Associazione di Fondazioni e di Casse di Risparmio S.p.A.

Last updated

Associazione di Fondazioni e di Casse di Risparmio Spa (Association of Foundations and Savings Banks JSCs) is an Italian banking association. The members were the savings banks (Italian : casse di risparmio or singularcassa di risparmio) of Italy, or the foundation that originate from the reform trigger by Legge Amato.

Contents

History

The association was found in 1912 as Associazione fra le Casse di Risparmio Italiane (ACRI) (Association of Italian Savings Banks). Due to Legge Amato  [ it ], the savings banks became banking foundations and their respective "companies by shares" (Italian : Società per azioni ). After 25 years of merger and acquisitions, only 24 member banks (including banks with mount of piety origins) survived, with only eight of them were owned by their original banking foundations, plus Banca Carige that went fully publicly owned. The rest of the savings bank that survived from their establishments until 1991, became part of Intesa Sanpaolo, UniCredit, Banco BPM, UBI Banca, BPER Banca, Banca Popolare di Bari, Credito Valtellinese, Banca Carige, Banca di Asti, Crédit Agricole Italia and other banking group. Moreover, two more savings banks, Cariparma and Biverbanca were not members of ACRI.

The surviving banks were either independent banks (such as Banca Carige, Cassa di Risparmio di Ravenna, Südtiroler Sparkasse, etc.), subsidiaries (e.g. Banca CR Firenze and Carisbo) or minority owned by major banking group (e.g. Banca di Asti and Banca Cassa di Risparmio di Savigliano).

ACRI members (the foundations) also owned 18.4% stake collectively in Cassa Depositi e Prestiti. The members also involved in the investment fund F2i First and Second Fund.

In 2015 85 out of 86 member foundations of ACRI (except Fondazione Cassa di Risparmio di Fossano) had signed a memorandum of understanding with Ministry of Economy and Finance for the new regulation on the assets of the foundations. [1]

According to ACRI, the collective shareholders' equity of 87 out of 88 foundations were €41,243,344,914. (including non-member Roma and Pisa but data from Carige was missing) [1] However, the value of the assets were based on the historic price, such as the price of the shares of the bank.

In 2016 the foundations were invited to invest back to banking sector by joining the private equity fund Atlante that aiming to recapitalize the weak bank and purchase the securitizated non-performing loan. [2]

Members

Foundations

As of 29 September 2017 [3]

Banks

former members

Related Research Articles

<span class="mw-page-title-main">Banca Intesa</span>

Banca Intesa S.p.A. was an Italian banking group, formed in 1998 by merger of Cassa di Risparmio delle Provincie Lombarde (Cariplo) and Banco Ambrosiano Veneto. The next year, the banking group merged with Banca Commerciale Italiana to become IntesaBCi, but the name of the group was reverted to Banca Intesa in 2003.

Sanpaolo IMI S.p.A. was an Italian banking and insurance conglomerate, based in Turin. It employed about 44,000 people and had about 7 million customers.

<span class="mw-page-title-main">Intesa Sanpaolo</span> Italian banking group

Intesa Sanpaolo S.p.A. is an Italian international banking group. It is Italy's largest bank by total assets and the world's 27th largest. It was formed through the merger of Banca Intesa and Sanpaolo IMI in 2007, but has a corporate identity stretching back to its first foundation as Istituto Bancario San Paolo di Torino in 1583.

<span class="mw-page-title-main">Crédit Agricole Italia</span>

Crédit Agricole Italia S.p.A., formerly Crédit Agricole Cariparma S.p.A., is an Italian banking group, a subsidiary of French banking group Crédit Agricole. Crédit Agricole Italia was ranked as the 11th largest bank in Italy by total assets at 31 December 2015. The group serving Emilia-Romagna, Liguria and Friuli-Venezia Giulia, where the predecessors originated, as well as Campania, Lazio, Lombardy, Piedmont, Tuscany, Umbria and Veneto, or half of Italian regions.

BPER Banca S.p.A., formerly known as Banca Popolare dell'Emilia Romagna S.C., is an Italian banking group offering traditional banking services to individuals, corporate and public entities. The company is based in Modena and is a constituent of the FTSE MIB index.

