Cassa di Risparmio di Piacenza e Vigevano

Cassa di Risparmio di Piacenza e Vigevano SpA was an Italian regional bank based in Piacenza, Emilia-Romagna, as well as a second office in Vigevano, Lombardy. Despite the bank ceased to be exist, the former owner of the bank still operated as a charity organization.

The bank merged with Cassa di Risparmio di Parma SpA (Cariparma) to form Cassa di Risparmio di Parma e Piacenza SpA in 1993,[1] which was acquired by Banca Intesa in 1999 by swapping the shares of Banca Intesa with the shares of "CR Parma e Piacenza SpA". However "CR Parma e Piacenza SpA" was sold to Crédit Agricole S.A. and Fondazione Cariparma in 2007.

Unlike Fondazione Cariparma, the former owner of "CR Parma e Piacenza SpA", "Fondazione Cassa di Risparmio di Piacenza e Vigevano" (Fondazione di Piacenza e Vigevano in short) sold all the shares of Banca Intesa in 2003. The foundation re-entered the bank business in 2008 by acquiring minority ownership of Banca Monte Parma in 2008. However Intesa Sanpaolo acquired Banca Monte Parma from the foundation again from 2011 to 2014.

Cassa di Risparmio di Piacenza e Vigevano

Cassa di Risparmio di Piacenza e Vigevano itself was a merger of the saving banks (Italian: Cassa di Risparmio) of Piacenza and Vigevano, found in 1860 (as Monte di Pietà di Piacenza) and 1857 respectively.[2] Due to Legge Amato, Cassa di Risparmio di Piacenza e Vigevano became two entity, Società per azioni and the foundation in 1991, with the latter acted as a charity organization. The bank merged with Cariparma in 1993.[1]

Bank Foundation

Fondazione Cassa di Risparmio di Piacenza e Vigevano (Fondazione Piacenza e Vigevano in short) was found in 1991, was the owner of the bank. As of 31 December 2013 the foundation had a equity of €347 million.[3]

After several merger, the foundation held 0.131% shares capital of Banca Intesa, the parent company of Cassa di Risparmio di Parma e Piacenza SpA in 2000.[4] The ratio became 0.15% in 2001,[5] diluted to 0.146% in 2002.[6] In 2003 the foundation sold all the remain shares as well as bought a minority interests on Cassa Depositi e Prestiti (0.43%) and Banca Popolare di Sondrio (0.05%).[7] In 2004 the foundation expanded its investment on stock markets from €26,445,087.90 to €68,088,478.60, including increase in investments on Banca Popolare di Sondrio (0.12% ownership), as well as Aereoterminal Venezia (3.79% ownership), Enel (0.02% ownership), Eni (0.003% ownership), Assicurazioni Generali (0.004% ownership), RAS Assicurazioni (0.02% ownership), Snam Rete Gas (0.03% ownership), Sanpaolo IMI (0.004% ownership), UniCredit (0.008% ownership) and STMicroelectronics (0.11% ownership),[8] despite in the next year the interests in Banca Popolare di Sondrio, Eni, Generali, RAS, Snam, Sanpaolo IMI, UniCredit and STMicroelectronics were sold in exchange with the increase in the interests in Enel to 0.08% (decreased to 0.06% next year and remain in the same level as of 2013).[9] The foundation invested on Notrine S.A. in 2006 (for 15% shares).[10] In 2007 the foundation invested on Enìa (0.37% of the total shares).[11] In 2008 as well as the investment in Banca Monte Parma, the ownership in Aereoterminal Venezia was also decreased to 3.29% of the total shares.[12] In 2010 the foundation invested in First Capital SpA for 2% shares.[13]

The foundation was a minority shareholder of FarBanca until 2004. In 2008 the foundation bought 15% minority ownership of Banca Monte Parma from Banca Monte dei Paschi di Siena, thus returned to banking sector to partner with the major shareholder of the bank, Fondazione Monteparma. In 2009 the ownership ratio increased to 18%.[14] However due to the net loss of the bank, the foundations agreed to sell the bank to Intesa Sanpaolo in 2011 with Intesa bore most of the amount of capital increase of the bank. On 22 December 2014 the foundation did not hold any shares on the bank any more.

In 2014 a scandal was exposed for the mismanagement of the investment of the foundation.[15]

References

  1. ↑ 1.0 1.1 "RELAZIONE SULLA GESTIONE: bilancio 2000" (in Italian). Fondazione Cariparma. 11 April 2013. Retrieved 28 March 2015.
  2. ↑ http://www.lafondazione.com/fondazione/profilo.htm
  3. ↑ "bilancio esercizio 2013" (in Italian). Fondazione Piacenza e Vigevano. 13 May 2014. Retrieved 28 March 2015.
  4. ↑ "bilancio 2000" (in Italian). Fondazione Piacenza e Vigevano. 1 December 2005. Retrieved 28 March 2015.
  5. ↑ "bilacnio 2001" (in Italian). Fondazione Piacenza e Vigevano. 1 December 2005. Retrieved 28 March 2015.
  6. ↑ "bilancio 2002" (in Italian). Fondazione Piacenza e Vigevano. 1 December 2005. Retrieved 28 March 2015.
  7. ↑ "bilancio 2003" (in Italian). Fondazione Piacenza e Vigevano. 1 December 2005. Retrieved 28 March 2015.
  8. ↑ "bilancio 2004" (in Italian). Fondazione Piacenza e Vigevano. 1 December 2005. Retrieved 28 March 2015.
  9. ↑ "bilancio esercizio 2005" (in Italian). Fondazione Piacenza e Vigevano. 3 May 2006. Retrieved 28 March 2015.
  10. ↑ "bilancio esercizio 2006" (in Italian). Fondazione Piacenza e Vigevano. 18 October 2007. Retrieved 28 March 2015.
  11. ↑ "bilancio esercizio 2007" (in Italian). Fondazione Piacenza e Vigevano. 18 June 2008. Retrieved 28 March 2015.
  12. ↑ "bilancio esercizio 2008" (in Italian). Fondazione Piacenza e Vigevano. 7 May 2009. Retrieved 28 March 2015.
  13. ↑ "bilancio esercizio 2010" (in Italian). Fondazione Piacenza e Vigevano. 6 May 2011. Retrieved 28 March 2015.
  14. ↑ "bilancio esercizio 2009" (in Italian). Fondazione Piacenza e Vigevano. 14 May 2010. Retrieved 28 March 2015.
  15. ↑ "Fondazione Piacenza e Vigevano, inchieste della Procura e del ministero del Tesoro". Il Fatto Quotidiano (in Italian). 6 August 2014. Retrieved 28 March 2015.

External links