Formerly |
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Company type | Listed | ||||
BIT:
FBK FTSE MIB Component | |||||
Founded |
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Services | online brokerage |
FinecoBank S.p.A., known as FinecoBank or just Fineco is an Italian bank that specializes in online brokerage. [1] Launched in 1999 with its Fineco Online service for retail traders, [2] Fineco became a listed company in 2014 and has been independent from UniCredit banking group since 2019. [3]
FinecoBank is a constituent of FTSE MIB (since 2016), the blue chip index of the Borsa Italiana. [4] Since 2015 it has over a million customers in Italy, where its role has been compared to that of Schwab in USA. [2]
FinecoBank has been designated in 2021 as a Significant Institution under the criteria of European Banking Supervision, and as a consequence is directly supervised by the European Central Bank. [5]
The predecessor of Fineco was a financial institution known as GI-FIN S.r.l. in 1982 and then GI-FIN S.p.A. from October 1982. [6] In 1983, the institution was incorporated as Istituto per le Cessioni del Quinto S.p.A. (ICQ), [6] which later known as Novara ICQ S.p.A. [7]: 665 and then ICQ Banca Cisalpina S.p.A.. [6] [8] ICQ Banca Cisalpina was a subsidiary of Banca Popolare di Novara (BP Novara). [6] In 1990–91, BP Novara owned 51.21% shares of ICQ Banca Cisalpina. [7]: 665 [9]: 126 ICQ Banca Cisalpina was also a listed company, which was delisted in 1996 by its new owner Banca Popolare di Brescia (Bipop). [10] [11]
In 1999, Bipop merged with Cassa di Risparmio di Reggio Emilia (Carire) to form Bipop Carire. [6] As of 1990, Banca Popolare di Brescia also partially owned the namesakes Fin-Eco Leasing (33.33%) and Fin-Eco Factoring (30%). [9]: 125 As of 1994, Bipop owned the aforementioned companies via an intermediate holding company Fin-Eco Holding. [12] The Holding also owned another subsidiary Fin-Eco SIM. [12] Bipop also attempted to acquire another namesake Cisalpina Gestioni in 1994. [12]
After the 1999 merger, the banking group re-organized ICQ Banca Cisalpina as well as Fin-Eco Leasing and Fin-Eco Factoring. [13]
ICQ Banca Cisalpina was renamed to "Fin-Eco Banca ICQ S.p.A." (Banca Fin-Eco in short) in 1999, [6] which was considered as the launch date of the current Fineco. [14] [15] In 2002, Bipop Carire and Fineco became part of Capitalia banking group. [16] In 2007, Capitalia was absorbed into UniCredit banking group, while Fineco was kept as a separate subsidiary.
In 2014 FinecoBank started its initial public offering. [14] In 2016 UniCredit sold a further 30% shares to public market. [17] [18] [19] In May 2019, UniCredit sold another 17% shares of FinecoBank. [1] As UniCredit owned 18% shares of FinecoBank after the transaction, FinecoBank is no longer an associate company of UniCredit. [20]
In 2020, Fineco decided to spend 7 million euros on a marketing campaign to grow its services in UK, [21] whose launch was authorised earlier in the same year. [22]
FinecoBank Banca Fineco serves customers in the United Kingdom and Italy. [23]
UniCredit sold its remaining stake in FinecoBank in 2019. [24]
The company, founded in 1999,...
Formerly |
| ||||
---|---|---|---|---|---|
Company type | Listed | ||||
BIT:
FBK FTSE MIB Component | |||||
Founded |
| ||||
Services | online brokerage |
FinecoBank S.p.A., known as FinecoBank or just Fineco is an Italian bank that specializes in online brokerage. [1] Launched in 1999 with its Fineco Online service for retail traders, [2] Fineco became a listed company in 2014 and has been independent from UniCredit banking group since 2019. [3]
FinecoBank is a constituent of FTSE MIB (since 2016), the blue chip index of the Borsa Italiana. [4] Since 2015 it has over a million customers in Italy, where its role has been compared to that of Schwab in USA. [2]
FinecoBank has been designated in 2021 as a Significant Institution under the criteria of European Banking Supervision, and as a consequence is directly supervised by the European Central Bank. [5]
The predecessor of Fineco was a financial institution known as GI-FIN S.r.l. in 1982 and then GI-FIN S.p.A. from October 1982. [6] In 1983, the institution was incorporated as Istituto per le Cessioni del Quinto S.p.A. (ICQ), [6] which later known as Novara ICQ S.p.A. [7]: 665 and then ICQ Banca Cisalpina S.p.A.. [6] [8] ICQ Banca Cisalpina was a subsidiary of Banca Popolare di Novara (BP Novara). [6] In 1990–91, BP Novara owned 51.21% shares of ICQ Banca Cisalpina. [7]: 665 [9]: 126 ICQ Banca Cisalpina was also a listed company, which was delisted in 1996 by its new owner Banca Popolare di Brescia (Bipop). [10] [11]
In 1999, Bipop merged with Cassa di Risparmio di Reggio Emilia (Carire) to form Bipop Carire. [6] As of 1990, Banca Popolare di Brescia also partially owned the namesakes Fin-Eco Leasing (33.33%) and Fin-Eco Factoring (30%). [9]: 125 As of 1994, Bipop owned the aforementioned companies via an intermediate holding company Fin-Eco Holding. [12] The Holding also owned another subsidiary Fin-Eco SIM. [12] Bipop also attempted to acquire another namesake Cisalpina Gestioni in 1994. [12]
After the 1999 merger, the banking group re-organized ICQ Banca Cisalpina as well as Fin-Eco Leasing and Fin-Eco Factoring. [13]
ICQ Banca Cisalpina was renamed to "Fin-Eco Banca ICQ S.p.A." (Banca Fin-Eco in short) in 1999, [6] which was considered as the launch date of the current Fineco. [14] [15] In 2002, Bipop Carire and Fineco became part of Capitalia banking group. [16] In 2007, Capitalia was absorbed into UniCredit banking group, while Fineco was kept as a separate subsidiary.
In 2014 FinecoBank started its initial public offering. [14] In 2016 UniCredit sold a further 30% shares to public market. [17] [18] [19] In May 2019, UniCredit sold another 17% shares of FinecoBank. [1] As UniCredit owned 18% shares of FinecoBank after the transaction, FinecoBank is no longer an associate company of UniCredit. [20]
In 2020, Fineco decided to spend 7 million euros on a marketing campaign to grow its services in UK, [21] whose launch was authorised earlier in the same year. [22]
FinecoBank Banca Fineco serves customers in the United Kingdom and Italy. [23]
UniCredit sold its remaining stake in FinecoBank in 2019. [24]
The company, founded in 1999,...