Banca Tercas, formerly known as Cassa di Risparmio della Provincia di Teramo was an Italian savings bank based in

Teramo Teramo (; ) is a city and ''comune'' in the Italian region of Abruzzo, the capital of the province of Teramo. The city, from Rome, is situated between the highest mountains of the Apennines ( Gran Sasso d'Italia) and the Adriatic coast. Th ...

Abruzzo Abruzzo (, ; ; , ''Abbrìzze'' or ''Abbrèzze'' ; ), historically also known as Abruzzi, is a Regions of Italy, region of Southern Italy with an area of 10,763 square km (4,156 sq mi) and a population of 1.3 million. It is divided into four ...

. On 1 January 2011 the bank purchased fellow savings bank Banca Caripe from

Banco Popolare Banco Popolare Società Cooperativa was an Italian bank, formed in 2007 from the merger of Banco Popolare di Verona e Novara (BPVN) and Banca Popolare Italiana (BPI). The bank merged with Banca Popolare di Milano on 1 January 2017. to form Banco ...

. The enlarged banking group was also referred as Tercas Caripe. However, Tercas was acquired by

Banca Popolare di Bari Banca Popolare di Bari S.C.p.A. (BP Bari), now BdM Banca, is an Italian bank based in Bari, Apulia region. The bank covered most of mainland Italy (13 of 18 regions), except Piedmont and Liguria, and all the autonomous regions of Italy: Aosta Valle ...

(BP Bari) in 2014, which in turn Tercas and Caripe became part of the BP Bari Group as divisions. A spin off organization of the bank, Fondazione Cassa di Risparmio della Provincia di Teramo or Fondazione Tercas, still operates as a charity organization and independent from Banca Popolare di Bari.

History

Cassa di Risparmio della Provincia di Teramo was found on 12 October 1939 (date of royal decree) by the merger of Casse di Risparmio di Atri and Casse di Risparmio di Nereto. On 24 June 1992, the bank was split into Tercas S.p.A. and a banking foundation. The banking foundation owned 80% shares of the ''società per azioni'' (company limited by shares), while one of the leading savings bank

Cassa di Risparmio delle Provincie Lombarde Cassa di Risparmio delle Provincie Lombarde, known in shorthand as Cariplo SpA, was an Italian bank founded in 1823. On 2 January 1998, it merged with Banco Ambrosiano Veneto to form Banca Intesa. Cariplo SpA became a short-lived sub-holding comp ...

(Cariplo) owned the rest of shares or 20%. Cariplo also owned 20% shares of fellow Abruzzo-based savings banks Carichieti and

Caripe Caripe is a town in Caripe Municipality in the mountainous north of the state of Monagas in eastern Venezuela. The official name of the town is Caripe del Guácharo 'Caripe of the Oilbird', referring to a colony of nocturnal birds which lives in ...

. In October 2006 Banca Tercas S.p.A. was founded. The banking foundation sold 15% shares they owned to the public.

Banca Intesa Banca Intesa S.p.A. was an Italian banking group, formed in 1998 by merger of Cassa di Risparmio delle Provincie Lombarde (Cariplo) and Banco Ambrosiano Veneto. The next year, the banking group merged with Banca Commerciale Italiana to become ...

, the successor of Cariplo, retained their 20% shares. In 2007

Intesa Sanpaolo Intesa Sanpaolo Società per azioni, S.p.A. is an Italian international banking group. It is Italy's largest bank by total assets and the world's 27th largest. It was formed through the merger of Banca Intesa and Sanpaolo IMI in 2007, but has a ...

, the successor of Banca Intesa, sold their 20% shares on Banca Tercas for €89 million to other investors. Creval was a minority shareholders of the bank for 7.8%. On 1 January 2011 Banca Tercas acquired the controlling interests of Banca Caripe (95%) for €228 million from

Fondazione Pescara Abruzzo Banca Caripe S.p.A. was an Italian saving bank based in Pescara, Abruzzo Region. There were 13 branches of the bank outside the Province of Pescara in Abruzzo and Marche regions, out of 48 total. In 2016 the bank was absorbed by the parent company ...

