Fondazione Cariverona

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Fondazione Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona, also known as Fondazione Cariverona is an Italian banking foundation based in Verona, Veneto region. The foundation was created in 1991.

Contents

History

Due to the Legge Amato  [ it ], a law that required banks to become companies limited by shares (Italian : società per azioni ). The bank Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona (Cariverona) spin off the banking activities to form Cariverona Banca S.p.A., with the original statutory corporation and legal person was renamed into Fondazione Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona. It was approved by The Decree of the Ministry of the Treasury on 20 December 1991 and the Decree was gazetted on 24 January 1992. [1] The foundation retained its membership at Associazione di Casse di Risparmio (ACRI), which was renamed into Associazione di Fondazioni e di Casse di Risparmio S.p.A. after the 1990s banking reform.

The foundation later formed an intermediate holding company with the fellow banking foundation, the Fondazione Cassamarca, the owner of the savings bank Cassa di Risparmio della Marca Trivigiana (Cassamarca). It was the birth of Unicredito, one of the predecessors of UniCredit (formerly called Unicredito Italiano). Unicredito merged with Credito Italiano in 1998 to form Unicredito Italiano.

In the past, it was reported that the foundation had a tie with the political party Lega Nord and had an influence on the resignation of UniCredit's CEO Alessandro Profumo in 2010. At that time, the foundation owned 4.6% shares of the bank. [2] As at 31 December 2010, Fondazione Cariverona was the fourth largest shareholder of UniCredit. [3]

In 2015, Giovanni Battista Alberti, a statutory auditor of UniCredit (Italian : Collegio Sindacale, similar to the audit committee, but not a member of the board of directors), resigned from his position. It was reported that Alberti also linked to the foundation. [4] His role at the bank was originally ended in 2016. [5] Alberti himself is a Province of Verona native, a university professor, a charter accountant, and auditor. [6]

Also in 2015, the foundation signed a deal with the Ministry of Economy and Finance, to diversify its investment, especially from UniCredit. [7] It was reported that the foundation was interested to invest in Italy's popolare banks, which were about to be merged due to another banking reform. [7] However, the foundation bought the minority stake of the listed co-op insurer Cattolica Assicurazioni from Banca Popolare di Vicenza (BPVi) in April 2017, [8] instead of buying any stake of popolare banks. Soon after, BPVi was taken over by the government due to bankruptcy. The foundation sold part of their stake in Cattolica in November 2019. [9]

The stake of the foundation at UniCredit was diluted again by the 2017 cash call. [10] As at 31 December 2017, the foundation only owned 1.8% stake of the bank. [11]

As at 31 December 2018, the foundation was a minority shareholder of UniCredit, as well as in Cattolica Assicurazioni, doBank, A4 Holding (a company that owned the concession of Brescia–Verona–Vicenza–Padua section of Autostrada A4) and Aeroporto Valerio Catullo di Verona Villafranca (the operator of the airport of the same name). [12] : 108 

Protection of historical buildings

The foundation is active in the real estate sector, it purchased ancient buildings, such as Palazzo Forti  [ it ] as well as the Palazzo del Capitanio  [ it ] from the comune government. [13] The latter was being restored from 2013 to 2018. [14]

The foundation was also involved in the restoration of the Verona Arena. [15]

Arts

The savings bank before the 1990s split had made a few arts purchases. The banking foundation inherited the collection as well as published several arts books on the behalf of other book publishings, such as an exhibition catalogue. [16]

From 2000 to 2005, the foundation was a sponsor of Biblioteca Civica di Belluno, located in Palazzo Crepadona, Belluno. [17] The palace held the exhibition Marco Ricci e il paesaggio veneto del Settecento in 1993. [16]

Related Research Articles

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.

Banca Intesa S.p.A. was an Italian banking group. It was formed in 1998. In the next year the banking group merged with another bank Banca Commerciale Italiana to become IntesaBCi. However, the name of the group was reverted to Banca Intesa in 2003. In 2007 Banca Intesa merged with another banking group Sanpaolo IMI to become Intesa Sanpaolo, one of few domestic systemically important bank of Italy.

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

<span class="mw-page-title-main">Banca Popolare di Vicenza</span>

Banca Popolare di Vicenza (BPVi) was an Italian bank and currently a winding-down company. The banking group along was the 15th-largest retail and corporate bank of Italy by total assets at 31 December 2016, according to Mediobanca. However, its sister bank Veneto Banca also ranked 16th in the same ranking, making the whole banking group that under Atlante, had a higher pro-forma total assets than 10th of the same ranking, Crédit Agricole Italia. Due to its size, BPVi and Veneto Banca were both supervised by the European Central Bank directly, instead of the Bank of Italy.

Cassa di Risparmio di Prato S.p.A. or known as Cariprato or C.R. Prato, is a former Italian saving bank based in Prato, Tuscany. It was acquired by Banca Popolare di Vicenza (BPVi) in 2003. In 2010 it was completely absorbed by the parent company as its own branded branches.

<span class="mw-page-title-main">Cassa di Risparmio di Torino</span>

Banca Cassa di Risparmio di Torino S.p.A. known as Banca CRT, or Caritorino, was an Italian savings bank based in Turin, Piedmont. In 1997, the bank joined Unicredito banking group, as well as in 1998 followed the group to merge with Credito Italiano to form UniCredito Italiano. In 2002, Banca CRT was absorbed into the parent company.

