in the category of "Miglior programma di supporto alla genitorialità".

The bank's commitment to supporting its international clients was recognized in 2006 with the Sodalitas Social Award and the WelcomeBank Award.

These awards demonstrate the bank's dedication to social responsibility and innovation in its services.

Banca Popolare di Milano has a strong commitment to social responsibility. This commitment is rooted in its cooperative origins and mission to support the development of the productive system.

The bank has a Carta dei Valori e degli Impegni, a document that outlines its values and principles for responsible behavior. This document was introduced in 2009 and aims to promote a culture of responsible action.

Banca Popolare di Milano is proactive in addressing social and environmental aspects. It considers the needs of all its stakeholders and strives to be a reference point for values and decision-making processes.

In 2012, the European agency Standard Ethics temporarily suspended its rating of the bank due to some issues. However, the bank's commitment to social responsibility remains a key aspect of its operations.