|Fate||merged with Banca Intesa|
|Alfonso Iozzo, CEO |
Enrico Salza, Chairman
|Revenue||EUR 9.726 bn (2004)|
Number of employees
|Website||Gruppo Sanpaolo IMI|
Sanpaolo IMI S.p.A. was an Italian banking and insurance conglomerate, based in Turin. It employed about 44,000 people and had about 7 million customers.
On August 24, 2006 a merger with Banca Intesa was announced, which on 1 December 2006 was approved by the joint meetings of the shareholders of Banca Intesa and Sanpaolo IMI. On 2 January 2007 the merger went into effect, thereby creating Intesa Sanpaolo, now the largest Italian bank and one of the largest in the Eurozone.
The new banking company based in Turin and is administered under the "two-tier model", with the presence of a Supervisory Board and a Board of Management. This was the first application of this model in a major Italian company.
In 2002, the group absorbed Cardine Banca, a short lived holding company that consist of Cassa di Risparmio in Bologna, Cassa di Risparmio di Padova e Rovigo, Cassa di Risparmio di Venezia, Cassa di Risparmio di Udine e Pordenone, Cassa di Risparmio di Gorizia and Banca Popolare dell'Adriatico.
Sanpaolo IMI had about 3,200 local offices where private, business and retail banking activities take place. It also managed savings and retirement funds.
Before the merger the following banks were the subsidiaries of the group:
Before the merger, on 31 December 2006 the shareholders were (ordinary and preference shares):
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