Credito Valtellinese: 100 Years of History serving the Area

Sopra, il direttore generale del Creval, Miro Fiordi, a destra, Palazzo Sertoli, sede della Direzione Generale del Credito Valtellinese (foto Ivan Bracelli) Above, Miro Fiordi, Creval general manager, right, Palazzo Sertoli, Credito Valtellinese headquarter

INFO Altre informazioni sul Credito Valtellinese e il programma dei festeggiamenti del centenario del 12 luglio sul sito www.creval.it Further informations on Credito Valtellinese and the 12th July centenary celebrations program on the website www.creval.it 114

On 12th July 2008, Sondrio will be hosting a series of celebrations for the centenary of Credito Valtellinese. It was 12th July 1908 in Sondrio when 60 Partners, inspired by the values of the Church’s social doctrine and the Enciclica Rerum Novarum of Pope Leone XIII, decided to promote saving and provide access to credit for the less well-off: and the Società Anonima Cooperativo a Capitale Illimitato named the ‘Banca Piccolo Credito Valtellinese’ came into being. Since then much has happened and the Bank has grown out of all recognition. In the 1980s Credito Valtellinese’s growth and the strategic choice to give the Banks the exclusive control of functions and the banking business sector and delegate specialist areas to Associate Companies, led to Credito Valtellinese’s transformation from a local bank to a Banking Group. In 1995 the Group was joined by Credito Artigiano; in 1998 by Banca Popolare Santa Venera founded in Acireale in 1908; in 1999 Cassa San Giacomo founded in 1896 in Caltagirone by Don Luigi Sturzo, and Banca dell’Artigianato e dell’Industria di Brescia. In 2001 Banca Regionale Sant’Angelo di Palermo and Leasingroup Sicilia joined the fold. In 2002 the Group underwent restructuring in Sicily via the setting-up of one sole Regional Bank with branches everywhere, which could play a leading role in the region’s economy: Credito Siciliano. In 2003 a strategic merger took place envisaging the acquisition of a qualified minority stake in Banca Popolare di Cividale. The same year saw the drawing-up of expansion plans in Veneto through Banca dell’Artigianato e dell’Industria. In 2005 a strategic alliance was formally agreed to between Credito Valtellinese and Banca della Ciocciara, and in 2007 with Gruppo Tercas. In 2008 it takes up a peripheral role in Gruppo il Credito Piemontese, born through Intesa San Paolo’s acquisition of 23 branches – in Turin and province (19) and Alexandria and province (4). The centenary celebrations, especially those on 12th July 2008, are an opportunity to stress that despite all the changes since that 12th July 1908 and the testimony borne by so many people, the underlying values of a people’s bank of Catholic inspiration are still the same: subsidiarity, solidarity, cooperation, local roots, a close relationship with its community and needs, customer care, acceptance of change and innovation, and backing for productive enterprise, families and non-profit trusts.

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