Cassa di Risparmio di Tortona was an Italian savings bank based in

Tortona Tortona (; , ; ) is a ''comune'' of Piemonte, in the Province of Alessandria, Italy. Tortona is sited on the right bank of the Scrivia between the plain of Spinetta Marengo, Marengo and the foothills of the Ligurian Apennines. Its ''frazione'' of ...

, Piedmont. The bank was merged into

Banca Lombarda Banca Lombarda e Piemontese was an Italian banking group. It was formed as Banca Lombarda in 1998 by the merger of Banca San Paolo di Brescia (with subsidiary Banca di Valle Camonica) and Credito Agrario Bresciano (with subsidiary Banco di San ...

in 1999 (the predecessor of

UBI Banca Unione di Banche Italiane S.p.A., commonly known for its trading name UBI Banca, was an Italian banking group, the fifth largest in Italy by number of branches. It was formed on 1 April 2007 from the merger of the Banche Popolari Unite (trading ...

), while the former owner of the bank, ''Fondazione Cassa di Risparmio di Tortona'', still operates as a charity organization.

History

Cassa di Risparmio di Tortona was found in 1911. In 1991 due to

Legge Amato Legge () is a surname. Notable people with the surname include: *Alexander Legge (1866–1933), US businessman, president of International Harvester *Anthony Legge (1939–2013), British archaeologist specialized in zooarchaeology *Arthur Kaye Legg ...

, 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 ...

(Banca Cassa di Risparmio di Tortona SpA) and Fondazione Cassa di Risparmio di Tortona.

Cassa di Risparmio di Torino Banca Cassa di Risparmio di Torino S.p.A., also known as Banca CRT or Caritorino, was an Italian savings bank based in Turin, founded in 1827 and merged into Unicredito in 1997. In 1998, Unicredito merged with Credito Italiano to form UniCredi ...

(Banca CRT) acquired minority ownership on CR Tortona in 1990s, for 25%. The shares of CR Tortona was sold CR Alessandria after Banca CRT joined Unicredito. In 1999, the majority owner of CR Tortona SpA, Foundation CR Tortona, sold 60% shares of the bank to Banca Lombarda e Piemontese, which was completely disposed in 2006. The intermediate holding company of the bank circa 2004–05 was

Banca Regionale Europea Banca Regionale Europea was an Italian bank based in Cuneo, Piedmont. The bank was a merger of Cassa di Risparmio di Cuneo and Banca del Monte di Lombardia in 1995. History In 2000, the bank joined Group Banca Lombarda e Piemontese. Banca Lombar ...

(60%), a subsidiary of Banca Lombarda, while Banca Lombarda only held 15.20% directly (acquired from the foundation in 2002 for €38,655,113.52). In 2006, Banca Regionale Europea acquired remain 24.8% shares of CR Tortona SpA from Foundation CR Tortona (0.1%) and Fondazione Cassa di Risparmio di Alessandria (24.7% for €38.5 million), which the bank was then absorbed. Banca Lombarda also merged with Banche Popolari Unite in 2007 to form

. Banca Regionale Europea, the former intermediate parent company, was also absorbed by

in 2016.

Banking Foundation

Fondazione Cassa di Risparmio di Tortona still acted as a charity organization. It had an equity of €211,157,304 on 31 December 2013.

References

External links

Fondazione Cassa di Risparmio di Tortona
Banks established in 1911 Italian companies established in 1911 Banks disestablished in 2006 Italian companies disestablished in 2006 Defunct banks of Italy Companies based in Piedmont Province of Alessandria History of UBI Banca {{Italy-bank-stub