Banca Promos

Our History

• 1980

  Ugo Malasomma founds Banca Promos on 16 October as a Naples-based brokerage house for trading in Italian stocks and bonds.

• 1987

  Marking the beginning of the banking sector's progressive opening up to international markets, 1987 is a landmark year for the Italian financial community.

  Currency deregulation gives Italian investors access to international markets. Promos quickly takes advantage of the liberalisation, thus enhancing its expertise in Eurobonds and highly promising emerging markets in particular.

• 1991

  Following approval of the so-called "SIM Law" (Law 1 of 2nd January 1991), Promos once again quickly seizes the opportunities presented by the change in the regulatory framework, transforming the company into a securities broker. By registering with CONSOB, Promos can start operating as a securities house.

• 1993

  Promos SIM SpA grows and consolidates to become one of Italy's leading stockbrokers. During this period the Company focuses on capital market operations, serving institutional investors from all over the world.

  The Company's international orientation becomes more and more visible as demonstrated by its membership in 1993 of ICMA - International Capital Markets Association (former ISMA), and ASSIOM - Associazione Italiana Operatori Mercati dei Capitali, the two prime sector associations for major worldwide operators.

• 1995

  The Kuala Lumpur, Malaysia representative office is opened in 1995 to serve Far Eastern markets at a time when there were very few western operators located in that part of Asia.

• 1998

  Promos joins the Italian Bankers' Association ABI - Associazione Bancaria Italiana.

• 1999

  Banca Promos receives the authorization to operate in the United Kingdom, one of the most important financial markets. This is a year for great achievements, as also Promos Finance is established.

• 2002

  Promos commences its transformation into a bank, which became desirable for a number of reasons associated with the general environment and the specific nature of the Company's position.

  On one hand, new legislation results in the merger of brokerage houses with banks and the conversion of brokerage houses into banks with Bank of Italy approval. On the other hand, the status of Promos as a broker has become too restrictive, meaning that a qualitative change has become necessary. This is partly because the OTC market, in which Promos is primarily active, consists predominantly of large international banks.

• 2004

  The Bank of Italy issues a banking license. Banca Promos continues to provide financial services, an area where the company has accomplished a considerable know-how.

• 2007

  Promos implements its new business strategy: in January 2007 the first retail branch is opened in Naples.

• 2008

  The Salerno Branch, located in the heart of the city in Via Pietro da Eboli, with 300 square metres of floor space, opens in April, according to the Company's strategy of strengthening its presence in the Campania region.

• 2010

  The Company celebrates its 30th anniversary with two major changes: new head office premises and a new branch in Naples.