Banca Unione di Credito

History

• 1919 Credito Italiano established Banca Unione di Credito in Switzerland.
• 1947 The Fiat Group acquired the entire share capital to make BUC its house bank.
• 1984 BUC established a subsidiary in Zurich.
• 1990 BUC established a representative office in Argentina.
• 1991 BUC established a subsidiary in Geneva.
• 1993 BUC acquired Overland Bank, also based in Lugano, and doubled in size.
• 1994 BUC established a subsidiary, Banca Unione di Credito, Grand Cayman.
• 1995 BUC held about 8% of a stockbroker and fund management bank in Turin, Banca Patrimoni e Investimenti, which is the result of the merger of Gestnord Intermediazione SIM and Sella Investimenti Banca.
• 2002 BUC acquired a 26% stake in Lombard Bank Malta plc, Valletta, the third largest bank in Malta, to become Lombard’s largest shareholder.
• 2006 Banca della Svizzera Italiana acquired Banca Unione di Credito. BSI is also based in Lugano and is a subsidiary of the Italian insurer Assicurazioni Generali. Fiat sold BUC both to raise capital and to focus on its core automotive business.