Banca Popolare di Luino e di Varese

Banca Popolare di Luino e di Varese (BPLV), colloquially known as La Luino, was an Italian cooperative bank founded on 7 February 1885 in Luino, on the shores of Lake Maggiore. It was established by a group of Italian and Swiss entrepreneurs and professionals, mostly active in the textile sector, and set up its headquarters in the noble Palazzo Crivelli on the Lungolago Dante Alighieri. For its first fifty years the bank limited its activities to Luino and its immediate surroundings. In 1941 it opened its first branch in Varese, and in 1955 it changed its name to Banca Popolare di Luino e di Varese. During the 1960s it expanded further, opening an office in Milan, but the bank was undercapitalized and, amid a regional recession, ran into difficulties. A turnaround was achieved with the co-option of Giovanni Valcavi to the board, working with president Franco Aletti and his successors Maurizio Belloni, Gianni Petrolo and Gaetano Cortesi. Under Cortesi's presidency the bank's management was moved to Varese, to the historic branch in Piazza Battistero, and the institute was listed on the restricted market of the Milan Stock Exchange. In 1988 Valcavi became president, holding the office until 1996, when Banca Popolare Commercio e Industria (BPCI) successfully launched a public takeover bid. BPLV then changed its legal form from a cooperative society (SCRL) to a joint-stock company (SPA) and was integrated into the BPCI banking group while retaining a degree of autonomy. By 2000 the bank had 50 branches and 620 employees. Its existence as a separate entity formally ended on 24 June 2003, when the parent company incorporated it and then merged with Banca Popolare di Bergamo-Credito Varesino to create BPU Banca. The BPLV brand nevertheless survived on branches until 2007, when, following the further merger of BPU with Banca Lombarda e Piemontese to form UBI Banca, it was replaced by the BPCI brand.

Banca Popolare di Luino e di Varese (BPLV) was founded on 7 February 1885 in Luino, a town on the eastern shore of Lake Maggiore, by a group of Italian and Swiss entrepreneurs and professionals, mostly active in the textile sector. The bank established its headquarters in the noble Palazzo Crivelli, rebuilt in 1773 to a design by Felice Soave, on the Lungolago Dante Alighieri. For its first fifty years of existence, the bank limited its activities to its hometown and the immediate surroundings on the coast of Lake Maggiore. In 1941 it opened its first branch in Varese, and in 1955 it changed its name to Banca Popolare di Luino e di Varese. During the 1960s the bank pursued a further expansion policy, opening an office in Milan. However, the bank was undercapitalized and, combined with a recession in the regional economy, it ran into difficulties. To carry out a recovery, Giovanni Valcavi was co-opted onto the board of directors. Cooperating with president Franco Aletti and with his successors Maurizio Belloni, Gianni Petrolo and Gaetano Cortesi, Valcavi succeeded in the task, allowing the institute to strengthen its presence in north-western Lombardy, towards the Milan area, the Como area and Brianza. Under Cortesi's presidency, the bank's management was also transferred to Varese, to the historic branch in Piazza Battistero. At the same time, the institute was listed on the restricted market of the Milan Stock Exchange. In 1988 the presidency went to Valcavi himself, who held it until 1996, when Banca Popolare Commercio e Industria successfully launched a public takeover bid for BPLV. The bank then changed its legal form from a cooperative society (SCRL) to a joint-stock company (SPA) and was integrated into the relevant banking group, while maintaining a certain degree of autonomy. By 2000, Banca Popolare di Luino e di Varese had 50 branches and employed 620 people. The history of the credit institution as a separate entity formally ended on 24 June 2003, when the parent company incorporated it and then merged with Banca Popolare di Bergamo-Credito Varesino to give rise to BPU Banca. The BPLV brand nevertheless survived on branches until 2007, when, following the further merger of BPU with Banca Lombarda e Piemontese (which gave rise to UBI Banca), it was replaced by that of BPCI.

• 2007

  BPLV brand replaced by BPCI brand after BPU merged with Banca Lombarda e Piemontese to form UBI Banca.

• 2003

  On 24 June, parent company incorporated BPLV, which then merged with Banca Popolare di Bergamo-Credito Varesino to form BPU Banca.

• 2000

  Bank had 50 branches and 620 employees.

• 1996

  Banca Popolare Commercio e Industria launched a successful public takeover bid; BPLV changed from SCRL to SPA and joined the BPCI group.

• 1988

  Giovanni Valcavi became president, holding office until 1996.

• 1960

  Opened an office in Milan as part of expansion.

• 1955

  Changed name to Banca Popolare di Luino e di Varese.

• 1941

  Opened first branch in Varese.

• 1885

  Founded on 7 February in Luino by Italian and Swiss entrepreneurs and professionals.

Local cooperative bank serving communities in the Lake Maggiore area and later north-western Lombardy.

Product categories. Retail banking · Savings accounts · Loans · Mortgages · Cooperative banking services

1. 1Banca Popolare di Luino e di Varese - Wikipediait.wikipedia.org
2. 2Banca Popolare di Luino e di Varese - Wikidatawikidata.org
3. 3Banca Intesa Sanpaolo - Conto Corrente per Famiglie, Giovani e Aziendeintesasanpaolo.com