Veneto Banca

Founded in 1877 in Montebelluna, Italy, Veneto Banca S.p.A. was a major cooperative bank (banca popolare) that grew significantly through the 20th and early 21st centuries, acquiring numerous smaller banks. It provided comprehensive banking services to individuals, families, and businesses, primarily in the Veneto region and across Italy. In June 2017, following a severe financial crisis driven by a large portfolio of non-performing loans and governance issues, the European Central Bank declared Veneto Banca "failing or likely to fail." The Italian state subsequently initiated a "compulsory administrative liquidation" (Liquidazione Coatta Amministrativa). As part of this process, the bank's "good" assets, including its branches, employees, and customer relationships, were sold to Intesa Sanpaolo for a symbolic sum. The original entity, Veneto Banca S.p.A. in L.C.A., remains active solely to manage and wind down the "bad bank" assets, including non-performing loans and outstanding legal liabilities.