Cassa di Risparmio di Prato

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.[1]

Cassa di Risparmio di Prato
Cariprato
Type
IndustryFinancial services
Founded
  • 1830
  • 1992 (S.p.A. and foundation spin-off
FounderGiovacchino Benini Edit this on Wikidata
Defunct2010
Fate
  • bank business absorbed by parent company BPVi
  • charity functions continued by a spin-off foundation since 1992
Successor
  • BPVi branches
  • Fondazione Cariprato
Headquarters
Prato
,
Italy
Services
  • retail banking
  • corporate banking
OwnerBanca Popolare di Vicenza
ParentBanca Popolare di Vicenza

The former owner of the bank, Fondazione Cariprato, as of 31 December 2013, still owned 0.5% shares of BPVi.[2] However, in January 2015 the foundation also announced that they would diversify their investments by decreasing the shares holding on one company.[3]

History

Cassa di Risparmio di Prato was found in 1830 in the Grand Duchy of Tuscany, a year after the formation of Cassa di Risparmio di Firenze. The bank gained an independent status (part away from C.R. Firenze) on 13 October 1882. Cariprato was the first bank that bail-out by Fondo Interbancario di Tutela dei Depositi in 1988, which the bank was acquired by Banca Monte dei Paschi di Siena (Banca MPS).[4]

In 1992, due to Legge Amato the bank was divided into società per azioni (limited company) and Fondazione Cariprato (a banking foundation).[5] In 1995 a new legal person for the bank was incorporated, which the banking foundation only owned 21% shares.[2] Banca MPS sold the controlling interests (79%) to Banca Popolare di Vicenza in March 2003 for €411.2 million.[6] Due to the 2010 complete takeover, the foundation gained about 0.5% shares of BPVi (347,459 number of shares of BPVi with €60.5 unit price, plus €33,378,513.5 cash for 13% Cariprato shares) as well as €33,440,000 for the remaining 8%.[7] The takeover also caused a minor conservatory, which the arts collection of Cariprato had moved to Vicenza instead of remained in Prato.[8]

Banking foundation

Fondazione Cassa di Risparmio di Prato or Fondazione Cariprato currently is a charity organization. The foundation failed to elect the board of director in 2013.[9]

See also
other bank from the provincial capital of Tuscany

References
  1. "CariPrato incorporata dalla Popolare di Vicenza". La Nazione (in Italian). 13 July 2010. Retrieved 27 March 2015.
  2. 2013 bilancio Fondazione Cariprato
  3. "Fondazione Cassa di Risparmio di Prato dimezza la sua partecipazione in Bpv" (in Italian). Notizie di Prato. 29 January 2015. Retrieved 27 March 2015.
  4. "DISBURSEMENTS AND RECOVERIES BY THE ITALIAN INSURANCE FUND, 1988 THROUGH 1997" (PDF). Fondo Interbancario di Tutela dei Depositi. Archived from the original (PDF) on 9 March 2016. Retrieved 8 March 2016.
  5. "Approvazione del progetto di ristrutturazione presentato dalla Cassa di risparmio di Prato" (in Italian). Italian Republic Official Gazette. 4 September 1992. Retrieved 8 March 2016.
  6. "2003 annual report" (PDF). Banca Popolare di Vicenza. 30 June 2004. Retrieved 8 March 2016.
  7. "2010 Bilancio" (PDF) (in Italian). Fondazione Cariprato. 19 May 2011. Retrieved 29 March 2015.
  8. "Quadri della ex Cariprato, sale la protesta in città". Il Tirreno (in Italian). 20 July 2013. Retrieved 28 March 2015.
  9. "L'affondo di Carlesi sulla Fondazione CariPrato: gestita come se fosse privata". Il Tirreno (in Italian). 9 July 2013. Retrieved 28 March 2015.


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