Banca Popolare di Milano

Banca Popolare di Milano, also known as Pop Milano, is an Italian cooperative bank and a member of Euro Banking Association. The Milan headquartered bank operates a network of 702 branches, located mainly in the wealthy northern regions of Lombardia and Lazio, as well as in central (Rome) and southern Italy. The bank employs around 8,900 people and has about 1.4 million customers. With total assets of Ä45.04 billion as of 2008, Banca Popolare di Milano is one of Italyís largest banks. Fiorenzo Dalu is the bankís current Managing director, and Massimo Ponzellini is Chairman of the Board. Banca Popolare di Milano is listed on the Milan Stock Exchange under the symbol PMII.

Banca Popolare di Milano, the second Italian cooperative bank was incorporated in Milan in 1865. Its founder and first President was Luigi Luzzatti, a renowned Italian economist who later became the nationís Prime Minister. From its incorporation till the World War II, the bank operated solely as a local bank. During the postwar period, the bank contributed to the reconstruction and economic recovery of the region by encouraging, in particular, the creation of small and medium enterprises.

Since the early 1950ís until present, the bank has enlarged its presence across the peninsula considerably. This enlargement is achieved by mergers and acquisitions with other banking institutions: Banca Popolare di Roma, Cooperativa Vogherese, Ina Bank, Banca Briantea, and Banca Popolare, among others. As a result of its extensive acquisition policy, Banca Popolare di Milano has many subsidiaries throughout Italy, as well as subsidiaries with branches in London and New York.

Despite its significant development, Banca Popolare di Milano has preserved its identity, strengthening the traditional support for its customers.

The bank's principal activities comprise of retail, corporate and investment banking. The institution offers a wide range of banking services and products tailored to the customersí needs i.e. current deposit accounts, money remittance, credit and debit cards, loans, mortgages, insurances, asset and wealth management, corporate and investment banking, internet banking, etc. Customers have access to the above services and products through traditional distribution networka, and via Internet or phone.

In addition to its activities, Banca Popolare di Milano operates a virtual bank (Webank) and commercial banks: namely, Banca di Legnano and Cassa di Risparmo di Alessandria.

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