Carilo | |||||
Type | subsidiary | ||||
Industry | Financial services | ||||
Founded | 1861 | ||||
Defunct | 23 October 2017 | ||||
Fate | became UBI Banca branches | ||||
Headquarters | Loreto , Italy | ||||
Number of locations | ![]() | ||||
Area served | Marche region | ||||
Key people | Costantino Vitali (Chairman) | ||||
Services | Retail banking | ||||
![]() | |||||
Total assets | ![]() | ||||
Total equity | ![]() | ||||
Owner |
| ||||
Parent |
| ||||
Capital ratio | ![]() | ||||
Website | carilo.it | ||||
Footnotes /references source [1] |
Cassa di Risparmio di Loreto S.p.A. also known as Carilo was an Italian savings bank based in Loreto, in the Province of Ancona. It was one of the 7 saving banks in Marche region in 1990s. 3 out of 7 saving banks were predecessors of Banca delle Marche banking group, which acquired Carilo in 1997; In January 2017 [New] Banca delle Marche banking group was acquired by UBI Banca, after [old] Banca Marche was nationalized in November 2015.
Monte di Risparmio della Città di Loreto was founded in 1861 in unified Italy. It was renamed to Cassa di Risparmio di Loreto in the next year. in 1927 the bank absorbed "Cassa di Prestiti e Risparmio di Castelfidardo". [2] Due to "Amato" Law, the banking activities was incorporated as a Società per azioni, while the original banking organization was renamed to the Ente Cassa di Risparmio di Loreto (later renamed to the Fondazione Cassa di Risparmio di Loreto; Carilo Foundation) The ente owned 71.43% shares of the S.p.A. [3] In 1997 Banca delle Marche became the parent company of the banking S.p.A. for 78.81% shares, with the rest were held by the banking foundation of Carilo. The move made Banca delle Marche one of the largest banking group in the region, which owned 4 out of 7 saving banks of Marche. (the remain 3 saving banks were C.R. Fabriano e Cupramontana and C.R. Ascoli (acquired by nationwide banking group and defunct in 2000s) and C.R. Fermo)
In 1996, in terms of market share in deposits in the Province of Ancona, Carilo had a market share of 4.8%, and the pro forma market share of Banca Marche banking group was 32.3%, ahead competitors Banca Popolare di Bergamo (mainly via subsidiary Banca Popolare di Ancona, predecessor of UBI Banca), Unicredito (mainly via subsidiary Cariverona, predecessor of UniCredit), Banca di Roma (predecessor of Capitalia; acquired by UniCredit in 2007), Cassa di Risparmio di Fabriano e Cupramontana (acquired by Veneto Banca) which had a market share of 13%, 11%, 9.8% and 9.6% respectively. [4]
Followed by the special administration (Italian : amministrazione straordinaria, A.S.) of Banca delle Marche by the Italian State in 2013, on 17 April 2014 Carilo was also under administration (by the decree of Ministry of Economy and Finance but the Bank of Italy was the actual administrator); On 31 December 2013, Carilo had a CET1 Capital Ratio of just 5.1287%, as well as a shareholders' equity of about €32.6 million.
After Banca delle Marche was nationalized by Italian National Resolution Fund in November 2015, a fund that was mandatory contributed by the banking industry, Carilo was recapitalized for €32.5 million. Also due to decrease in risk-weight assets of the bank, Carilo returned to financial health that had a CET1 Ratio of 9.1127% on 31 December 2015. Due to diversified investment of the banking foundation, the dilution of its shares in the bank to 5.35%, had a minimal impact to the balance sheet of the foundation. The foundation had an equity of €28.5 million. [5]
In January 2017, UBI Banca signed a contract to buy Nuova Banca delle Marche banking group as well as two banks that were also rescued by Italian National Resolution Fund, for a nominal fee of €1. Before the closing the deal, Bank of Italy as the administrator, would also make a further balance sheet cleanup and re-capitalized the banks. UBI Banca's subsidiary Banca Popolare di Ancona was also based in the Province of Ancona which Carilo was located, the deal got the approval from the trade union despite a concern of overlapping of banking network. The Italian Competition Authority also found out that, in the Province of Ancona, which Carilo was located, the pro-forma market share of the post-merger banking group (based on 2015 data), was over 40%. [6]
On 28 March 2017, another capital increase of about €19 million was announced. [7] On 10 May, the acquisition by UBI Banca was completed. On the same day a plan to absorb parent company Banca Marche and Cassa di Risparmio di Loreto into UBI Banca was also announced. [8]
The merger was completed on 23 October 2017, which the minority shareholders of Carilo was offered 0.635 shares of UBI Banca to 1 share of Carilo, on a valuation of €1.4 per share of Carilo. [9] [10] [11]
Unicredito was an Italian holding company, formed by the owner of banks: the banking foundations of Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona and Cassa di Risparmio della Marca Trivigiana (Cassamarca), in a ratio of 83.5% versus 16.5%. In 1997 the banking foundation of Cassa di Risparmio di Torino joined the group. The group merged with Credito Italiano to form Unicredito Italiano in 1998.
Unione di Banche Italiane S.p.A., commonly known for its trading name UBI Banca, is an Italian banking group, the fifth largest in Italy by number of branches. It was formed on 1 April 2007 from the merger of the Banche Popolari Unite and Banca Lombarda e Piemontese banking groups.
