Cassa di Risparmio del Friuli Venezia Giulia

Cassa di Risparmio del Friuli Venezia Giulia S.p.A. known as CariFVG in short, was an Italian savings bank based in Gorizia, Friuli – Venezia Giulia region.

Cassa di Risparmio del Friuli Venezia Giulia
FormerlyFriulcassa S.p.A. Cassa di Risparmio Regionale
Typesubsidiary
IndustryFinancial services
Predecessor
  • Cassa di Risparmio di Udine e Pordenone
  • Cassa di Risparmio di Gorizia
  • Monte di Credito su Pegno di Udine
Founded1 December 2003 (2003-12-01)
Defunct2018[1]
Fateabsorbed by Intesa Sanpaolo
Headquarters
Gorizia, Italy(registered office)
Udine, Italy(de facto)
Number of locations
Decrease 92 branches and business centers(end 2016)
Decrease 88 branches and business centers(end 2017)
Area served
Friuli – Venezia Giulia region
Key people
Giuseppe Morandini(chairman, until April 2017)
Paolo Baessato(chairman, since May 2017)
Stefano Baro(general manager and managing director)
Services
  • Retail banking
  • corporate banking
Increase €00011 million(2016)
Decrease €00005 million(2017)
Total assets
Increase €3.970 billion(2016)
Increase €4.872 billion(2017)
Total equity
Increase €0265 million(2016)
Increase €0284 million(2017)
OwnerIntesa Sanpaolo (100%)
Number of employees
Decrease 883(end 2016)
Decrease 874(end 2017)
ParentIntesa Sanpaolo
Capital ratio
Increase 15.0%(CET1, end 2016)
Decrease 14.7%(CET1, end 2017)
Rating
No rating(Moody's, December 2017)[2]
Baa1/P-2(parent company rating, Moody's, December 2017)
Websitewww.carifvg.it
Footnotes / references
sources[3][4]

Predecessors

Cassa di Risparmio di Gorizia

Cassa di Risparmio di Gorizia was found on 1831 in Gorizia and Gradisca, in the Austrian Empire by the Count Giuseppe/Joseph (della Torre) von Thurn Hofer und Valsassina.[5] Due to Legge Amato, the bank formed a subsidiary Cassa di Risparmio di Gorizia S.p.A. (a company limited by shares; Italian: società per azioni), with the original corporation became a private entity Fondazione Cassa di Risparmio di Gorizia. (Decree of the Ministry of the Treasury on 26 June 1992; gazetted on 22 July 1992)[6]

Cassa di Risparmio di Udine e Pordenone

A predecessor of Cassa di Risparmio di Udine e Pordenone was formed in 1496 as a mount of piety (Italian: monte di pietà), by a Franciscan Domenico da Ponzone,[7] in the Republic of Venice, 34 years after the first recorded mount of Italy was founded in Perugia, by other Franciscans, Bernardine of Feltre and Michele Carcano, in the Papal States.[8]

The first savings bank (Italian: cassa di risparmio) of the city was formed in 1822 but soon ceased business.[9]

In 1876 Cassa di Risparmio di Udine was re-established as an autonomous entity on the basis of a branch of Cassa di Risparmio delle Provincie Lombarde.[9]

In 1928, due to the royal decree-law No.269 of 1927,[10] (law no.2587 of 1927[11]) which promoted merger of banks if they did not pass a threshold of size, the savings bank acquired the mounts of piety located in San Daniele del Friuli and Cividale del Friuli.[9]

During World War II, in 1942, the mount, as that time known as its new name Monte di Credito su Pegno di Udine, was merged to the savings bank.[12]

It was renamed to Cassa di Risparmio di Udine e Pordenone in 1968 (same year as the foundation of the Province of Pordenone, which was split from the Province of Udine).[9]

By a decree of the Ministry of the Treasury, Cassa di Risparmio di Udine e Pordenone S.p.A. was formed in 1991 and the original statutory corporation became Fondazione Cassa di Risparmio di Udine e Pordenone (now Fondazione Friuli). The limited company immediately recapitalized, which Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona owned 25% stake of the share capital after increase.[13]

As subsidiaries of Casse Venete Banca

The two foundations of the savings banks, along with banking foundations from Venice and Padova–Rovigo, formed a common holding company Casse Venete Banca. The holding merged with Casse Emiliano Romagnole in 2000 to form Cardine Banca and in 2002 the group merged with Sanpaolo IMI. During the period the two savings banks remained as two separate subsidiaries.