, the banking foundation which originated from Caripe, owned 3.5% shares of Banca Tercas as well as 5% of Banca Caripe.

Special administration

From 2012 to 30 September 2014, Banca Tercas was under special administration. As at 31 December 2011, the bank had a

shareholder's equity In finance, equity is an ownership interest in property that may be subject to debts or other liabilities. Equity is measured for accounting purposes by subtracting liabilities from the value of the assets owned. For example, if someone owns a ...

of €339.098 million (in consolidated balance sheet), as well as Tier 1 capital ratio of just 5.82% (in

Basel II Basel II is the second of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision. It is now extended and partially superseded by Basel III. The Basel II Accord was publ ...

basis). During the special administration,

Fondo Interbancario di Tutela dei Depositi Fondo () is a ''Communes of Trentino, comune'' (municipality) in Trentino in the northern Italy, Italian region Trentino-Alto Adige/Südtirol, located about north of Trento, precisely at the northern limit of the Val di Non. Fondo borders the f ...

(FITD) contributed €265 million to the bank as capital.

acquired by Banca Popolare di Bari

In November 2013 Banca Tercas was acquired by

(BP Bari). BP Bari subscribed the entire capital increase of Banca Tercas for €230 million. After the capital increase, Banca Tercas had a CET1 capital ratio of 8.052%, in separate balance sheet at 30 September 2014 (

Basel III Basel III is the third of three Basel Accords, a framework that sets international standards and minimums for bank capital requirements, Stress test (financial), stress tests, liquidity regulations, and Leverage (finance), leverage, with the goa ...

basis). However, the ratio was fell back to just 7.025% as at 31 December 2014. (which the

Bank of Italy The Bank of Italy (Italian language, Italian: ''Banca d'Italia'', , informally referred to as ''Bankitalia'') is the National central bank (Eurosystem), national central bank for Italy within the Eurosystem. It was the Italian central bank from ...

required a minimum 4.5% that must maintained all the time, plus 2.5% buffer that should be restore as soon as possible) In December 2015

European Commission The European Commission (EC) is the primary Executive (government), executive arm of the European Union (EU). It operates as a cabinet government, with a number of European Commissioner, members of the Commission (directorial system, informall ...

ruled that the bail-out of Banca Tercas by FITD was a state aid, requesting the bank to return the aid to the deposit guarantee fund. FITD then set up a voluntary intervention mechanism to allow the member banks of FITD voluntary to inject capital again to Tercas for €271,868,990.25 and other banks.Aiuti di Stato, risoluzioni bancarie e FITD
(in Italian) At the same time, Banca Tercas S.p.A. was absorbed into BP Bari. Banca Tercas ceased to be a separate legal entity and became a division.

Banking foundation

Fondazione Cassa di Risparmio della Provincia di Teramo or Fondazione Tercas is the original legal person of the bank, which became the parent entity of the new legal person of the bank, a ''

società per azioni (; abbr. S.p.A. or spa ) is a form of corporation in law of Italy, Italy, meaning 'company with shares' (although often translated as 'joint-stock company', which may or may not be a limited liability entity). It is more or less equivalent to ...

'', from 1992 until the bail-out. The foundation currently a charity organization for the Abruzzo region.

Sponsorship

The bank was a sponsor of

Teramo Basket Teramo Basket was a professional basketball club that is based in Teramo, Italy. Established in 1960, Teramo played in the Serie A (basketball), Lega Basket Serie A (LBA), Italy's top league, for 10 years before they were moved to the Serie B. Th ...

References

External links

*
Official website of Fondazione Tercas
{{in lang, it Banks established in 1939 Banks disestablished in 2016 2016 disestablishments in Italy Defunct banks of Italy Companies based in Teramo Italian brands Cariplo acquisitions Italian companies established in 1939