UBI Banca SpA is reorganising its corporate ownership structure and as a consequence it is also making changes to its distribution network, transitioning from market coverage by means of seven network banks to direct management of business. This is to be achieved by merging these banks into a single bank organised on the basis of five macro-geographical areas.
This reorganisation constitutes a fundamental part of the business plan presented on 29th June 2016 and it was approved by an Extraordinary Shareholders’ Meeting held on 14th October 2016.
At the current date of the seven existing network banks in October 2014 have been merged into UBI Banca BRE and BPCI, on the 21st of November 2016;
The merger of BPB, BBS and BVC in UBI Banca will occur in the first quarter of 2017.
The merger of BPA and Carime in UBI Banca will occur in the second quarter of 2017.
Product companies operating in the financial and insurance sectors complete the range of products and services destined to Group customers, provided by the branch network, by advisors and agents and through digital channels.
The UBI Banca Group has also an International presence through foreign banks, foreign branches, representative offices and equity investments in foreign companies.