History

On 1 December 2003 Friulcassa S.p.A. Cassa di Risparmio Regionale was formed by the merger of the two savings banks.[14] The bank later renamed as Cassa di Risparmio del Friuli Venezia Giulia S.p.A. in 2007. In the same year the parent company Sanpaolo IMI also merged with Banca Intesa. The merger also triggered the group sold another subsidiary FriulAdria to Crédit Agricole due to Crédit Agricole withdrew as the shareholders of Intesa, as well as to avoid monopoly market share in the region. However, the group was still not allowed to open new branches in the Province of Udine and Gorizia for two years.[15]

On 22 December 2017, after Intesa Sanpaolo acquired Banca Popolare di Vicenza and Veneto Banca, the banking group announced that Cassa di Risparmio del Friuli Venezia Giulia would be absorbed into Intesa Sanpaolo as branches.

See also

References
general
  • "Cassa di Risparmio del Friuli Venezia Giulia" (in Italian). Intesa Sanpaolo. 16 December 2010. Retrieved 21 March 2016.
specific
  1. "Intesa Sanpaolo: mergers of Group companies" (Press release). Intesa Sanpolo. 24 May 2018. Retrieved 15 July 2018.
  2. "Moody's assigns definitive rating to Italian RMBS notes issued by Brera Sec S.r.l." (Press release). Milan: Moody’s Investors Service. 11 December 2017. Retrieved 23 December 2017.
  3. "2016 Bilancio" (PDF) (in Italian). Cassa di Risparmio del Friuli Venezia Giulia. 2017. Retrieved 23 December 2017.
  4. "2017 Bilancio" (PDF) (in Italian). Cassa di Risparmio del Friuli Venezia Giulia. 2018. Retrieved 15 July 2018.
  5. "Dal Monte di Pietà alla Cassa di risparmio di Gorizia" (in Italian). Fondazione Cassa di Risparmio di Gorizia. Archived from the original on 19 March 2016. Retrieved 21 March 2016.
  6. Ministry of the Treasury (22 July 1992). "Approvazione del progetto di ristrutturazione presentato dalla Cassa di risparmio di Gorizia" (in Italian). Italian Republic Official Gazette. Retrieved 20 March 2016.
  7. "PONZONE, Domenico da". Treccani (in Italian). Retrieved 2 December 2017.
  8. Toaff, Ariel (2004). "Jews, Franciscans, and the First Monti di Pietà in Italy (1462–1500)". In McMichael, Steven J.; Myers, Susan E. (eds.). Friars and Jews in the Middle Ages and Renaissance. Leiden: Koninklijke Brill. p. 239.
  9. "Cassa di Risparmio di Udine e Pordenone". mappastorica.com. Intesa Sanpaolo. Archived from the original on 2016-04-17. Retrieved 2016-04-06.
  10. "REGIO DEORETO-LEGGE 10 febbraio 1927, n. 269" (PDF). Gazzetta Ufficiale (in Italian). Vol. 68, no. 58. Rome. 11 March 1927 [written on 10 February 1927; digitized on 15 November 2008]. pp. 1067–1070 – via Agenzia per l'Italia Digitale.
  11. "LEGGE 29 dicembre 1927, n. 2587 | Conversione in legge del R. decreto-legge 10 febbraio 1927, n. 269, recante modificazioni alle norme vigenti sull'ordinamento delle Casse ordinarie di risparmlose del Monti di pietà di 1ª categoria" (PDF). Gazzetta Ufficiale (in Italian). Vol. 69, no. 15. Rome. 19 January 1928 [written on 29 December 1927; digitized on 1 November 2008]. pp. 263–267 – via Agenzia per l'Italia Digitale.
  12. "Regio Decreto N°1272/1942" (PDF). Gazzetta Ufficiale (in Italian). Vol. 83, no. 267. Rome. 11 November 1942 [written on 24 August 1942, digitized on 21 January 2009]. p. 4590. Retrieved 24 November 2017 – via Agenzia per l'Italia Digitale.
  13. Ministry of the Treasury (30 December 1991). "Approvazione del progetto di ristrutturazione presentato dalla Cassa di risparmio di Udine e Pordenone ai sensi della legge 30 luglio 1990, n. 218 e del decreto legislativo 20 novembre 1990, n. 356" (in Italian). Italian Republic Official Gazette. Retrieved 20 March 2016.
  14. "CASSA DI RISPARMIO DI GORIZIA - S.p.a." (in Italian). Italian Republic Official Gazette. 8 October 2003. Retrieved 20 March 2016.
  15. "Provvedimento N°16249 (C8027) - Banca Intesa / Sanpaolo IMI" (PDF) (in Italian). Autorità Garante della Concorrenza e del Mercato. 20 December 2006. Archived from the original (PDF) on 5 March 2016. Retrieved 5 March 2016.
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