Crédit Agricole FriulAdria S.p.A. formerly known as Banca Popolare FriulAdria S.p.A., or known as FriulAdria in short, is an Italian bank, which is part of Crédit Agricole Italia, the Italian arm of French banking group Crédit Agricole.
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.
Banca Adriatica S.p.A. trading as UBI Banca Adriatica and formerly known as Nuova Banca delle Marche S.p.A. was an Italian bank based in Jesi, Marche region. It has operations in several regions in central Italy, but concentrated in Marche region, which 73% of the branches were located in that region as of 2016. The bank was formed on 22 November 2015 by the spin off of the good assets of the original Banca delle Marche S.p.A..
Cassa di Risparmio is the Italian word for savings bank, and may refer to:
Nuova Cassa di Risparmio di Ferrara S.p.A. known as Nuova Carife [New Carife] in short, was an Italian bank, based in Ferrara, Emilia-Romagna. Nuova Carife was founded on 22 November 2015 as a good bank that spin off from the original Cassa di Risparmio di Ferrara S.p.A. (Carife). The old Carife was under administration from 2013 and 2015, and now being liquidated as a bad bank. Nevertheless, Nuova Carife was a short-lived bank, which was acquired by BPER Banca in 2017 from Italian Resolution Fund, becoming branches of the banking group in the same year. The former majority shareholder and the old legal person of the bank, Fondazione Cassa di Risparmio di Ferrara survived as a charity organization.
Cassa di Risparmio di Jesi S.p.A. formerly Cassa di Risparmio di Jesi was an Italian savings bank based in Iesi, 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.
Banca Caripe S.p.A. was an Italian saving bank based in Pescara, Abruzzo Region. There were 13 branches of the bank outside the Province of Pescara in Abruzzo and Marche regions, out of 48 total. In 2016 the bank was absorbed by the parent company Banca Popolare di Bari, but retaining as brand.
Banca Teatina S.p.A. formerly known as Nuova Cassa di Risparmio di Chieti S.p.A. was an Italian savings bank headquartered in Chieti Scalo, Chieti, Abruzzo region. The bank was formed on 22 November 2015 to replace the old Cassa di Risparmio della Provincia di Chieti S.p.A. which was under special administration from 2014 to 2015. The bank was bought by UBI Banca on 18 January 2017 for a nominal fee. Cassa di Risparmio della Provincia di Chieti S.p.A. was the successor of the bank that known as "Cassa di Risparmio della Provincia di Chieti", which was under legal reconstruction in 1990s. The former legal entity of "Cassa di Risparmio della Provincia di Chieti" became Fondazione Cassa di Risparmio della Provincia di Chieti, which was the majority shareholder of the S.p.A. before its failure in 2015.
Banca Popolare di Bari S.C.p.A. is an Italian bank based in Bari, Apulia region. The bank covers most of mainland Italy, except Piedmont and Liguria, and all the autonomous regions of Italy: Aosta Valley, Trentino – South Tyrol, Friuli – Venezia Giulia and the islands of Sardinia and Sicily.
Banca Popolare di Ancona S.p.A. is an Italian bank based in Jesi, in the Province of Ancona, Marche. it is a subsidiary of UBI Banca.
Cassa di Risparmio di Fano S.p.A. (Carifano) was an Italian saving bank based in Fano, Marche. The bank had 40 branches all in Marche and Umbria.
Carimonte Banca was an Italian bank based in Bologna, Emilia–Romagna region. The bank was formed on 12 July 1991 by the merger of Banca del Monte di Bologna e Ravenna and Cassa di Risparmio di Modena. On 31 December 1995 was merged with Credito Romagnolo to form Rolo Banca.
Banca Tirrenica S.p.A. formerly known as Nuova Banca dell'Etruria e del Lazio S.p.A. was an Italian bank based in Arezzo, Tuscany. The bank was re-established on 22 November 2015 as a good bank of the original Banca Popolare dell'Etruria e del Lazio (BPEL). The bank was bought by UBI Banca on 18 January 2017 for a nominal fee.
Cassa di Risparmio di Fermo S.p.A. (Carifermo) is an Italian savings bank based in Fermo, Marche region.
Cassa di Risparmio di Calabria e Lucania S.p.A. (Carical) was an Italian bank based in Cosenza, Calabria. The bank was merged with other banks to form Banca Carime.
Associazione di Fondazioni e di Casse di Risparmio S.p.A. is an Italian banking association. The members were the savings banks of Italy, or the foundation that originate from the reform trigger by Legge Amato.
Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona known as Cariverona in short, was an Italian savings bank headquartered in Verona. In 1991, due to Legge Amato, the bank was split into two organizations, Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona S.p.A. and Fondazione Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona. They joined Unicredito banking group as founding subsidiary and shareholder respectively. The banking foundation was a minority shareholder of the successor of the banking group UniCredit.
Cassa di Risparmio della Marca Trivigiana also known as Cassamarca in short, was an Italian savings bank headquartered in Treviso, Veneto. Due to Legge Amato, the bank was split into two organizations: Cassamarca S.p.A. and Fondazione Cassamarca – Cassa di Risparmio della Marca Trivigiana in 1992. The S.p.A. and the banking foundation were the founders of banking group Unicredito in 1994, a predecessor of UniCredit. The S.p.A. was absorbed into UniCredit in 2002; the banking foundation, survived as a charity organization, as well as owned 0.23% shares of UniCredit, as one of its investments.