Incorporation of Compass with an initial capital of 100 million Lire, held in equal amounts by Mediobanca, Montecatini, Fiat and SniaViscosa.
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.
Purchase of 100% of Compass shares by Mediobanca.
Diversification of business into the leasing segment, with the incorporation of S.E.L.M.A.
Incorporation of Cofactor, which manages the purchase without recourse of non-performing loans.
Acquisition by the subsidiary S.E.L.M.A. of 100% of Palladio Leasing, a leasing company headquartered in Vicenza.
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%.
Launch of Compass’s own revolving credit cards, active on Visa and MasterCard circuits.
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.
Purchase of 100% of the capital of Creditech, a company operating in the area of credit recovery on behalf of third parties.
Start of operations in the area of salary-backed loans
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.
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!
Incorporation of Compass Re S.A., a reinsurance company headquartered in Luxembourg.
Compass becomes a payment institute for credit card management
Compass becomes an ELMI (Electronic Money Institution)
Merger of Cofactor and Creditech into a single company under the name of Creditech
Compass becomes a bank on 1 October, under the company name of Compass Banca S.p.A.
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.
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.