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Italy

Entered market 1925

In 1925, Barclays Bank SAI, a subsidiary company of Barclays Bank Limited, was constituted under Italian law, and a branch opened in Rome. In the following year, 1926, a further branch was opened in Genoa, but was then closed eleven years later. Barclays Bank SAI was sold in 1950 to Banca Commerciale Italiana. A representative's office was opened in Milan in 1969, and in 1972, Banca Barclays Castellini SpA Milan was formed in conjunction with Banca Castellini and Co, Milan, of which Barclays International held a majority stake. Following this, in 1979, another representative's office of Barclays Group of Banks was opened in Milan at 36 via di Porta Pinciana, and Barclays Leasing International SpA was established. 1980 saw the formation of Barclays International Finanziaria SpA, a wholly-owned subsidiary formed by Barclays Bank International to undertake a merchant banking role, including underwriting, the provision of finance for acquisitions, and corporate advice. In the same year, Barclays Bank International also acquired the remaining shareholding in Banca Barclays Castellini SpA. By 1981, Barclays' operations in Italy compromised 16 offices and 350 staff, and represented 30% of the Bank's European profits. These operations were rationalised by the formation of Barclays Group Italia SRL Bargrit in 1983. In 1988, a new head office was established in Milan, and in 1991, the Woolwich Building Society also opened an office within the city. Barclaycard was then launched in Italy in 2002. Woolwich's subsidiary, Banca Woolwich merged with Barclays Bank PLC in 2004, whilst retaining their trading name. Following this, in 2007, Barclays Global Retail and Commercial Banking reorganised, with Barclays in Italy (along with Spain, Portugal and France) forming GRCB Western Europe, and it was announced that a further 50 branches would be opened. In 2007, Barclaycard and ABSA, in association with Cassa di Risparmio di San Minato, announced the launch of a co-branded credit card within Italy's regional savings bank sector. A flagship branch was opened in Milan in 2008 for Premier Banking customers, and in 2009 Barclays Italy was awarded the prestigious Guido Carli Award from Milano Finanza. In 2009, a joint life insurance venture between Barclays and CNP Assurances SA was announced in Italy, Spain and Portugal. In 2010, Barclays announced that it would be acquiring Citibank's Italian credit card business, and would integrate this into Barclays Italy. A partnership between Barclays and UniCredit was established in 2012, through the offering of a new bond. In 2014, Barclays announced that all of the European retail bank businesses were to be placed within a 'Barclays Non-Core.' In December 2015, Barclays announced that the Italian retail banking business was to be sold to CheBanca!  The corporate banking and investment banking businesses would continue.  All information is correct as of December 2015.

Italy