Cassa di Risparmio di Foligno, or Carifol in short, is a former Italian regional bank based in

Foligno Foligno (; Central Italian, Southern Umbrian: ''Fuligno'') is an ancient town of Italy in the province of Perugia in east central Umbria, on the Topino river where it leaves the Apennine Mountains, Apennines and enters the wide plain of the Clit ...

, Umbria. A subsidiary of

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 bank was merged with 3 other saving banks in Umbria to form

Casse di Risparmio dell'Umbria Casse di Risparmio dell'Umbria S.p.A., known as Casse dell'Umbria, is an Italian retail bank based in Terni, Umbria. The bank is a subsidiary of Intesa Sanpaolo (via Banca CR Firenze). The headquarter of the bank was next to Fondazione Cassa di R ...

in 2012.

History

Found 1857 in Foligno,

Papal States The Papal States ( ; ; ), officially the State of the Church, were a conglomeration of territories on the Italian peninsula under the direct sovereign rule of the pope from 756 to 1870. They were among the major states of Italy from the 8th c ...

, the bank had a

philanthropic Philanthropy is a form of altruism that consists of "private initiatives for the public good, focusing on quality of life". Philanthropy contrasts with business initiatives, which are private initiatives for private good, focusing on material ...

mission to operate a

mount of piety A mount of piety is an institutional pawnbroker run as a charity in Europe from Renaissance times until today. Similar institutions were established in the colonies of Catholic countries; the Mexican Nacional Monte de Piedad is still in operation ...

and a saving bank ().

Cariplo

In 1992, due to Legge Amato, the daily banking operation, charity and ownership were separated 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 Foligno (a banking foundation).

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 ...

also immediately acquired 20% stake in the new limited company. The stake was diluted to 18.34% in 1996.

Banca Intesa

In July 1999

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, acquired an additional 47.1% ownership from the foundation (reached 70.47% at the end of year 1999), as well as grouped 4 other saving banks in Central Italy (2 from Umbria, 2 from Lazio) to one intermediate holding company Holding Intesa Centro (which 97.63% stake of the holding was held by Intesa and the 3 banking foundations (except the Carivit Foundation) held the rest). In 2001, Ascoli was added into the mini-group, followed by Terni and Narni in 2003. In 2007, Carifol followed the ultimate holding company to become part of

Group. In 2008 the group acquired Banca CR Firenze. Intesa Sanapolo sold the shares of Casse del Centro (ex-Holding Intesa Centro) to Banca CR Firenze, making the Florence bank becoming the new intermediate holding company.

merger

In 2012 Carifol and 3 former member of "Casse" Central Holding,

Città di Castello Città di Castello (); "Castle Town") is a city and ''comune'' in the province of Perugia, in the northern part of Umbria. It is situated on a slope of the Apennine Mountains, Apennines, on the flood plain along the upper part of the river Tiber. T ...

Spoleto Spoleto (, also , , ; ) is an ancient city in the Italian province of Perugia in east-central Umbria on a foothill of the Apennines. It is south of Trevi, north of Terni, southeast of Perugia; southeast of Florence; and north of Rome. H ...

and Terni and Narni to become part of

. (3 of them from the

Province of Perugia The province of Perugia () is the larger of the two provinces in the Umbria region of Italy, comprising two-thirds of both the area and population of the region. Its capital is the city of Perugia. The province covered all of Umbria until 1927, w ...

and one of them from the

Province of Terni The province of Terni () is the smaller of the two provinces in the Umbria region of Italy, comprising one-third of both the area and population of the region. Its capital is the city of Terni. The province came into being in 1927, when it was ca ...

). As part of the deal, Intesa also bought the remain shares from the foundations. Prior to the merger, Banca CR Firenze reached 70.529% ownership ratio on Carifol in 2010 and purchased an additional 21.23% (7,233,756 of 34,078,500 total shares) from the foundation for €27,271,260.12 in 2012, as well as 4.59% (1,565,100 of 34,078,500 total shares) from minority shareholder for about €5.9 million.

Sponsorship

The bank was a sponsor of Foligno Calcio.

References

External links

Fondazione Cassa di Risparmio di Foligno
{{Authority control Banks established in 1857 Banks disestablished in 2012 1857 establishments in the Papal States Italian companies disestablished in 2012 Defunct banks of Italy Companies based in Umbria Foligno Former Intesa Sanpaolo subsidiaries Banca Intesa acquisitions Italian companies established in 1857