DoValue


doValue S.p.A. formerly doBank S.p.A. is an Italian financial service company based in Verona, Veneto region. The company, a former bank, was known as UniCredit Credit Management Bank until 2015. In 2015 the company was acquired by private equity funds of Fortress Investment Group. Soon after the company started their initial public offering; the bank became a component of FTSE Italia Mid Cap Index in August 2017.

History

Mediovenezie Banca

Istituto di Credito Fondiario delle Venezie was founded in 1949 as a bank that specializes in financing public works and public utility. In 1992 the bank was transformed from a statutory corporation to "company limited by shares" as Credito Fondiario delle Venezie S.p.A.. In 1995 the bank merged with Mediocredito delle Venezie and Federalcasse Banca to form Mediovenezie Banca. The bank was part of Cariverona Banca Group. In 1995 it became part of Unicredito Group, which in 1998 became part of UniCredito Italiano Group.

UniCredit Credit Management Bank

In 2000 the lending business of Mediovenezie was transferred to sister company, while the bank itself had transformed into UniCredito Gestione Crediti, a bank specializing in credit management.
In 2008 the bank was renamed into UniCredit Credit Management Bank which also managed the non-performing loans of former Capitalia Group. In 2011 UniCredit Credit Management absorbed Aspra Finance S.p.A..
At 31 December 2012 the book value of the company was valued as €3.3 billion. In 2013 UniCredit write-down €620 million for the value of UniCredit Credit Management, to €2.7 billion. In 2014 a further write-down of €1.5 million was made.

doBank

In 2015 UniCredit Credit Management, along with a portfolio of €2.4 billion gross book value of NPLs was sold to private equity fund of Fortress Investment Group and Prelios for an undisclosed amount. The NPLs assets of doBank was separately owned by Romeo SPV S.r.l. on 30 September 2016, which doBank owned 5% of the SPV, Eurocastle Investment owned 47.5% directly and the rest was owned by other shareholders.
In 2016 Italfondiario was acquired by doBank from Fortress.
In 2017 doBank became a listed company.

doValue

In June 2019 the company was renamed to doValue and withdrew its banking license.