The Banca Lombarda Group was formed on 31st December 1998 from the merger of CAB, Credito Agrario Bresciano and Banca San Paolo, two banks with a long history of operating in the Brescia area.
The two banks had grown over the years: CAB acquired Banca di San Giorgio in 1992 and the Banca Lombarda, known as the "Big Lombard" (from which the banking Group takes its name) and Banca del Cimino 1995, while Banca San Paolo of Brescia acquired Banca di Valle Camonica in 1963.
The banking business of the Banca Lombarda Group was transferred in January 1999 to a newly formed bank named Banco di Brescia.
The Banca Lombarda Group grew even larger in 2000 with the entrance of another part of Italian banking history, the Banca Regionale Europea, which traces its origins to Cassa di Risparmio di Cuneo and Banca del Monte di Lombardia, a bank that resulted from a merger between Banca del Monte di Milano and Banca del Monte di Pavia e Bergamo, founded in 1483 and 1493 respectively.
In 2000 the Banca Lombarda Group acquired control of Cassa di Risparmio di Tortona, which enabled it to increase its presence in Piedmont considerably.
The Group took the name of Banca Lombarda e Piemontese Group in 2000.