Credito Valtellinese

Credito Valtellinese
Native name
Credito Valtellinese S.p.A.
Formerly
  • Banca Piccolo Credito Valtellinese
  • Credito Valtellinese S.C.
Company typelisted società per azioni
  • BIT: CVAL
  • FTSE Italia Small Cap Component
ISINIT0005319444
IndustryFinancial services
Founded1908[1]
HeadquartersSondrio and Milan, Italy
Services
  • Retail & corporate banking
  • insurance agent & brokering
Increase €+113.2 million (2020)
Total assetsDecrease €23.882 billion (2020)
Total equityIncrease €1.774 billion (2020)
Owner
  • others
Number of employees
3521 (2020)
Subsidiaries
  • Credito Siciliano (98.54%)
  • Global Assicurazioni (60%)
  • Global Broker (51%)
  • Stelline Real Estate (100%)
Capital ratioIncrease 19.6% (CET1)
Websitewww.gruppocreval.com
Footnotes / references
in a consolidated basis[2]

Credito Valtellinese (known as Creval) was an Italian bank based in Sondrio (in Lombardy, Italy) prior to its acquisition by Crédit Agricole Italia in 2021. The company was a former component of FTSE Italia Mid Cap Index of the Borsa Italiana (Milan Stock Exchange), but was removed and added as a component of FTSE Italia Small Cap [it] Index in May 2017;[3] the bank was added back to the reserve list of FTSE Italia Mid Cap in August 2017.[4]

The bank was named after the area Valtellina. The bank had 363 branches in Northern Italy (as Credito Valtellinese),[5] 40 branches in Marche and Umbria (former Carifano), and 133 branches in Sicily (as Credito Siciliano).[5] Credito Siciliano had three more branches outside the island of Sicily.

It had a market share of 32% in Sondrio. However, only 2.9% in whole Lombardy region in terms of deposits, as of 30 June 2014, as well as only 1.7% in terms of branches as the 10th of Italy.[5]

Since 2021, it is part of Crédit Agricole Italia after a successful takeover bid by Crédit Agricole Italia. Crédit Agricole successfully concludes the tender offer, acquiring 91.17% of the shares in Creval, for a cost of 855 million. The delisting from the Italian Stock Exchange took place on Friday 4 June 2021 following the success of the residual takeover bid and the consequent "squeeze-out", which led Crédit Agricole to hold 100% of the capital of Creval.

  1. ^ "The Group" (in Italian). Credito Valtellinese. Archived from the original on 12 April 2015. Retrieved 10 April 2015.
  2. ^ "CONSOLIDATED RESULTS AS AT 31 DECEMBER 2020" (PDF). Credito Valtellinese. Retrieved 10 February 2021.
  3. ^ "FTSE Italia Index Series Quarterly Review" (Press release). FTSE Group. 31 May 2017. Archived from the original on 10 January 2018. Retrieved 9 January 2018.
  4. ^ "FTSE Italia Index Series Quarterly Review" (Press release). FTSE Group. 30 August 2017. Archived from the original on 10 January 2018. Retrieved 9 January 2018.
  5. ^ a b c "Archived copy" (PDF). Archived from the original (PDF) on 16 April 2015. Retrieved 10 April 2015.{{cite web}}: CS1 maint: archived copy as title (link)