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Cassa di Risparmio di Fano

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Cassa di Risparmio di Fano
Carifano
Company typesubsidiary of a listed company
IndustryFinancial services
Founded
  • 14 January 1843 (1843-01-14) in Fano
  • 28 May 1992 (1992-05-28) (as S.p.A.)
  • 18 April 2011 (2011-04-18) (Nuova Carifano)
Defunct2016
Fateabsorbed by the parent company
Successor
  • branches of Credito Valtellinese
  • Carifano Foundation (charity)
Headquarters
Fano
,
Italy
Number of locations
40 branches (2015)
Area served
Marche and Umbria regions
ServicesRetail banking
Increase (€6,749,974) (2015)
Total assetsDecrease €1,972,715,609 (2015)
Total equityDecrease €107,973,861 (2015)
OwnerCredito Valtellinese (100%)
ParentCredito Valtellinese
Capital ratio9.56% (Tier 1)[1]

Cassa di Risparmio di Fano S.p.A. (Carifano) was an Italian saving bank based in Fano, Marche. The bank had 40 branches all in Marche and Umbria.

History

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Cassa di Risparmio di Fano was founded on 14 January 1843 in Fano, the Papal States. Due to Legge Amato, on 28 May 1992, a Società per Azioni (limited company) and a banking foundation (Fondazione Cassa di Risparmio di Fano) were found.[2] In the late 1990s, Banca Popolare di Ancona (BPA) acquired 60% shares of the company, with the foundation and other shareholders retained the remaining stake. In 1996 BPA owned 59.76% shares, its parent company Banca Popolare di Bergamo – Credito Varesino owned 0.29%.[3] It was increased to 66.14% (plus 0.25%) in 1999.[4] In 2002 the remain 33.38% was sold by the foundation for €75 million[5] to BPA. That year BPA owned 99.771% shares, as BP Bergamo transferred their 0.25036% shares to BPA.[6][7] In 2003 it became part of Banche Popolari Unite.

On 27 July 2005 BPA sold 99.92% shares of Carifano to Banca Intesa (through sub-holding Casse del Centro for buying 30%) and FCM S.p.A. (a special purpose entity for buying 69.92%) for €280 million.[8][9]

On 3 December 2008 Credito Valtellinese acquired 81.63% shares of Carifano from Intesa Sanpaolo (30%) and from FCM S.p.A. (51.63%) for €382.941 million.[10] It also triggered a public offer to buy the remaining 13.37% shares, as FCM S.p.A. chose to retain 5%. In 2009 Credito Valtellinese owned 94.85% shares. In 2011 increased to 99.73%. On 1 January 2012 the privatization was completed. A new company, Nuova Carifano S.p.A. was also incorporated on 18 April 2011 to receive the assets and liabilities of old Carifano which was absorbed into Credito Valtellinese.

On 20 September 2016 Credito Valtellinese has announced a plan to absorb Carifano again.[11] The legal date was expected on 28 November.

Banking foundation

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Fondazione Cassa di Risparmio di Fano was in fact the original statutory corporation of the bank. After a modification of the articles of association, as well as sold the subsidiary entirely from the 1990s to 2002, the foundation became a private legal person, with an aim on charity activities for Fano and surrounding area. The foundation had a shareholders' equity of €117,851,453 at 31 December 2015. The bank was a minority shareholder of Banca delle Marche, Credito Valtellinese, Banca Carim, Cassa Depositi e Prestiti and CDP Reti.[12] The foundation was the owner of San Domenico, as the location to display the arts collection of the organization.

See also

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References

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  1. ^ "2015 Relazioni e bilancio" (PDF) (in Italian). Cassa di Risparmio di Fano. 9 April 2016. Retrieved 23 September 2016.
  2. ^ "Approvazione del progetto di ristrutturazione presentato dalla Cassa di risparmio di Fano" (in Italian). Italian Republic Official Gazette. 22 June 1992. Retrieved 20 February 2016.
  3. ^ "1996 Bilancio (part 7)" (PDF) (in Italian). Banca Popolare di Bergamo – C.V. 1997. Archived from the original (PDF) on 22 October 2000. Retrieved 22 April 2016.
  4. ^ "1999 Bilancio: Gruppo Banca Popolare di Bergamo – C.V." (PDF) (in Italian). Banca Popolare di Bergamo – Credito Varesino. 2000. Archived from the original (PDF) on September 15, 2000. Retrieved 22 April 2016.
  5. ^ "2002 Bilancio" (PDF) (in Italian). Fondazione Cassa di Risparmio di Fano. 5 May 2003. Retrieved 14 February 2016.
  6. ^ "2002 bilancio consolidato" (PDF) (in Italian). Banca Popolare di Bergamo – Credito Varesino (BPB–CV). 12 April 2003. Retrieved 20 February 2016.
  7. ^ "2002 Bilancio individuale" (PDF) (in Italian). BPB–CV. 12 April 2003. Retrieved 20 February 2016.
  8. ^ "2005 Bilancio consolidato" (in Italian). Banche Popolari Unite. 22 April 2006. Retrieved 14 February 2016.
  9. ^ "BANCA INTESA SIGNS THE AGREEMENT FOR ACQUISITION OF CONTROL OF CASSA DI RISPARMIO DI FANO". Banca Intesa. 24 March 2005. Retrieved 20 February 2016.
  10. ^ "2008 Relazioni e bilancio" (PDF) (in Italian). Credito Valtellinese. 4 June 2009. Retrieved 14 February 2016.
  11. ^ "MERGER BY INCORPORATION OF CARIFANO S.P.A.INTO CREDITO VALTELLINESE S.C" (PDF). Credito Valtellinese. 20 September 2016. Retrieved 29 September 2016.
  12. ^ "2015 Bilancio" (PDF) (in Italian). Fondazione Cassa di Risparmio di Fano. 27 April 2016. Retrieved 29 September 2016.
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