Cassa di Risparmio di Prato S.p.A. or known as Cariprato or C.R. Prato, is a former Italian saving bank based in

Prato Prato ( , ) is a city and ''comune'' in Tuscany, Italy, the capital of the Province of Prato. The city lies in the north east of Tuscany, at the foot of Monte Retaia, elevation , the last peak in the Calvana chain. With more than 200,000 i ...

, Tuscany. It was acquired by

Banca Popolare di Vicenza Banca Popolare di Vicenza (BPVi) was an Italian bank and currently a winding-down company. The banking group along was the 15th-largest retail and corporate bank of Italy by total assets at 31 December 2016, according to Mediobanca. However, its si ...

(BPVi) in 2003. In 2010 it was completely absorbed by the parent company as its own branded branches. The former owner of the bank, Fondazione Cariprato, as of 31 December 2013, still owned 0.5% shares of BPVi.2013 bilancio
Fondazione Cariprato However, in January 2015 the foundation also announced that they would diversify their investments by decrease the shares holding on one company.

History

Cassa di Risparmio di Prato was found in 1830 in the

Grand Duchy of Tuscany The Grand Duchy of Tuscany ( it, Granducato di Toscana; la, Magnus Ducatus Etruriae) was an Italian monarchy that existed, with interruptions, from 1569 to 1859, replacing the Republic of Florence. The grand duchy's capital was Florence. In th ...

, a year after the formation of

Cassa di Risparmio di Firenze Banca Cassa di Risparmio di Firenze S.p.A. known as Banca CR Firenze, was an Italian savings bank. Once a listed company, the group now part of Intesa Sanpaolo since 2007. History Cassa di Risparmio di Firenze (The Saving Bank of Florence) was fou ...

. The bank gained an independent status (part away from C.R. Firenze) on 13 October 1882. Cariprato was the first bank that bail-out by

Fondo Interbancario di Tutela dei Depositi Fondo Interbancario di Tutela dei Depositi (FITD) is an Italian Deposit insurance, deposit guarantee fund founded in 1987. The fund became a mandatory scheme by the EU Deposit Guarantee Schemes Directive (94/19/EEC). However, the cooperative banks ...

in 1988, which the bank was acquired by

Banca Monte dei Paschi di Siena Banca Monte dei Paschi di Siena S.p.A. (), known as BMPS or just MPS, is an Italian bank. Tracing its history to a mount of piety founded in 1472 () and established in its present form in 1624 (), it is the world's oldest or second oldest bank ...

(Banca MPS). In 1992, 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 Legge ...

the bank was divided into

società per azioni ''Società'' (Italian: ''Society'') was an Italian communist cultural magazine published in Italy between 1945 and 1961. History and profile ''Società'' was founded as a quarterly magazine in Florence in 1945. The founders were Ranuccio Bianchi ...

(limited company) and Fondazione Cariprato (a banking foundation). In 1995 a new

legal person In law, a legal person is any person or 'thing' (less ambiguously, any legal entity) that can do the things a human person is usually able to do in law – such as enter into contracts, sue and be sued, own property, and so on. The reason for ...

for the bank was incorporated, which the banking foundation only owned 21% shares. Banca MPS sold the controlling interests (79%) to

in March 2003 for €411.2 million. Due to 2010 complete takeover, the foundation gained about 0.5% shares of BPVi (347,459 number of shares of BPVi with €60.5 unit price, plus €33,378,513.5 cash for 13% Cariprato shares) as well as €33,440,000 for the remain 8%. The takeover also caused a minor conservatory, which the arts collection of Cariprato had moved to Vicenza instead of remained in Prato.

Banking foundation

Fondazione Cassa di Risparmio di Prato or Fondazione Cariprato currently is a charity organization. The foundation failed to elect the board of director in 2013.

References

External links

Fondazione Cariprato
Banks established in 1830 Banks disestablished in 2010 1830 establishments in Italy Italian companies disestablished in 2010 Defunct banks of Italy Companies based in Tuscany Prato Former Montepaschi subsidiaries Banca Popolare di Vicenza {{Italy-bank-stub

History

Banking foundation

See also

References

External links