UBI Banca

Unione di Banche Italiane, branded as UBI Banca, is an Italian banking Group, the fifth largest in Italy by number of branches, It was formed on 1 April 2007 from the merger of the Banche Popolari Italiane (BPU) and Banca Lombarda e Piemontese banking groups.

UBI Banca shares are listed on the Milan Borsa and are included in the FTSE MIB index.

The bank

The UBI Banca Group was formed on 1 April 2007 from the merger of the BPU Banca Group and the Banca Lombarda Group. The Group operates mainly on the retail market and is present in most regions of Italy, although its focus is primarily on northern Italy.

The Group has adopted a two tier system of management and oversight (pursuant to articles 2409g and following of the Italian Civil Code) with two boards, a supervisory board and a management board.

The parent company has its headquarters in Bergamo. UBI Banca had share capital of €2,254,371,430 on 30 September 2015, consisting of 901,748,572 ordinary shares.

On 20 January the Council of Ministers issued a decree law which requires banks with assets of greater than €8 billion to transform into joint stock companies. The decree, published on 24 January, was then converted into law with Law No. 33 of 24 March 2015. UBI Banca is one of the banks to which the new legislation applies.