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

Tortona Tortona (; pms, Torton-a , ; lat, Dhertona) 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 Marengo and the foothills of the Ligurian Apennines. History ...

, Piedmont. The bank was merged into Banca Lombarda 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 Legge ...

, the daily banking operation and ownership were split 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 ...

(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. known as Banca CRT, or Caritorino, was an Italian savings bank based in Turin, Piedmont. In 1997, the bank joined Unicredito banking group, as well as in 1998 followed the group to merge with Credito Ita ...

(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 Unicredito was an Italian holding company, formed by the owner of banks: the banking foundations of Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona (Cariverona Banca) and Cassa di Risparmio della Marca Trivigiana (Cassamarca), in a ratio of ...

. In 1999, the majority owner of CR Tortona SpA, Foundation CR Tortona, sold 60% shares of the bank to

Banca Lombarda e Piemontese 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 G ...

, 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 Lombarda ...

(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 Cassa di Risparmio di Alessandria was an Italian regional bank based in Alessandria, Piedmont. It was absorbed into the parent company Banca Popolare di Milano in 2012. The former owner of the bank, Fondazione Cassa di Risparmio di Alessandria, st ...

(24.7% for €38.5 million), which the bank was then absorbed. Banca Lombarda also merged with

Banche Popolari Unite 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 ...

in 2007 to form

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