Crédit Agricole Carispezia S.p.A. formerly known as Cassa di Risparmio della Spezia S.p.A., or Carispezia in short, is an Italian savings bank, which is part of Crédit Agricole Italia, the Italian arm of French banking group Crédit Agricole.

<span class="mw-page-title-main">Banca CR Firenze</span> Former Italian bank

Banca Cassa di Risparmio di Firenze S.p.A. known as Banca CR Firenze, was an Italian savings bank. Once a listed company, the group now part of Intesa Sanpaolo since 2007.

Cassa di Risparmio is the Italian word for savings bank, and may refer to:

<span class="mw-page-title-main">Cassa di Risparmio in Bologna</span> Former Italian bank

Cassa di Risparmio in Bologna S.p.A. known as Carisbo, was an Italian savings bank founded in 1837 and based in Bologna, Emilia-Romagna. It has been part of Intesa Sanpaolo Group since 2007.

Cassa di Risparmio di Venezia S.p.A. known as Carive or CR Venezia in short, is a former Italian savings bank, based in Venice, Veneto. It was a subsidiary of Intesa Sanpaolo. The former owner of the bank, Fondazione di Venezia, still acts as a charity organization.

Cassa di Risparmio di Cento S.p.A. is an Italian savings bank based in Cento, Emilia-Romagna, which serve the Province of Ferrara, Bologna and Modena.

Cassa di Risparmio di Jesi S.p.A. formerly Cassa di Risparmio di Jesi was an Italian savings bank based in Jesi, in the Province of Ancona, the Marche region. The bank had a successor [the] Fondazione Cassa di Risparmio di Jesi which still acted as a local charity organisation.

Cassa di Risparmio di Pistoia e della Lucchesia is an Italian regional bank based in Pistoia, Tuscany. The bank was a subsidiary of Banca CR Firenze, with Intesa Sanpaolo as the ultimate holding company.

Cassa di Risparmio di Vignola was an Italian saving bank based in Vignola, in the Province of Modena, Emilia–Romagna region. It was absorbed by Banca Popolare dell'Emilia Romagna in 2010.

Cassa di Risparmio di Fermo S.p.A. (Carifermo) is an Italian savings bank based in Fermo, Marche region.

Cassa di Risparmio del Friuli Venezia Giulia S.p.A., known as CariFVG in short, was an Italian savings bank based in Gorizia, Friuli – Venezia Giulia region.

The Fondazione Cassa di Risparmio di Parma e Monte di Credito su Pegno di Busseto, known as Fondazione Cariparma, is an Italian banking foundation and former bank that spin off its banking activities in 1991. The foundation currently is a minority shareholder of Crédit Agricole Cariparma.

Atlante is an Italian banking sector owned bail-out equity fund that is dedicated to recapitalize some Italian banks, as well as purchase the securities of the junior tranches of non-performing loans. It was established in 2015 in response to the Italian bad debt crisis of that year. The fund was under regulation by the EU Alternative Investment Fund Managers Directive.

Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona, also known by the shorthand Cariverona, was an Italian savings bank headquartered in Verona. It was formed in 1825 from a division of the Monte di Pietà di Verona, itself founded in 1490.

<span class="mw-page-title-main">Cassa di Risparmio della Marca Trivigiana</span> Italian savings bank

Cassa di Risparmio della Marca Trivigiana, also known as Cassamarca in short, was an Italian savings bank headquartered in Treviso, Veneto. The history of the bank goes back to 1496 when the charitable institution Monte di Pietà di Treviso was founded. The savings bank was established by the Monte in 1907, following a first bank spinoff in 1822 that ended up being absorbed in 1872 by the Cassa di Risparmio delle Provincie Lombarde.

References

  1. 1 2 "Ventesimo Rapporto Sulle Fondazioni Di Origine Bancaria 2014" (in Italian). ACRI. 28 September 2015. Retrieved 15 April 2016.
  2. ↑ "Italy's Atlas fund struggles to stop sky falling on banks". Reuters. 15 April 2016. Retrieved 15 April 2016.
  3. ↑ "Associate" [Members](PDF) (in Italian). Associazione di Fondazioni e di Casse di Risparmio S.p.A. 29 September 2017. Retrieved 15 November 2017.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.