Banca Cassa di Risparmio di Savigliano S.p.A. is an Italian saving bank. The bank was based in Savigliano, in the Province of Cuneo, Piedmont.

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.

Cassa di Risparmio del Veneto S.p.A., known as CR Veneto, was an Italian savings bank, headquartered in Padua, Veneto. It was a subsidiary of Intesa Sanpaolo.

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.

Banca Popolare di Cividale is an Italian cooperative bank based in Cividale del Friuli, Friuli - Venezia Giulia.

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.

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.

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 regulated by the EU Alternative Investment Fund Managers Directive.

<span class="mw-page-title-main">Cattolica Assicurazioni</span>

Società Cattolica di Assicurazione – Società Cooperativa known as Cattolica Assicurazioni is an Italian insurance company. According to Ricerche e Studi, a subsidiary of Mediobanca, the group had €5,382,471,000 gross premiums written making it the 6th largest Italian insurance company, or the fifth excluding Allianz, a subsidiary of the German insurer. Research by ANIA, showed the insurer as being ranked 5th by market share in non-life insurance (5.63%), but not in the top 5 in life insurance.

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.

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.

<span class="mw-page-title-main">Monte di Credito su Pegno di Vicenza</span>

Monte di Credito su Pegno di Vicenza was an Italian bank based in Vicenza. It was originated as a mount of piety known as Monte di Pietà di Vicenza. Due to Legge Amato, the legal person of the bank spin off its banking business as a società per azioni in 1995, and sold the business to Cariverona Banca in 1996; the original legal person of the bank became Fondazione Monte di Pietà di Vicenza. The bank was known for its headquarters, Palazzo del Monte di Pietà in the Piazza dei Signori.

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

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.

Cassa di Risparmio di Trieste was an Italian savings bank headquartered in Trieste that operated between 1842 and 2002.

References

  1. ↑ Ministry of the Treasury (24 January 1992). "Approvazione del progetto di ristrutturazione presentato dalla Cassa di risparmio di Verona, Vicenza, Belluno e Ancona". Gazzetta Ufficiale (in Italian). Retrieved 20 March 2016.
  2. ↑ Hooper, John; Milmo, Dan (22 September 2010). Written at Rome. "UniCredit boss resigns over Libyan row". The Guardian. London. Retrieved 21 November 2019.
  3. ↑ "Relazione sulla gestione" (PDF). UniCredit S.p.A. Relazioni e Bilancio 2010 (Report) (in Italian). UniCredit. 2011. p. 27. Retrieved 22 November 2019.[ permanent dead link ]
  4. ↑ Sanderson, Rachel (13 June 2016). Written at Milan. "UniCredit investors seek governance overhaul" . Financial Times. London. Retrieved 21 November 2019.
  5. ↑ Relazioni e Bilancio Consolidato 2014 (PDF) (Report) (in Italian). UniCredit. 2015. Archived from the original (PDF) on 25 September 2020. Retrieved 22 November 2019.
  6. ↑ "Prof. Giovanni Battista Alberti". Studio Alberti & Associati. c. 2019. Retrieved 22 November 2019.
  7. 1 2 Ferrando, Marco (6 May 2015). "CariVerona bank foundation eyes building a €1 bn war chest to spend in "popolari" M&A". Il Sole 24 Ore. Retrieved 21 November 2019.
  8. ↑ "Cattolica Assicurazioni via da BPV: compra Cariverona". Vicenza Today (in Italian). 6 April 2017. Retrieved 22 November 2019.
  9. ↑ "Cattolica: Fond. Cariverona scende dal 3,43% al 2,97% del capitale". borsaitaliana.it (in Italian). Milan. Il Sole 24 Ore Radiocor. 18 November 2019. Retrieved 22 November 2019.
  10. ↑ Rosca, Matei (9 February 2017). "UniCredit's cash call boosts analysts' hopes for Italian bank sector". Market Intelligence. S&P Global. Retrieved 21 November 2019.
  11. ↑ 2017 Relazione e Bilancio di Esercizio e di missione (PDF) (Report) (in Italian). Fondazione Cariverona. 2018. p. 12. Retrieved 22 November 2019.
  12. ↑ 2018 Relazione e Bilancio di Esercizio e di missione (PDF) (Report) (in Italian). Fondazione Cariverona. 2019. Retrieved 21 November 2019.
  13. ↑ Nicoletti, Federico (31 October 2011). "Fondazione Cariverona, i Comuni puntano sul fondo immobiliare". Corriere del Veneto (in Italian). Venice. Retrieved 21 October 2019.
  14. ↑ "Palazzo Capitanio". 10 August 2016.
  15. ↑ Barry, Colleen (17 December 2014). Written at Milan. "Verona's Arena to get $17.5 million restoration". The San Diego Union-Tribune. San Diego (CA). AP. Retrieved 21 November 2019.
  16. 1 2 Marco Ricci e il paesaggio veneto del Settecento. Electa Mondadori. 1993. ISBN   8843544616.
  17. ↑ "La sede: Palazzo Crepadona" (in Italian). Belluno: Biblioteca Civica. Retrieved 17 November 2019.
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