Cassa di Risparmio di Alessandria was an Italian regional bank based in Alessandria, Piedmont. It was absorbed into the parent company

Banca Popolare di Milano Banca Popolare di Milano S.p.A. also known as Bipiemme or just BPM is an Italian bank based in Milan, Lombardy. The bank is a wholly owned subsidiary of Banco BPM. Banca Popolare di Milano S.c. a r.l., an urban area cooperative bank, was founded ...

in 2012. The former owner of the bank, Fondazione Cassa di Risparmio di Alessandria, still operates as a charity organization.

History

Founded on 21 August 1838, at that time still in

Kingdom of Sardinia The Kingdom of Sardinia, also referred to as the Kingdom of Sardinia and Corsica among other names, was a State (polity), country in Southern Europe from the late 13th until the mid-19th century, and from 1297 to 1768 for the Corsican part of ...

. The daily banking operation and ownership were split into 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 ...

and Fondazione Cassa di Risparmio di Alessandria in 1991.

Istituto Mobiliare Italiano The Istituto Mobiliare Italiano (IMI, ) was a public financial institution in Italy based in Rome, founded in 1931, privatized in the 1990s and eventually acquired in 1998 by Istituto Bancario San Paolo di Torino. Its name survives in Banca IMI, t ...

also subscribed the capital increase of the bank for 23

billion Billion is a word for a large number, and it has two distinct definitions: * 1,000,000,000, i.e. one thousand million, or (ten to the ninth power), as defined on the short scale. This is now the most common sense of the word in all varieties of ...

lire (15.330 billion lire increase in share capital), owning 11.33% stake after the deal. In 1995, the bank was merged with the saving banks () from Spezia and

Carrara Carrara ( ; ; , ) is a town and ''comune'' in Tuscany, in central Italy, of the province of Massa and Carrara, and notable for the white or blue-grey Carrara marble, marble quarried there. It is on the Carrione River, some Boxing the compass, ...

to form "Carinord Holding" (acronym of ''Ca.Ri.'' North), which the former owners of the banks (the foundations) as well as

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) were the new shareholders of the holding company, despite the three banks remains as separate subsidiaries. In 2002 CR Alessandria was break away from the union, which Foundation CR Alessandria and Cariplo were the major shareholders of the bank (80%) through "Carinord 1 SpA", a 50-50 joint venture. The foundation held 20% directly, thus held 60% shares directly and indirectly in total. In 2003

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 ...

(ex-Cariplo) sold its shares on the bank to

. At the same time the foundation held a minority shares of Banca Popolare di Milano and some of its subsidiaries, as well as retained the 20% shares on CR Alessandria. On 11 February 2012 the bank was absorbed by Banca di Legnano, a wholly owned subsidiary of Banca Popolare di Milano, despite Banca di Legnano was absorbed also in 2013. CR Alessandria was the minority shareholders of Cassa di Risparmio di Tortona which acquired from Cassa di Risparmio di Torino. Due to 2003 transactions, the shares of Tortona was owned by the foundation of CR Alessandria instead.

Bank Foundation

Fondazione Cassa di Risparmio di Alessandria still operates as a charity organization. In 2006 the foundation sold the minority shares holding in Cassa di Risparmio di Tortona to Banca Regionale Europea, a subsidiary of Banca Lombarda e Piemontese for €38.5 million. As of 31 December 2013, the foundation had an equity of €311,593,557. The foundation held a minority shares holding in Cassa Depositi e Prestiti for 39,932 shares, as well as 0.506% of

References

External links

Fondazione Cassa di Risparmio di Alessandria
Banks established in 1838 Banks disestablished in 2012 Italian companies disestablished in 2012 Defunct banks of Italy Companies based in Piedmont Alessandria Banca Popolare di Milano Italian companies established in 1838 {{Italy-bank-stub

History

Bank Foundation

See also

References

External links