Cassa di Risparmio di Jesi S.p.A. formerly Cassa di Risparmio di Jesi was an Italian

savings bank A savings bank is a financial institution whose primary purpose is accepting savings account, savings deposits and paying interest on those deposits. History of banking, They originated in Europe during the 18th century with the aim of providi ...

based in

Iesi Jesi, also spelled Iesi (), is a town and ''comune'' of the province of Ancona in Marche, Italy. It is an important industrial and artistic center in the floodplain on the left (north) bank of the Esino river before its mouth on the Adriatic ...

( it, Jesi), in the Province of Ancona, the Marche region. The bank had a successor heFondazione Cassa di Risparmio di Jesi which still acted as a local charity organisation. Cassa di Risparmio di Jesi also issued '' Miniassegno'' in the past.

History

The bank was found in 1844 in the

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 ...

, initially as Cassa di Risparmio in Jesi, a '' società anonima''. The bank later became a private

statutory corporation A statutory corporation is a government entity created as a statutory body by statute. Their precise nature varies by jurisdiction, thus, they are statutes owned by a government or controlled by national or sub-national government to the (in ...

without shareholders. Due to enactment of an Italian law, the bank absorbed some smaller savings bank in Marche. In 1980s, the bank also attempted to absorb bankrupted Cassa di Risparmio di Ancona, but it was acquired by

Cassa di Risparmio di Verona, Vicenza e Belluno Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona known as Cariverona in short, was an Italian savings bank headquartered in Verona. In 1991, due to , the bank was split into two organizations, Cassa di Risparmio di Verona, Vicenza, Belluno e ...

instead. In 1992 the bank was spin-off to form 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 ...

'' (a kind of limited company) and a banking foundation. Lombard bank

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 ...

(Cariplo), a predecessor of Italian major banks

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 ...

and

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 ...

, also subscribed a capital increase of the limited company for 66.67 billion lire (30 billion lire as share capital and the rest as share premium) in the same year. In 1995 the limited company was acquired by

Banca delle Marche Banca Adriatica S.p.A. trading as UBI Banca Adriatica and formerly known as Nuova Banca delle Marche S.p.A. was an Italian bank based in Jesi, Marche region. It has operations in several regions in central Italy, but concentrated in Marche region ...

in an all-share deal. Banca delle Marche itself was founded in 1994 by a merger of to other savings banks of Marche region in

Macerata Macerata () is a city and ''comune'' in central Italy, the county seat of the province of Macerata in the Marche region. It has a population of about 41,564. History The historical city centre is on a hill between the Chienti and Potenza ri ...

and

Pesaro Pesaro () is a city and ''comune'' in the Italian region of Marche, capital of the Province of Pesaro e Urbino, on the Adriatic Sea. According to the 2011 census, its population was 95,011, making it the second most populous city in the Marche, ...

Banking foundation

As of 31 December 2012, heFondazione Cassa di Risparmio di Jesi, the successor of the original legal person of the bank, still owned about 10% stake in Banca delle Marche. The foundation subscribed all the capital increase of the bank in order to maintain the ownership ratio. However, it also caused the foundation concentrating its investment on the bank. In 2015,

Associazione di Fondazioni e di Casse di Risparmio S.p.A. Associazione di Fondazioni e di Casse di Risparmio S.p.A. (Association of Foundations and Savings Banks) is an Italian banking association. The members were the savings banks ( it, casse di risparmio or singular ''cassa di risparmio'') of Italy, or ...

, the trade association of the former savings banks, on behalf with its members, also signed a memorandum of understanding (MoU) with the Ministry of Economy and Finance for the new regulation on the assets of the foundations, which the Fondazione CR Jesi was one of the members of the association which signed the MoU regarding diversify its investment. However, it happened after the failure of Banca delle Marche, which was administrated since 2013. In November 2015 the shareholders and subordinated bond owner of Banca delle Marche were bail-in to the failure of the bank, with the National Resolution Fund was the sole owner of refounded

Nuova Banca delle Marche Banca Adriatica S.p.A. trading as UBI Banca Adriatica and formerly known as Nuova Banca delle Marche S.p.A. was an Italian bank based in Jesi, Marche region. It has operations in several regions in central Italy, but concentrated in Marche region ...

. The net assets of the foundation decreased from €76,388,622 to €10,989,510 year-to-year, mainly due to the write-off of the value of the shares of ldBanca delle Marche. Other assets of the foundation included a minority stake in

Cassa Depositi e Prestiti Cassa Depositi e Prestiti S.p.A. (also kwown as CDP or CDP Group) is a prominent Italian investment bank founded on November 20, 1850, in Turin. Its main duty was to finance public works like roads and waterworks during the reign of Victor Emman ...

for 0.002% share capital, due to the adjustment of the share capital and the subsequent dilution to the stake that owned by banking foundations, as well as Italian government bond "BTP Italia", etc. The foundation organised arts exhibition in Marche. The headquarters of the foundation was located in an ancient building

Palazzo Bisaccioni A palace is a grand residence, especially a royal residence, or the home of a head of state or some other high-ranking dignitary, such as a bishop or archbishop. The word is derived from the Latin name palātium, for Palatine Hill in Rome which ...

, which was the headquarters of the bank.

References

External links

Fondazione Cassa di Risparmio di Jesi
{{Authority control Banks established in 1844 1844 establishments in the Papal States Banks established in 1992 Italian companies established in 1992 Banks disestablished in 1995 Italian companies disestablished in 1995 Defunct banks of Italy Companies based in le Marche Cariplo acquisitions Re-established companies Italian companies established in 1844 Iesi

History

Banking foundation

See also

References

External links