Cassa di Risparmio di Pisa is a former Italian saving bank and charity organization, based in Pisa, Tuscany. The bank was spin off into a banking foundation and 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 ...

in 1992. The S.p.A. was acquired by

Banca Popolare di Lodi Banca Popolare di Lodi was an Italian cooperative bank based in Lodi, Lombardy. The bank was absorbed into parent company Banco Popolare in 2011. However, the bank still operates as a division and a brand of the group. History Banca Popolare di Lo ...

, which was completely absorbed into its subsidiary the saving bank of Lucca in 2006. While the banking foundation, ''Ente Cassa di Risparmio di Pisa'' and then ''Fondazione Cassa di Risparmio di Pisa'' (currently

Fondazione Pisa The Fondazione Pisa (formerly Fondazione Cassa di Risparmio di Pisa) is a charity organization that was spun off from Cassa di Risparmio di Pisa (the Saving Bank of Pisa) in 1992. From 1992 to 1999 the foundation was the major shareholder of the b ...

), still operates as a non-profit organization. The foundation also inherited the arts collection of the former bank.

History

Cassa di Risparmio di Pisa was formed on 15 June 1834.

Casse Toscane

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 split into an ''ente'' and 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 ...

on 7 April 1992 (gazetted on 6 May). About 13.05% shares of the new company were non-voting saving shares ( it, Azione di risparmio). The ''ente'' immediately sold about 70% shares to

Casse Toscane 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 ...

(and received 11.5% shares of Casse Toscane), a new intermediate holding company for the saving bank ( it, Cassa di Risparmio) of Pisa,

Florence Florence ( ; it, Firenze ) is a city in Central Italy and the capital city of the Tuscany region. It is the most populated city in Tuscany, with 383,083 inhabitants in 2016, and over 1,520,000 in its metropolitan area.Bilancio demografico an ...

Livorno Livorno () is a port city on the Ligurian Sea on the western coast of Tuscany, Italy. It is the capital of the Province of Livorno, having a population of 158,493 residents in December 2017. It is traditionally known in English as Leghorn (pronou ...

, Lucca, Pistoia–Pescia, San Miniato and

Banca del Monte di Lucca Banca del Monte di Lucca S.p.A. is an Italian bank. It was related to charity organization Fondazione Banca del Monte di Lucca which they were split in 1990s. Bank The predecessor of the bank, a mount of piety ( it, monte di pietà), was founded in ...

. The ''ente'' only hold about 16.95% voting rights of the bank directly or about 25% combined (excluding the saving shares).

Casse del Tirreno

In 1995, CR Pisa, Livorno, Lucca and Banca Monte Lucca quit the union and formed Holding

Casse del Tirreno Cassa di Risparmio di Lucca Pisa e Livorno S.p.A. was an Italian saving bank based in Lucca. It was a subsidiary of Banco Popolare and currently a sub-division (under BPL) and brand of the group Banco BPM. History Cassa di Risparmio di Lucca Cass ...

(literally ''Tyrrhenian saving banks'').

Banca Popolare di Lodi

In 1999, C.R. Pisa, Livorno and Lucca were acquired by

(BPL) through sub-holding companies. In 2000 C.R. Pisa had 59 branches. At that time Casse del Tirreno owned 61.69% shares of C.R. Pisa S.p.A.. Istituto di Credito delle Casse di Risparmio Italiane acted as an intermediate holding company (ICCRI, a subsidiary of Bipielle Partecipazioni, another intermediate holding company) that owned 50.01% Casse del Tirreno. However, CR Pisa SpA also owned 1.35% of Casse del Tirreno. In 2001 Casse del Tirreno was absorbed into ICCRI – Banca Federale Europea (ex-ICCRI), which hold 61.31% shares of CR Pisa; Bipielle Partecipazioni owned an additional 12.97% shares of CR Pisa S.p.A. Pisa Foundation also became a minority shareholders of ICCRI for 7.32%, due to the transactions. In 2002 Bipielle Retail became the new intermediate holding company for the 74.28% shares, while Pisa Foundation owned 25.63% shares of CR Pisa S.p.A., as well as 3.91% of BPL's sub-holding Bipielle Investimenti. In 2003, through CR Lucca S.p.A. (and another intermediate holding company

Reti Bancarie Reti Bancarie S.p.A. was an intermediate holding company of Banca Popolare di Lodi Group (aka Bipielle; BPL). BPL's subsidiary reverse takeover listed company Banco di Chiavari e della Riviera Ligure in 2003. in 2006 it was absorbed into BPL. Hist ...

), BPL completely privatized CR Pisa SpA. Pisa Foundation owned 7.48% shares of CR Lucca S.p.A. instead. However, BPL and Pisa Foundation also signed an agreement on 12 December 2003 that BPL would buy the shares from the foundation before 15 January 2008. BPL also bought the shares of Bipielle Investimenti from the foundation.

Absorbed to CR Lucca Pisa Livorno

In 2006 CR Pisa SpA was completely absorbed into CR Lucca SpA, which the latter was renamed into CR Lucca, Pisa & Livorno SpA. Immediately after the merger, on 1 July 2006 Pisa Foundation owned 6.66% shares of the new entity. The last annual report of CR Pisa SpA shown the bank had a shareholders equity of €504.789 million on 31 December 2005.

References

External links

{{Authority control Banks established in 1834 Banks disestablished in 2006 Italian companies disestablished in 2006 Defunct banks of Italy Companies based in Pisa Banco Popolare 1834 establishments in the Grand Duchy of Tuscany Italian companies established in 1834