{{Short description|Italian merchant bank}} {{more citations needed|date=February 2016}} {{Infobox company | name = Interbanca | former_name = GE Capital Interbanca | logo = | type = Subsidiary | foundation = 1961 | fate = absorbed by the parent company | defunct = 23 October 2017 | location = Milan, Italy | key_people = | num_employees = {{decrease}} 202 | num_employees_year = 2016 | industry = Financial services | services = {{ubl|corporate banking|leasing|factoring}} | revenue = | revenue_year = | operating_income = | income_year = | net_income = {{increase}} {{fontcolor|red|(€{{0|00}}57 million)}} | net_income_year = 2016 | assets = {{decrease}} €2.204 billion | assets_year = 2016 | equity = {{decrease}} €{{0}}868 million | equity_year = 2016 | owner = Banca IFIS | parent = Banca IFIS | subsid = {{aligned table|fullwidth=y|style=text-align: left; font-size: 100%;|IFIS Leasing|(100%)|IFIS Factoring|(100%)|IFIS Rental Services|(100%)}} | homepage = [http://www.bancaifisimpresa.it bancaifisimpresa.it] | ratio = {{increase}} 37.4% (CET1) | rating = | footnotes = in separate balance sheet<ref>{{cite web|url=http://www.bancaifis.it/bilanci-e-relazioni/interbanca-s-p-relazioni-bilancio-desercizio-2016/|title=2016 Relazioni e Bilancio|date=30 March 2017|access-date=1 April 2017|publisher=Banca IFIS|language=Italian}}</ref> }} '''Interbanca S.p.A.''' was an Italian merchant bank that specializes in lending and financing transactions for medium-sized firms. Its headquarters are in Milan and it has 10 branches in major cities throughout Italy.
Following a series of acquisitions in the Italian banking industry, Interbanca became a subsidiary of Banco Santander. In March 2008, the bank was purchased by GE Commercial Finance and renamed to '''GE Capital Interbanca'''. It was sold to Banca IFIS in November 2016, as part of a strategy by GE to reduce its financial services division. The bank is under Banca IFIS Impresa division of the group.
==History== A consortium of banks comprising Banco Ambrosiano, Banca d'America e d'Italia, and Banca Nazionale dell'Agricoltura, founded '''Interbanca – Banca per i Finanziamenti a Medio Termine''' in 1961. By 1997 it had come under the control of Banca Antonveneta, which in 1999 acquired Banca Nazionale dell'Agricoltura. In June 1999, its parent listed Interbanca on the stock exchange, but then in February 2003 wholly acquired it. {{citation needed|date=February 2016}}
In 2006, ABN AMRO acquired Antonveneta, only to be itself acquired by a consortium consisting of The Royal Bank of Scotland Group, Fortis, and Santander. Banco Santander took control of Antonveneta in October 2007 and sold it on to Banca Monte dei Paschi di Siena in November at a 36% premium over the valuation for the acquisition. Although Banco Santander had sold Antonveneta, it retained Interbanca for the time being.<ref>{{Cite web|url=http://www.gruppomps.it/en/media-and-news/press-releases/071108_santander-and-monte-dei-paschi-siena-agreement-on-antonveneta.html|title=Santander and Monte dei Paschi di Siena: agreement on Antonveneta|website=www.gruppomps.it|language=en|access-date=2019-07-06}}</ref>
In March 2008, Santander sold Interbanca to GE Commercial Finance, receiving in return GE Money businesses in Germany, Finland and Austria, and GE's Card and Auto Financing Businesses in the UK.{{citation needed|date=February 2016}}
In May 2015, GE appointed the Deutsche Bank to sell the Interbanca, then had a net assets of over {{Currency|1 billion|euro}}.<ref>{{cite news|last1=Barbaglia|first1=Pamela|title=General Electric hires Deutsche Bank to sell Italian lender Interbanca - sources|url=http://uk.reuters.com/article/uk-gecapital-interbanca-idUKKBN0OD2N120150528|archive-url=https://web.archive.org/web/20151227154702/http://uk.reuters.com/article/uk-gecapital-interbanca-idUKKBN0OD2N120150528|url-status=dead|archive-date=December 27, 2015|accessdate=26 December 2015|agency=Reuters|date=28 May 2015}}</ref>
In 2016 Banca IFIS acquired Interbanca for €160 million, with an obligation to repay the inter-company debt, totalling €2.1 billion, to GE.<ref>{{cite press release|title=Banca IFIS, finalized today the acquisition of GE Capital Interbanca|url=http://www.bancaifis.it/en/press-releases/banca-ifis-finalized-today-the-acquisition-of-ge-capital-interbanca/|publisher=Banca IFIS|accessdate=28 December 2016|date=30 November 2016}}</ref>
Interbanca was merged with the parent company Banca IFIS on 23 October 2017.<ref>{{Cite press release|url=https://www.bancaifis.it/en/price-sensitive-press-releases/banca-ifis-deed-of-merger-of-interbanca-into-banca-ifis-signed/|title=Banca IFIS, deed of merger of Interbanca into Banca IFIS signed|publisher=Banca IFIS|date=3 October 2017|access-date=28 November 2017}}</ref><ref>{{cite news|url=https://www.reuters.com/article/idUSL8N1MF0RI|title=BRIEF-Banca IFIS: deed of merger of Interbanca into Banca IFIS signed|date=4 October 2017|access-date=28 November 2017|agency=Reuters}}</ref>
==See also== * List of banks in Italy
== References == {{Reflist}}
==External links== * {{official website|http://www.bancaifisimpresa.it}}
Category:Defunct banks of Italy Category:Banks established in 1961 Category:Italian companies established in 1961 Category:Companies formerly listed on the Borsa Italiana Category:Banks disestablished in 2017 Category:Italian companies disestablished in 2017