Cassa di Risparmio di Foligno

Cassa di Risparmio di Foligno or Carifol in short, is a former Italian regional bank based in Foligno, Umbria. A subsidiary of Intesa Sanpaolo, the bank was merged with 3 other saving banks in Umbria to form Casse di Risparmio dell'Umbria in 2012.

Unlike other bank foundation, former owner of the bank, Fondazione Cassa di Risparmio di Foligno did not keep the shares of Intesa Sanpaolo as their investment.

History

Found 1857 in Foligno, Papal States, the bank had a philanthropic mission to operate a mount of piety and a saving bank (Italian: Cassa di Risparmio). In 1992, due to Legge Amato, the daily banking operation, charity and ownership were separated into Società per azioni and Fondazione Cassa di Risparmio di Foligno.[1] In 1990s Cariplo acquired a minority interests of the bank for 18.34%.[2] In July 1999 Banca Intesa the successor of Cariplo, acquired an additional 47.1% ownership from the foundation[3] (reached 70.47% at the end of year 1999[4]), as well as grouped 4 other saving banks in Central Italy (2 from Umbria, 2 from Lazio) to one intermediate holding company Holding Intesa Centro (which 97.63% of shares was held by Intesa and the foundations held the rest[3]). In 2001, Ascoli was added into the mini-group, followed by Terni and Narni in 2003.

In 2007, Carifol followed the ultimate holding company to become part of Intesa Sanpaolo. Followed the merger with Banca CR Firenze in 2008, Banca CR Firenze became the new intermediate holding company, as well as in 2012 merged Carifol with 3 former member of "Casse" Central Holding, Città di Castello, Spoleto and Terni and Narni to become part of Casse di Risparmio dell'Umbria. (3 of the from Province of Perugia and one of them from the Province of Terni). As part of the deal, Intesa also bought the remain shares from the foundations. Prior the merger, Banca CR Firenze reached 70.529% ownership ratio on Carifol in 2010 and purchased an additional 21.23% (7,233,756 of 34,078,500 total shares) from the foundation for €27,271,260.12 in 2012, as well as 4.59% (1,565,100 of 34,078,500 total shares) from minority shareholder for about €5.9 million.[5][6]

Sponsorship

The bank was a sponsor of Foligno Calcio.[7]

Bank Foundation

Fondazione Cassa di Risparmio di Foligno current runs as a charity organization.

References

  1. ↑ "La Storia" (in Italian). Fondazione Cassa di Risparmio di Foligno. Retrieved 27 March 2015.
  2. ↑ Cariplo SpA bilancio (financial report and accounts) on 31 December 1996 (Italian), PDF purchased from Italian CCIAA
  3. ↑ 3.0 3.1 "Relazione sulla gestione Bilancio consolidato 1999" (in Italian). 2 June 2000. Retrieved 27 March 2015.
  4. ↑ "Allegati Bilancio d'impresa 1999" (in Italian). 2 June 2000. Retrieved 27 March 2015.
  5. ↑ 2012 Annual report Banca CR Firenze
  6. ↑ 2013 bilancio Fondazione Cassa di Risparmio di Foligno (Italian)
  7. ↑ "CARIFO-Foligno calcio, un binomio sempre più saldo" (in Italian). TRG Media. 15 November 2006. Retrieved 27 March 2015.

See also

External links