Cassa di Risparmio del Veneto

Cassa di Risparmio del Veneto
CR Veneto
FormerlyCassa di Risparmio di Padova e Rovigo
Company typesubsidiary
IndustryFinancial services
Predecessor
  • Cassa di Risparmio di Padova
  • Cassa di Risparmio di Rovigo
Founded
  • 1822 in Padua
  • 1928 (merged with CR Rovigo)
  • 1992 (as a S.p.A.)
Defunct2018[1]
Fateabsorbed by Intesa Sanpaolo
Successor
Headquarters
Padua
,
Italy
Number of locations
Decrease 302 branches[2]: 14  (2016)
Area served
Venteo region
Key people
Gilberto Muraro[2]: 5 (chairman)
Renzo Simonato[2]: 5 (general manager)
Services
  • retail banking
  • corporate banking
Decrease €21 million[2]: 58  (2016)
Total assetsIncrease €16.694 billion[2]: 56  (2016)
Total equityIncrease €1.311 billion[2]: 60  (2016)
OwnerIntesa Sanpaolo (100%)
Number of employees
Decrease 3,354[2]: 14  (2016)
ParentIntesa Sanpaolo
Capital ratioIncrease 20.66% (CET1)[2]: 216 
RatingN/A (Moody's)[nb 1]
Websitewww.crveneto.it
Footnotes / references
source: 2016 Report for the situation at 31 December 2016[2]

Cassa di Risparmio del Veneto S.p.A., known as CR Veneto, was an Italian savings bank, headquartered in Padua, Veneto (Italian: Padova). It was a subsidiary of Intesa Sanpaolo.

History

The bank was one of the oldest savings bank of Italy, which in 1822[4] the government of Kingdom of Lombardy–Venetia introduced savings bank to Venice, Padua, Rovigo and other provincial capitals (such as Vicenza and Treviso). In 1928 the savings banks of Padua and Rovigo was merged to form Cassa di Risparmio di Padova e Rovigo (Cariparo),[4] due to a law enacted in December 1927 (converted a decree-law published in March 1927 into law).[5][6] Before the enactment, Federazione delle Casse di Risparmio di Padova e Rovigo was formed circa March 1927.[7]

In 1992, due to Legge Amato [it], the bank was split into Fondazione Cariparo and Cassa di Risparmio di Padova e Rovigo S.p.A..[8]

Casse Venete Banca

As opposed to the Savings Bank of Verona, Vicenza, Belluno and Ancona being merged with Treviso to form Unicredito, the owner of the Savings Bank of Padova & Rovigo, Venice, Gorizia, Udine & Pordenone and Banca Agricola di Cerea formed a single holding company Casse Venete Banca, although the subsidiaries still operated as separate entity, in 1994.

Cardine Banca

In 2000, Cariparo followed the parent company to merge with Casse Emiliano Romagnole Group to form Cardine Banca Group.

Sanpaolo IMI and Intesa Sanpaolo

In 2002, The Savings Bank of Padova & Rovigo followed the parent banking group to merge with Sanpaolo IMI. Banca Agricola di Cerea was absorbed into The Savings Bank of Padova & Rovigo on 1 June 2003.

On 2 January 2007, The Savings Bank of Padova & Rovigo became part of Intesa Sanpaolo Group after another merger. On 25 September 2008 the bank renamed to Cassa di Risparmio del Veneto.[4] Followed the closure of the Savings Bank of Venice, the Savings Bank of Veneto was the only oldest surviving Cassa di Risparmio of Italy, which other banks had either dropped Cassa di Risparmio in their name or ceased to be exist due to merger. However, in February 2018, Intesa Sanpaolo announced the 2018–2021 business plan, which would closed down most of their retail brands including Cassa di Risparmio del Veneto. Cassa di Risparmio del Veneto would cease to exist as a separate legal entity, becoming divisions and branches of the banking group instead.

Banking foundation

Main article: Fondazione Cariparo

Footnotes

  1. ^ The bank became a wholly owned subsidiary of Sanpaolo IMI since 2004, and did not issue separate financial products, thus no separate rating.[3]

References

  1. ^ "Intesa Sanpaolo: mergers of Group companies" (Press release). Intesa Sanpolo. 24 May 2018. Retrieved 15 July 2018.
  2. ^ a b c d e f g h i "2016 Bilancio" [2016 Annual Report] (PDF) (in Italian). Padua: Cassa di Risparmio del Veneto. 2017. Archived from the original (PDF) on 28 October 2017. Retrieved 28 October 2017.
  3. ^ "Rating Action: MOODY'S WITHDRAWS CASSA DI RISPARMIO IN BOLOGNA'S A3/P-1/C+ RATINGS AND CASSA DI RISPARMIO DI PADOVA E ROVIGO'S Aa3/P-1/B- RATINGS" (Press release). London: Moody's Investors Service. 26 August 2004. Retrieved 28 October 2017.
  4. ^ a b c "Cassa di Risparmio del Veneto". Intesa Sanpaolo. 16 December 2010. Retrieved 4 February 2016.
  5. ^ "REGIO DEORETO-LEGGE 10 febbraio 1927, n. 269" (PDF). Gazzetta Ufficiale (in Italian). Vol. 68, no. 58. Rome. 11 March 1927 [written on 10 February 1927]. pp. 1067–1070 – via Agenzia per l'Italia Digitale.
  6. ^ "LEGGE 29 dicembre 1927, n. 2587 | Conversione in legge del R. decreto-legge 10 febbraio 1927, n. 269, recante modificazioni alle norme vigenti sull'ordinamento delle Casse ordinarie di risparmlose del Monti di pietà di 1ª categoria" (PDF). Gazzetta Ufficiale (in Italian). Vol. 69, no. 15. Rome. 19 January 1928 [written on 29 December 1927]. pp. 263–267 – via Agenzia per l'Italia Digitale.
  7. ^ "REGIO DECRETO 10 febbraio 1927, n. 259 | Approvazione dello statuto della Federaziope delle Casse di risparmio di Padova e Rovigo" (PDF). Gazzetta Ufficiale (in Italian). Vol. 68, no. 57. Rome. 10 March 1927. p. 1055 – via Agenzia per l'Italia Digitale.
  8. ^ Ministry of the Treasury (21 December 1991). "Approvazione del progetto di ristrutturazione presentato dalla Cassa di risparmio di Padova e Rovigo" (in Italian). Italian Republic Official Gazette. Retrieved 18 February 2016.