Cassa di Risparmio di Venezia

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CR Venezia
Native name
 Cassa di Risparmio di Venezia
Subsidiary of listed company
Industry Bank
Founded 1822
Defunct 2014
Headquarters Venice, Italy
Owners Intesa Sanpaolo

Cassa di Risparmio di Venezia S.p.A. known as Carive or CR Venezia in short, is a former Italian regional bank, based in Venice, Veneto. It was a subsidiary of Intesa Sanpaolo. The former owner of the bank, Fondazione di Venezia, still acts as a charity-organization.

History

Reform in the banking sector in Venice was found by Napoleonic Italy as Banco Pignoratizio Comunale in 1806, using mount of piety model. In 1820, the Kingdom of Lombardy–Venetia (part of Austrian Empire) government introduce saving bank (Italian: Cassa di Risparmio ) system to the city, which the opening of Cassa di Risparmio di Venezia was gazetted on 13 February 1822, despite the bank already opened on 12 February, the birthday of Francis II, Holy Roman Emperor (the ruler of Austrian Empire).[1] in the 20th centenary, Carive opened branches in Mestre (1910), Portogruaro (1911), Chioggia (1912) and Dolo (1913), the cities and towns in the modern Province of Venice. In 1987, Carive had 59 branches in the Province.[1] Since 1988, more branches were opened in the rest of Veneto region, as well as in Friuli.

Also due to Legge Amato, the daily bank operation, charity and ownership of the bank were separated as Società per azioni and Fondazione Cassa di Risparmio di Venezia in 1992.[2] In 1994, the bank merged with the saving bank of Padova and Rovigo, Gorizia, Udine & Pordenone and Banca Agricola di Cerea to form a single holding company Casse Venete Banca, despite the subsidiaries still operated as separate entity.

In 2000, Carive followed the parent company to merge with Casse Emiliano Romagnole Group to form Cardine Banca Group. In 2002, Carive followed the group to merge with Sanpaolo IMI. On 2 January 2007, Carive became part of Intesa Sanpaolo Group after another merger.

In 2014 the bank was absorbed into the parent company, as the parent company planned to reduce the brand of the group. All former branches of Carive now bear the name of Intesa Sanpaolo directly.

The last full year result of the bank were: revenue of €183.320 million, net profits of €49.943 million, total asset of €4.432 billion and equity of €415,219,718.[3]

Bank Foundation

The former owner of the bank, 'Fondazione Cassa di Risparmio di Venezia or Fondazione di Venezia still held 0.33215% shares of Intesa Sanpaolo, or 0.35197% ordinary shares, as of 31 December 2013.[4]

See also

References

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  3. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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External links

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