Cassa di Risparmio di Pistoia e della Lucchesia (literally ''The Savings bank of Pistoia and Lucchesia''; known as Caripistoia, Caript or just CRPT in short) is an Italian regional bank based in Pistoia, Tuscany. The bank was a subsidiary of

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 ...

, with

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 ...

as the ultimate holding company.

History

Cassa di Risparmio di Pistoia e Pescia was found in 1936 by the merger of Cassa di Risparmio di Pistoia (found 1831) and

Pescia Pescia () is an Italian city in the province of Pistoia, Tuscany, central Italy. It is located in a central zone between the cities Lucca and Florence, on the banks of the river of the same name. History Archaeological excavations have suggest ...

(1840). The bank also absorbed Banca di Pistoia in 1932, and Pistoia

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 ...

in 1937.

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 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 ...

(limited company), and a non-profit organization (Ente Cassa di Risparmio di Pistoia e Pescia, which was renamed to

Fondazione Cassa di Risparmio di Pistoia e Pescia Cassa di Risparmio di Pistoia e della Lucchesia (literally ''The Savings bank of Pistoia and Lucchesia''; known as Caripistoia, Caript or just CRPT in short) is an Italian regional bank based in Pistoia, Tuscany. The bank was a subsidiary of Banca ...

in late 1990s) on 13 April 1992 (gazetted on 14 May). At that time around 17.748% of the shares were "saving shares" (4,000,000, it, azioni di risparmio). The ''ente'' also immediately sold around 51% shares to an intermediate holding company Holding

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 ...

(literally ''Tuscan saving banks''), which consists of the saving bank ( it, Cassa di Risparmio) of

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 ...

(Banca CR Firenze),

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 Lucca ( , ) is a city and ''comune'' in Tuscany, Central Italy, on the Serchio River, in a fertile plain near the Ligurian Sea. The city has a population of about 89,000, while its province has a population of 383,957. Lucca is known as one o ...

Pisa Pisa ( , or ) is a city and ''comune'' in Tuscany, central Italy, straddling the Arno just before it empties into the Ligurian Sea. It is the capital city of the Province of Pisa. Although Pisa is known worldwide for its leaning tower, the cit ...

San Miniato San Miniato is a town and ''comune'' in the province of Pisa, in the region of Tuscany, Italy. San Miniato sits at an historically strategic location atop three small hills where it dominates the lower Arno valley, between the valleys of Ego ...

as well as Banca del Monte di Lucca. In return the ''ente'' received around 10% shares of the holding, making the ''ente'' hold about 31.525% of the shares of the bank directly or about 36.4% combined (saving shares excluded), as well as minority interests in other banks. In 1995 CR Lucca, Livorno and Pisa, as well as Banca del Monte di Lucca, formed their own banking group (

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 Cas ...

), leaving Florence, Pistoia–Pescia and San Miniato in Casse Toscane.

Banca CR Firenze

In March 1998 Pistoia–Pescia and San Miniato were demerged from Casse Toscane as Finanziaria CRPT and Finanziaria CRSM respectively. In November Finanziaria CRPT, which hold 11,357,012 ordinary shares (about 50.39% share capitals or 61.26% ordinary shares; 10,000 lire each) of the bank, was merged back to CR Pistoia–Pescia. In December 1999 Florence Saving Bank purchased 51% of the ordinary shares, with the foundation retained a minority interests only (9,083,498 of 10,000 lire par value; 49% of the ordinary shares equivalent to 40.3% share capitals as at 31 December 2001. plus preferred shares). The foundation also owned 3.95% shares of Banca CR Firenze (as of 31 December 2000), due to the acquisition. In 2005 Banca CR Firenze purchased an additional 9% ordinary shares from the foundation for €32,533,751.25. The foundation retained 74,151,005 ordinary shares (40% of all ordinary shares) and 15,200,000 preferred shares (38% of all preferred shares) as at 31 December 2006 for €0.63 par value (increased from €0.52 in 2005), which equivalent to 39.65% total share capitals.

Intesa Sanpaolo

The Saving bank of Pistoia and Pescia followed Banca CR Firenze merged into banking group

on 29 January 2008. The foundation sold 44,275,505 ordinary and saving shares (19.65% total share capitals) for about €84 million in January 2012. In 2012, the bank was renamed into Cassa di Risparmio di Pistoia e della Lucchesia, as the branches of the bank was extended from the Province of Pistoia to the Province of Lucca (from 10 branches to 31 branches in 2012) and the Province of Massa–Carrara (7 new branches), by selling 3 branches in the Province of Pistoia and all branches in the Provinces of Florence (4), Prato (4) and Bologna (11) to sister companies. After the deals the number of shares was increased from 225,377,500 to 272,771,873, which Banca CR Firenze hold 74.883%, Intesa Sanpaolo hold 8.105% and the foundation hold 16.525% (but all were

golden share In business and finance, a golden share is a nominal share which is able to outvote all other shares in certain specified circumstances, often held by a government organization, in a government company undergoing the process of privatization and ...

s); preferred shares were converted to ordinary shares. As at 31 December 2014, the foundation also owned 0.01413% shares of

Sponsorship

The bank was a sponsor of

Pistoia Basket 2000 A.S. Pistoia Basket 2000, known for sponsorship reasons as OriOra Pistoia, is an Italian professional basketball team based in Pistoia, Tuscany. History The city of Pistoia was formerly represented in the first division LBA by Olimpia Basket Pist ...

References

External links

* {{Authority control Banks established in 1831 Italian companies established in 1831 Banks disestablished in 2018 Italian companies disestablished in 2018 Defunct banks of Italy Companies based in Tuscany Pistoia Former Intesa Sanpaolo subsidiaries Banca CR Firenze acquisitions 1831 establishments in the Grand Duchy of Tuscany