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

Foligno Foligno (; 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 Apennines and enters the wide plain of the Clitunno river system. It is located so ...

, Umbria. A subsidiary of

Intesa Sanpaolo Intesa Sanpaolo 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 corporate identity s ...

, 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 Ris ...

in 2012.

History

Found 1857 in Foligno,

Papal States The Papal States ( ; it, Stato Pontificio, ), officially the State of the Church ( it, Stato della Chiesa, ; la, Status Ecclesiasticus;), were a series of territories in the Italian Peninsula under the direct sovereign rule of the pope fro ...

, 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 charitable organization, charity in Europe from Renaissance times until today. Similar institutions were established in the colonies of Catholic countries; the Mexican Nacional Monte de Pie ...

and a saving bank ( it, Cassa di Risparmio).

Cariplo

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 daily banking operation, charity and ownership were separated into a

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 ...

and

Fondazione Cassa di Risparmio di Foligno Cassa di Risparmio di Foligno or Carifol in short, is a former Italian regional bank based in Foligno, Umbria. A subsidiary of Intesa Sanpaolo, the bank was merged with 3 other saving banks in Umbria to form Casse di Risparmio dell'Umbria in 2012 ...

(a banking foundation).

Cassa di Risparmio delle Provincie Lombarde Cassa di Risparmio delle Provincie Lombarde known as Cariplo SpA, was an Italian bank. On 2 January 1998 the bank merged with Banco Ambrosiano Veneto to form Banca Intesa. The company became a short-lived sub-holding company in late 1990s, which w ...

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. It was formed in 1998. In the next year the banking group merged with another bank Banca Commerciale Italiana to become IntesaBCi. However, the name of the group was reverted to Banca Intesa in 2 ...

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 Ascoli may refer to: Places in Italy *Ascoli Satriano, a town and ''comune'' in the province of Foggia in the Apulia region *Province of Ascoli Piceno, a province of the Marche region **Ascoli Piceno, a city which is the seat of the province above ...

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 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 ...

. 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 Apennines, on the flood plain along the upper part of the river Tiber. The city is north of ...

Spoleto Spoleto (, also , , ; la, Spoletum) is an ancient city in the Italian province of Perugia in east-central Umbria on a foothill of the Apennines. It is S. of Trevi, N. of Terni, SE of Perugia; SE of Florence; and N of Rome. History Spolet ...

and Terni and Narni to become part of

. (3 of them from the

Province of Perugia The Province of Perugia ( it, Provincia di 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 al ...

and one of them from the

Province of Terni The Province of Terni ( it, Provincia di 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 ...

). 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 Foligno (; 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 Apennines and enters the wide plain of the Clitunno river system. It is located sou ...

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