Credito Italiano
Encyclopedia
Credito Italiano it was an Italian bank, now part of UniCredit Group. It was absorbed by Unicredit in 1998.
Founded on April 28 1870 in Genoa
as Banca di Genova, it took part in the establishment of Banco d'Italia (1871) and
opened the first trans-atlantic banking business with Buenos Aires
(1872). Local shareholders were local nobility (Pallavicino and Balbi
), bankers (Quartara, Polleri) and merchants (Lagorio, Dodero, Bacigalupo), creating an initial capital of 3 million lira
.
It acquired "Banca Vonwiller" of Milan
, but a large national financial crisis led to refinancing
by German banks and name change to "Credito Italiano" (1895). Later, it acquired
"Banca Manzi" of Rome
(1901) and
"Banca Meuricoffre" of Napoli (1905).
Its headquarters moved to Piazza Cordusio in Milan, and, despite the Italo-Turkish War
and World War I
, it was able
to open branch offices in London
(1911) and New York City
(1917), as well as in Paris
and Berlin
(1921).
Later it acquired the "Banca del Monferrato", "Banca di Legnano
", "Credito Varesino
and the Swiss Banca Unione di Credito
(1919), and in 1920 it
joined the "Compagnia Finanziaria Nazionale" (1920);
it also established "Banca Italo-cinese", the "Banca Italo Viennese" and "Tiroler Hauptbank" (1920), and contributed to
the establishments of Banca Italo Egiziana (1924) and Banca Nazionale di Albania (1925).
As a result of the great depression, it went bankrupt and
was revitalized by Istituto per la Ricostruzione Industriale
(1933-45), becoming barred from acting strategically (only
short-term business allowed), as well as being excluded from the Borsa Italiana
(1935-1970).
It was part of the Mediobanca
(1946-) and, by successive mergers, became a part of Unicredito (1998).
Founded on April 28 1870 in Genoa
Genoa
Genoa |Ligurian]] Zena ; Latin and, archaically, English Genua) is a city and an important seaport in northern Italy, the capital of the Province of Genoa and of the region of Liguria....
as Banca di Genova, it took part in the establishment of Banco d'Italia (1871) and
opened the first trans-atlantic banking business with Buenos Aires
Buenos Aires
Buenos Aires is the capital and largest city of Argentina, and the second-largest metropolitan area in South America, after São Paulo. It is located on the western shore of the estuary of the Río de la Plata, on the southeastern coast of the South American continent...
(1872). Local shareholders were local nobility (Pallavicino and Balbi
Balbi
Balbi may refer to:* Mount BalbiPeople of the Acilii Balbi* Giovanni Babli , Italian lexicographer* Francisco Balbi di Correggio , Italian arquebusier...
), bankers (Quartara, Polleri) and merchants (Lagorio, Dodero, Bacigalupo), creating an initial capital of 3 million lira
Lira
Lira is the name of the monetary unit of a number of countries, as well as the former currency of Italy, Malta, San Marino and the Vatican City and Israel. The term originates from the value of a Troy pound of high purity silver. The libra was the basis of the monetary system of the Roman Empire...
.
It acquired "Banca Vonwiller" of Milan
Milan
Milan is the second-largest city in Italy and the capital city of the region of Lombardy and of the province of Milan. The city proper has a population of about 1.3 million, while its urban area, roughly coinciding with its administrative province and the bordering Province of Monza and Brianza ,...
, but a large national financial crisis led to refinancing
by German banks and name change to "Credito Italiano" (1895). Later, it acquired
"Banca Manzi" of Rome
Rome
Rome is the capital of Italy and the country's largest and most populated city and comune, with over 2.7 million residents in . The city is located in the central-western portion of the Italian Peninsula, on the Tiber River within the Lazio region of Italy.Rome's history spans two and a half...
(1901) and
"Banca Meuricoffre" of Napoli (1905).
Its headquarters moved to Piazza Cordusio in Milan, and, despite the Italo-Turkish War
Italo-Turkish War
The Italo-Turkish or Turco-Italian War was fought between the Ottoman Empire and the Kingdom of Italy from September 29, 1911 to October 18, 1912.As a result of this conflict, Italy was awarded the Ottoman provinces of Tripolitania, Fezzan, and...
and World War I
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
, it was able
to open branch offices in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
(1911) and New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
(1917), as well as in Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
and Berlin
Berlin
Berlin is the capital city of Germany and is one of the 16 states of Germany. With a population of 3.45 million people, Berlin is Germany's largest city. It is the second most populous city proper and the seventh most populous urban area in the European Union...
(1921).
Later it acquired the "Banca del Monferrato", "Banca di Legnano
Legnano
Legnano is an Italian town and comune with 59.147 inhabitants in the province of Milan, about from Milan.It's crossed by the river Olona, and it's the 13th town for inhabitants in Lombardy....
", "Credito Varesino
Varesino
Varesino or Bosin is a dialect of Western Lombard language spoken in the Central province of Varese. The Northern side speaks more Ticinese than Bosin...
and the Swiss Banca Unione di Credito
Banca Unione di Credito
Banca Unione di Credito is a full service bank based in Lugano, Switzerland, that specialises in private banking.-History:*1919 - Credito Italiano established Banca Unione di Credito in Switzerland....
(1919), and in 1920 it
joined the "Compagnia Finanziaria Nazionale" (1920);
it also established "Banca Italo-cinese", the "Banca Italo Viennese" and "Tiroler Hauptbank" (1920), and contributed to
the establishments of Banca Italo Egiziana (1924) and Banca Nazionale di Albania (1925).
As a result of the great depression, it went bankrupt and
was revitalized by Istituto per la Ricostruzione Industriale
Istituto per la Ricostruzione Industriale
The Istituto per la Ricostruzione Industriale was an Italian public company set up by the fascist government in 1933 to combat the effects of the global depression on the Italian economy...
(1933-45), becoming barred from acting strategically (only
short-term business allowed), as well as being excluded from the Borsa Italiana
Borsa Italiana
The Borsa Italiana S.p.A., based in Milan, is Italy's main stock exchange. It was privatised in 1997 and is a part of the London Stock Exchange Group plc since 2007. In 2005, the companies listed on the Borsa were worth US$890 billion...
(1935-1970).
It was part of the Mediobanca
Mediobanca
Mediobanca is an Italian investment bank founded in 1946 at the initiative of Raffaele Mattioli and Enrico Cuccia to facilitate the post-World War II reconstruction of Italian industry.Enrico Cuccia led Mediobanca from 1946 to 1982...
(1946-) and, by successive mergers, became a part of Unicredito (1998).