IWBank
Encyclopedia
IWBank S.p.A. is an Italian
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...

 online bank
Virtual bank
A direct bank is a bank without any branch network. It offers its financial services by:* Telephone banking* Online banking* Automated teller machines * Mail banking* Mobile banking...

 majority-owned by UBI Banca
UBI Banca
Unione di Banche Italiane S.c.p.A., branded as UBI Banca, is the fifth-largest banking group in Italy by both market capitalisation and number of branches. The firm is primarily a holding company for a number of Italian cooperative banks, although it also controls the publicly-traded online bank...

, operating in Italy, France, Luxembourg, Spain, Germany, Austria and the UK. The bank characterises its offer for economic convenience and high technological content, limiting offline operations to two offices in Milan.

History

The bank originated from @Imiweb Sim, that Imi Bank started in 1999 as a trading service for its customers. In 2001 it became a bank with the name of Imiweb Bank.
In 2003 Centrobanca (BPU Group investment bank) took over 80% of Imiweb Bank, changing the name in IWBank and achieving an even balance.
The management acquired a 29% stake in 2004 and the offer was extended.

Market Position

IWBank is an innovative banking institution, it focuses on a mostly young and active audience willing to sacrifice some traditional face-to-face and offline services for favourable economic conditions (low fees and high interest rates) and refined online brokerage services. It is leader in Italy for online trading (Kpmg, sep. 2004) and ranked third for stock brokerage (Assosim, 2005). It counts more than 50,000 customers (bank account owners).

External links

The source of this article is wikipedia, the free encyclopedia.  The text of this article is licensed under the GFDL.
 
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