Predecessors The predecessor of Fineco was a financial institution known as
GI-FIN S.r.l. in 1982 and then
GI-FIN S.p.A. from October 1982. In 1983, the institution was incorporated as
Istituto per le Cessioni del Quinto S.p.A. (ICQ), and then
ICQ Banca Cisalpina S.p.A.. ICQ Banca Cisalpina was a subsidiary of
Banca Popolare di Novara (BP Novara). In 1999, Bipop merged with
Cassa di Risparmio di Reggio Emilia (Carire) to form
Bipop Carire. As of 1994, Bipop owned the aforementioned companies via an intermediate holding company Fin-Eco Holding. After the 1999 merger, the banking group re-organized ICQ Banca Cisalpina as well as Fin-Eco Leasing and Fin-Eco Factoring.
FinecoBank ICQ Banca Cisalpina was renamed to "Fin-Eco Banca ICQ S.p.A." (Banca Fin-Eco in short) in 1999, In 2002, Bipop Carire and Fineco became part of
Capitalia banking group. In 2007, Capitalia was absorbed into
UniCredit banking group, while Fineco was kept as a separate subsidiary. In 2014 FinecoBank started its
initial public offering. In 2016 UniCredit sold a further 30% shares to public market. In May 2019, UniCredit sold another 17% shares of FinecoBank. As UniCredit owned 18% shares of FinecoBank after the transaction, FinecoBank is no longer an
associate company of UniCredit. In 2020, Fineco decided to spend 7 million euros on a marketing campaign to grow its services in
UK, whose launch was authorised earlier in the same year. FinecoBank Banca Fineco serves customers in the United Kingdom and Italy. UniCredit sold its remaining stake in FinecoBank in 2019. ==Shareholders==