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Cassa di Risparmio di Carrara

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C.R. Carrara
Native name
Cassa di Risparmio di Carrara S.p.A.
Company typesubsidiary of a listed company
IndustryFinancial services
Founded
  • 1843
  • 1992 (S.p.A.)
Defunct2015
Fateabsorbed by the parent company
Successor
  • Fondazione CR Carrara (charity)
  • branches of Banca Carige (banking)
Headquarters
Carrara
,
Italy
ServicesRetail and corporate banking
Total assets€1,225,203,326 (mid-2015)
Total equity€97,102,869 (mid-2015)
Owner
Parent
  • Fondazione CR Carrara (1992–95)
  • Carinord (1995–2004)
  • Banca Carige (2004–15)
Footnotes / references
in separate financial statements[1]

Cassa di Risparmio di Carrara S.p.A. was an Italian saving bank based in Carrara, Tuscany. The bank was absorbed by the parent company Banca Carige in 2015.

History

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Cassa di Risparmio di Carrara was found in 1843 in Carrara in the Duchy of Modena and Reggio. In 1992 the statutory corporation was split into a limited company (Italian: società per azioni) and Fondazione Cassa di Risparmio di Carrara (a banking foundation).[2] At that time the banking foundation owned 66.67% stake of the company, with the rest was owned by Cassa di Risparmio delle Provincie Lombarde (Cariplo). In 1995, a sub-holding company "Carinord Holding" was formed, which Cariplo was the significant shareholder for 30.93% stake,[3] in turn the holding owned 90% stake of CR Carrara. The holding also owned the saving bank in Alessandria (50% + 1 share) and Spezia (68.19%).[4] In 1998 Cariplo became part of Banca Intesa. In 2002 Carinord was split into Carinord 1 and Carinord 2; CR Alessandria was owned by Carinord 1 S.p.A. and Carispezia and CAR Carrara were owned by Carinord 2. As at 31 December 2002, Banca Intesa owned 41.14% stake in Carinord 2 S.p.A. , with the banking foundations of Carispezia and CR Carrara remained as the minority shareholders of the sub-holding.

In 2003 CR Carrara and Carispezia were acquired by Banca Carige and Banca CR Firenze respectively.[5] Carige acquired about 43.49% stake in Carinord 2 from Intesa (16.46% for €46 million) and the banking foundation of CR Carrara (27.03%) for €183,764,644 in total (with 5,192,231 shares or 2.44% stake of Carinord 2 was re-sold to Banca CR Firenze for €10,301,778 in the eve of demerger).[6] In April 2004 Carinord 2 was demerged and Caricarrara Holding S.p.A. was created, making the 90% stake of the saving bank cost Carige about €173 million.

As at 31 December 2014, the banking foundation still owned 10% of the saving bank, as well as 0.679% stake in Banca Carige.[7]

In 2015 Banca Carige absorbed CR Carrara and sister companies Cassa di Risparmio di Savona and Columbus Carige Immobiliare. Carige purchased the remaining 10% stake by issuing new shares of Carige.[7]

Foundation

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After spin off the banking activities, the original entity of the bank became Fondazione Cassa di Risparmio di Carrara. As at 31 December 2015, the foundation had a net assets of €109 million. It is a minority shareholder of Banca Carige and Cassa Depositi e Prestiti for 1.17% and 0.019% respectively.[8]

The foundation also signed a shareholders' agreement with Fondazione Cassa di Risparmio di Savona, Coop Liguria and Talea Società di Gestione Immobiliare for a total of 4.17% shares.[9]

References

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  1. ^ "Situazione patrimoniale CR Carrara 2015-06-30" (PDF) (in Italian). Banca Carige. 18 September 2015. Retrieved 17 May 2016.
  2. ^ Ministry of the Treasury (10 June 1992). "Approvazione del progetto di ristrutturazione presentato dalla Cassa di risparmio di Carrara" (in Italian). Italian Republic Official Gazette. Retrieved 17 May 2016.
  3. ^ Cassa di Risparmio delle Provincie Lombarde S.p.A. bilancio (financial report and accounts) on 31 December 1996 (in Italian), PDF purchased from Italian C.C.I.A.A.
  4. ^ "Cariplo / Carinord" (PDF) (in Italian). Banca d'Italia. 5 October 1995. Retrieved 17 May 2016.
  5. ^ "Comunicati stampa Intesa Sanpaolo" (in Italian). Banca Intesa. 17 July 2003. Retrieved 22 March 2015.
  6. ^ "2004 Consolidated Financial Statements" (PDF). Banca Carige. 19 September 2005. Retrieved 17 May 2016.
  7. ^ a b "2014 Bilancio Consuntivo" (PDF) (in Italian). Fondazione Cassa di Risparmio di Carrara. 18 May 2015. Archived from the original (PDF) on 15 August 2016. Retrieved 17 May 2016.
  8. ^ "2015 Bilancio Consuntivo" [2015 Annual Report] (PDF) (in Italian). Fondazione Cassa di Risparmio di Carrara. 9 May 2016. Retrieved 23 April 2017.
  9. ^ "Informazioni essenziali ai sensi dell'art. 122 del D. Lgs. 24 febbraio 1998 n. 58 (TUF) e dell'art. 130 del Reg. CONSOB 14 maggio 1999 n. 11971 (Reg. Emittenti) in merito a patto parasociale relativo ad azioni ordinarie di BANCA CARIGE S.p.A." (PDF) (in Italian). Banca Carige. 8 July 2015. Retrieved 23 April 2017.
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