# Interbanca
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{{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](/source/Milan), [Italy](/source/Italy)
| key_people =
| num_employees = {{decrease}} 202
| num_employees_year = 2016
| industry = [Financial services](/source/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](/source/1%2C000%2C000%2C000)
| assets_year = 2016
| equity = {{decrease}} €{{0}}868 million
| equity_year = 2016
| owner = [Banca IFIS](/source/Banca_IFIS)
| parent = [Banca IFIS](/source/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[{{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}}]
}}
'''Interbanca S.p.A.''' was an Italian [merchant bank](/source/merchant_bank) that specializes in lending and financing transactions for medium-sized firms. Its headquarters are in [Milan](/source/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](/source/Banco_Santander). In March 2008, the bank was purchased by [GE Commercial Finance](/source/GE_Commercial_Finance) and renamed to '''GE Capital Interbanca'''. It was sold to [Banca IFIS](/source/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](/source/Banco_Ambrosiano), [Banca d'America e d'Italia](/source/Banca_d'America_e_d'Italia), and [Banca Nazionale dell'Agricoltura](/source/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](/source/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](/source/ABN_AMRO) acquired Antonveneta, only to be itself acquired by a consortium consisting of [The Royal Bank of Scotland Group](/source/The_Royal_Bank_of_Scotland_Group), [Fortis](/source/Fortis_(finance)), and Santander. Banco Santander took control of Antonveneta in October 2007 and sold it on to [Banca Monte dei Paschi di Siena](/source/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.[{{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}}]
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](/source/Deutsche_Bank) to sell the Interbanca, then had a net assets of over {{Currency|1 billion|euro}}.[{{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}}]
In 2016 [Banca IFIS](/source/Banca_IFIS) acquired Interbanca for €160 million, with an obligation to repay the inter-company debt, totalling €2.1 billion, to GE.[{{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}}]
Interbanca was merged with the parent company Banca IFIS on 23 October 2017.[{{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}}][{{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}}]
==See also==
* [List of banks in Italy](/source/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
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Adapted from the Wikipedia article [Interbanca](https://en.wikipedia.org/wiki/Interbanca) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Interbanca?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.