History of Banco di Sardegna

In 1944 Banco di Sardegna di Cagliari was founded, initially only with an “Industrial Credit” section.

In 1953, following the merger of ICAS (Istituto di Credito Agrario per la Sardegna) and Banco di Sardegna di Cagliari, Banco di Sardegna was created, a government-owned bank, with registered office in Cagliari and administrative headquarters and General Management in Sassari.

In 1970 an Autonomous Fund was established, to finance public works and utilities plants; in 1982, the new Articles of Association were then approved, with the establishment of a Special Fund for "Agricultural Credit". Two separate accounting sections were also created, for credit to tradesmen and loans supporting emigration.

In 1992 an important phase of change began for the Bank, with the approval of a plan (pursuant to the "Amato" Law) for institutional, organizational and operational changes, with the resulting transformation of the Bank into a joint stock company.

Two separate entities were set up: the new "Banco di Sardegna S.p.A." which, in addition to banking operations, also incorporates the three pre-existing Special Medium/Long-Term Credit Sections (Agricultural, Property, Financing of Public Works) and "Fondazione Banco di Sardegna", in which the previous government-owned bank ideally continued its operations.

In 1992 the Bank also took part in the turnaround of Banca Popolare di Sassari, taking over the majority shareholding and changing its name to Banca di Sassari S.p.A.

In 2001 the acquisition of the majority stakes in Banco di Sardegna and, indirectly, in the various companies in its Group by Banca Popolare dell'Emilia Romagna was finalized, and thus Banco di Sardegna became a sub-holding.