Hypo Alpe-Adria-Bank (Italy)

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Hypo Alpe-Adria-Bank
Native name
Hypo Alpe-Adria-Bank S.p.A.
Società per Azioni
Founded
  • 1986
  • 1988 (became subsidiary)
  • 2014 (spin off)
Headquarters 55 via Marinoni, Udine, Italy[1]
Number of locations
26 branches (2014[1])
Decrease (€280,725,508) (2014[1])
Total assets Decrease €2,188,318,185 (2014[1])
Total equity Decrease €10.799 million (2014[1])
Owner Austria
Parent HBI-Bundesholding A.G.[1]
Website Official website

Hypo Alpe-Adria-Bank S.p.A. also known as HBI is an Italian bank based in Tavagnacco, in the Province of Udine, Friuli – Venezia Giulia region. The registered office of the bank was located in Udine. In the past the bank was a subsidiary of Hypo Alpe-Adria-Bank International. However, in 2014 the subsidiary was spin-off from the bad bank. As at 31 December 2014, he bank was a subsidiary HBI-Bundesholding A.G., a Vienna-based sub-holding company for the government of Austria.

According to the 2013 plan, the bank would be wind-down.

The bank had 26 branches in Italy: Veneto (10), Lombardy (9), Friuli – Venezia Giulia (6) and Emilia–Romagna (1). The Italian leasing department was remained in the bad bank, now known as Heta Asset Resolution Italia S.r.l., a subsidiary of Heta Asset Resolution.

History

The bank was found in 1986 as Finservice S.r.l., a company provides finance lease. In 1988 it was purchased by Landes und Hypothekenbank. The bank was renamed into Hyposervice S.r.l. and became Società per Azioni in 1990. In 1998 the company became a bank.[1] The parent company was nationalized in 2009. In March 2014 the Italian subsidiary was spin off from the bad bank expect the leasing department. The entire board of directors except the independent director were replaced. Former president Johannes Leopold Proksch, vice-president Rainer Sichert, director Lorenzo Snaidero and Stephan Holzer were all fined by Banca d'Italia.[2] Italian Guardia di Finanza also started an investigation on the former leasing department on possible overcharging interests from the borrower in October 2014.[3]

As at 31 December 2014, the Common Equity Tier 1 ratio was once fall to 0.58%, much lower than Basel III requirement of 4.5%.

In 2016, the bank also made a open invitation to submit expression of interest to acquire the branches and performing mortgage portfolio.[4]

References

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  4. Sales of performing mortgage portfolio and branches

External links

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