Banco di Roma

Not to be confused with Banca di Roma.
1939 advert showcasing the Banco di Roma's network in Africa and the Middle East

Banco di Roma was an Italian bank based in Rome, established on 9 March 1880. In the early 20th century, it was one of Italy's four dominant universal banks, together with Banca Commerciale Italiana, Credito Italiano, and Società Bancaria Italiana.[1]: 14  It developed a significant network throughout the Eastern Mediterranean and Italian Africa. In 1992 it eventually merged with the Banco di Santo Spirito and altered its name to Banca di Roma, later part of UniCredit.

Overview

Banco di Roma opened branches in Alexandria in 1905, Cairo and Malta in 1906, Tripoli and Benghazi in 1907, and Constantinople in 1911.[2]: 7–10  It expanded further in the Middle East, in Jerusalem before the end of World War I then in 1919 in Istanbul, Smyrna, Beirut, Aleppo, Tripoli, İskenderun, Mersin, Adana, Jaffa, and Haifa.[2]: 12  In 1920, it formed a new affiliate, Banco di Roma per l’Egitto ed il Levante, which took over the operations in Egypt, Palestine, Lebanon and Syria.[2]: 13  In 1924, the Egyptian business was spun off as Banco Italo-Egiziano, in which the Banca Nazionale di Credito and Credito Italiano took equity stakes.[2]: 14 

By 1926, Banco di Roma had 2,756 employees in Italy and 316 overseas, including 145 in Turkey, 77 in Syria and Lebanon, 40 in Palestine, 20 in Malta, 20 in Switzerland, 10 in London, and 2 in New York.[3]: 81  The bank further opened branches in Homs in 1928, Latakia in 1929, and Tel Aviv in 1931. It had to close all its branches in Palestine and Malta, however, with the entry into World War II in 1940.[2]: 15-17 

Like other European banks in the region, Banco di Roma was affected by the spread of Arab nationalism. In 1960, Banco Italo-Egiziano transferred its Egyptian business to the National Bank of Egypt. Syria nationalized the bank's operations on its territory in 1961 as Banque de l’Unité Arabe, as did Libya in 1970 as Umma Bank. By contrast, the Banco di Roma maintained a continuous presence in Turkey from its first establishment in 1911 to the market liberalization of the 1980s and beyond.[2]: 21-27, 49 

In 1991, the bank was merged with Banco di Santo Spirito and Cassa di Risparmio di Roma to form Banca di Roma,[4] a predecessor of Capitalia (which was acquired by UniCredit in 2007).

Banco di Roma also owned a reported 30% stake in a Belgian bank in 1989.[5] The Belgian subsidiary, Banco di Roma (Belgio) S.A., was acquired by Monte dei Paschi di Siena (MPS) in 1992.[6]

Banco di Roma also sold subsidiary Banco di Perugia to Banca Toscana, a subsidiary of MPS in 1990.[7][8][9]

References

  1. ^ Carlo Brambilla & Giandomenico Piluso (February 2008), Italian investment and merchant banking up to 1914: Hybridising international models and practices, Università degli Studi di Torino
  2. ^ a b c d e f Adrian E. Tschoegl (2004). "Financial Integration, Dis-integration and Emerging Re-integration in the Eastern Mediterranean, c. 1850 to the Present" (PDF). Financial Markets, Institutions & Instruments. 13 (5): 245–285. doi:10.1111/j.0963-8008.2004.00078.x. S2CID 154853310.
  3. ^ J. A. Consiglio (2001), Banco di Roma's Mediterranean Thrust 1900-1952 (PDF), Malta University Historical Society
  4. ^ Ministry of the Treasury (26 January 1991). "Approvazione del progetto di ristrutturazione della Cassa di risparmio di Roma" (in Italian). Italian Republic Official Gazette. Retrieved 16 February 2016.
  5. ^ R.M. Whiteside, ed. (1990). Major Financial Institutions of Continental Europe 1990/91. Graham & Trotman. p. 128. doi:10.1007/978-94-011-3022-6. ISBN 978-1-85333-471-9.
  6. ^ "RELATIVO ALL'OFFERTA IN OPZIONE E ALL'AMMISSIONE A QUOTAZIONE SUL MERCATO TELEMATICO AZIONARIO ORGANIZZATO E GESTITO DA BORSA ITALIANA S.p.A. DI AZIONI ORDINARIE DI BANCA MONTE DEI PASCHI DI SIENA S.p.A." (PDF). consob.
  7. ^ "TRE PRETENDENTI ITALIANI PER IL BANCO DI PERUGIA". La Repubblica (in Italian). 14 April 1990. Retrieved 22 December 2016.
  8. ^ "Gli azionisti sono convocati in assemblea ordinaria e straordinaria in Firenze". Banca Toscana (in Italian). Italian Republic Official Gazette. 27 May 1991. Retrieved 22 December 2016.
  9. ^ "Provvedimento N°107 (C123)Banca Toscana/Banco Perugia" (PDF) (in Italian). Autorità Garante della Concorrenza e del Mercato (AGCM). 3 July 1991. Archived from the original (PDF) on 23 December 2016. Retrieved 22 December 2016.
  10. ^ "Intervento del Presidente della Repubblica all'inaugurazione della nuova sede della Direzione Centrale del Banco di Roma". Portale storico della Presidenza della Repubblica. 23 April 1985.
  11. ^ "Property owners demand keys of Valletta police station". Timesofmalta.com. 1940-08-22. Retrieved 2020-01-28.


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