Our history
1951
Incorporation of Compass with an initial capital of 100 million Lire, held in equal amounts by Mediobanca, Montecatini, Fiat and SniaViscosa.
1960
Beginning of consumer credit activity, with the introduction in Italy of the personal loan, offering families the funds to purchase durable and semi-durable goods, mainly electrical appliances for the home.
1961
Purchase of 100% of Compass shares by Mediobanca.
1970
Diversification of business into the leasing segment, with the incorporation of S.E.L.M.A.
1987
Incorporation of Cofactor, which manages the purchase without recourse of non-performing loans.
1989
Acquisition by the subsidiary S.E.L.M.A. of 100% of Palladio Leasing, a leasing company headquartered in Vicenza.
1991
Incorporation of Micos, a company specialising in the property mortgages sector. Purchase from Banca Popolare di Milano of the leasing business unit, merged with S.E.L.M.A. into SelmaBipiemme Leasing, in which BPM initially held 38.35% and Compass 61.65%.
1998
Launch of Compass’s own revolving credit cards, active on Visa and MasterCard circuits.
2000
Through SelmaBipiemme Leasing, purchase from Gruppo Telecom Italia of the majority of the capital of Teleleasing, a company operating principally in the leasing of telecommunication equipment.
2001
Purchase of 100% of the capital of Creditech, a company operating in the area of credit recovery on behalf of third parties.
2006
Start of operations in the area of salary-backed loans
2007
In December, acquisition of Linea S.p.A., a company operating in the area of consumer credit, from Banco Popolare and Banca Popolare di Vicenza.
2008
During the year, acquisition of 100% of the capital and incorporation of the company.
The subsidiaries Linea and Futuro, operating in the area of salary-backed loans, and the equal joint venture with Ducati, Ducati Financial Services, remained separate legal entities, in view of their respective specific strategic characteristics.
Extension of the activity of Micos Banca (wholly owned by Compass) – traditionally active in the area of property mortgages for families – into bank funding products, with the launch of a banking platform branded CheBanca!
2009
Incorporation of Compass Re S.A., a reinsurance company headquartered in Luxembourg.
2011
Compass becomes a payment institute for credit card management
2013
Compass becomes an ELMI (Electronic Money Institution)
2014
Merger of Cofactor and Creditech into a single company under the name of Creditech
2015
Compass becomes a bank on 1 October, under the company name of Compass Banca S.p.A.
2017
Inauguration, in June, of the new Compass Agency Network, a new distribution network aimed at financial agents and working alongside the network of direct branches.
2018
In May, launch of Compass’s full-digital web platform to apply for and pay Personal Loans online from a desktop PC or mobile device.