Banca Nazionale del Lavoro


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Banca Nazionale del Lavoro

 

(National Bank of Labor), an Italian commercial bank, one of the ten largest banks in the world.

Founded in 1913 as a private bank with a capital of 7.5 million lire, the Banca Nazionale del Lavoro was originally called the Instituto Nazionale di Credito per la Cooperazione (National Credit Institution of Cooperation). The bank was acquired by the government the same year it was founded, and its capital was greatly expanded. The bank received its present name in 1929.

The Banca Nazionale del Lavoro supplies short-term credit to the major branches of industry, as well as to other banks and to such institutions as insurance companies and stock exchanges. It also grants medium-term and long-term credits through seven independent, specialized divisions. The bank has close connections with the major privately owned monopolies of the country and is a major source of capital for the world market. The bank’s administrative offices are in Rome.

As of 1973, the Banca Nazionale del Lavoro had 232 branches in Italy; branches in New York, London, and Madrid; and foreign representation in Paris, Frankfurt am Main, Brussels, Montreal, Singapore, Tokyo, Kuala Lumpur, Sydney, and a number of Latin American countries. The bank also owns a subsidiary bank in Zürich, a holding company in Luxembourg, and finance companies in Tokyo and the Netherlands Antilles. The bank’s total balance as of Jan. 1, 1973, was 18, 200 billion lire. Of this sum, 218 billion lire represented reserves; 9, 615 billion lire was held as deposits; and 7, 844 billion lire was outstanding through discounting and loan operations.

K. A. SHTROM

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References in periodicals archive ?
In 1991, Gonzalez began to publicize allegations that the Bush Administration knew of the illegal loans extended to iraq by the Atlanta branch of the Banca Nazionale del Lavoro under the direction of the branch manager, Christopher Drogoul.
The French bank operates in Italy through its subsidiary, Banca Nazionale del Lavoro (BNL).
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Croff--former managing director of Banca Nazionale del Lavoro and a onetime Fiat exec--is considered a solid replacement for Franco Bernabe.
BRAZIL -56 BANCA NAZIONALE DEL LAVORO, ARGENTINA -58 BANKBOSTON, ARGENTINA -64 CITIBANK, ARGENTINA -70 LOANS (% CHANGE '01/'02) DEUTSCHE BANK, CHILE 394 I.
Asi, las ganancias de Banca Nazionale del Lavoro en 2002 se desplomaron 169,000%, sobre una declinacion del 58% en activos y del 79% en prestamos.
BT Broadcast Services, a division of British Telecommunications' BT Ignite business, has won a contract to provide the full range of its IP Satcast satellite services to Italy's Banca Nazionale del Lavoro (BNL).
In a narrowly cast report, Lacey stated that the charge that politics skewed the Justice Department's prosecution of the Atlanta branch of the Banca Nazionale del Lavoro did not warrant the attention of an independent counsel.
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Promoter Financial Intermediary : BNP PARIBAS LEASE GROUP SPA, BANCA NAZIONALE DEL LAVORO SPA
Companies Mentioned in this Report: Banca Nazionale del Lavoro (BNL), Deutsche Bank, Findomestic Bank

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