Intesa sanpaolo

Intesa Sanpaolo is a banking group resulting from the merger between Banca Intesa and Sanpaolo IMI based in Turin, Italy. It has clear leadership in the Italian market and a minor but growing international presence focused on Central-Eastern Europe, the Middle East and North Africa (77% of the bank's revenue (96.3% from Europe) and 86% of all loans to customers come from business in Italy). When it was formed in 2007 it overtook Unicredit Group as the largest bank in Italy with 13 million customers and $690 billion worth of assets.[3] By 2010 its assets had grown to $877.66 billion 26th highest among all of the world's companies. In 2009 group acquisitions included a 30% interest in business info company MF Honyvem, and an increased stake in Alitalia up to 33.3% Even though the bank was rumoured to have been working with the government to keep Air France from acquiring a stake in Alitalia Air France eventually acquired 25%.