Banca Nuova S.p.A. was an Italian bank headquartered in Palermo, Sicily island. The bank served the island (the region) mostly, with branches in the Calabria region; It was a subsidiary of Banca Popolare di Vicenza (BPVi), in turn owned by Atlante, a banking sector owned bail-out fund from 2016 to mid-2017. In June 2017 the bank was acquired by Intesa Sanpaolo by another government-funded bail-out, and a plan to absorb the bank was announced in October 2017.
History
The predecessors of the bank, [old] Banca Nuova S.p.A. and Banca del Popolo – Banca Popolare (Banca del Popolo S.p.A., located in Trapani), were formed/acquired by Banca Popolare di Vicenza (BPVi) of the northern Italy in 2000.[5] In July 2002 the [old] Banca Nuova was merged into Banca del Popolo,[1][6] which the legal person of Banca del Popolo was renamed to [newer] Banca Nuova S.p.A., relocating its headquarters from Trapani to Palermo.