Cassa di Risparmio del Friuli Venezia Giulia

Cassa di Risparmio del Friuli Venezia Giulia S.p.A.
Company type	Subsidiary
Industry	Banking
Founded	2003
Defunct	2018
Fate	Fully integrated into Intesa Sanpaolo
Headquarters	Gorizia, Italy
Area served	Friuli – Venezia Giulia
Key people	Paolo Baessato (Chairman), Stefano Baro (General Manager and Managing Director)
Products	Retail and corporate banking
Number of employees	874 (2017)
Parent	Intesa Sanpaolo

Cassa di Risparmio del Friuli Venezia Giulia S.p.A., commonly referred to as CariFVG, was an Italian savings bank based in Gorizia and primarily serving the Friuli – Venezia Giulia area. Functioning as a subsidiary of Intesa Sanpaolo until its full integration in 2018, the bank was founded in 2003 and specialized in retail and corporate banking, maintaining a branch network largely concentrated within its home region.

By the close of 2017, CariFVG had streamlined its branch presence to 88 offices and employed a workforce of 874. The institution reported total assets amounting to €4.872 billion and equity capital of €284 million for that year, although net profit dropped to €5 million from €11 million the previous year. Its Common Equity Tier 1 (CET1) ratio was a robust 14.7% at the end of 2017, indicating strong capital adequacy.

In terms of leadership, Paolo Baessato took over as chairman in May 2017, succeeding Giuseppe Morandini. During this time, Stefano Baro held the roles of general manager and managing director. Following the merger, CariFVG’s operations and financial results were incorporated into the overall strategic framework of Intesa Sanpaolo.

Cassa di Risparmio di Gorizia

Cassa di Risparmio di Gorizia was established in 1831 within Gorizia and Gradisca, then part of the Austrian Empire, by Count Giuseppe/Joseph (della Torre) von Thurn Hofer und Valsassina. In compliance with the Legge Amato, it created a joint-stock company subsidiary named Cassa di Risparmio di Gorizia S.p.A., while the original institution transitioned into the private foundation Fondazione Cassa di Risparmio di Gorizia (as per the Ministry of the Treasury decree in 1992).

Cassa di Risparmio di Udine e Pordenone

The roots of Cassa di Risparmio di Udine e Pordenone extend back to a mount of piety () founded in 1496 by Franciscan friar Domenico da Ponzone in the Republic of Venice. The initial savings bank () in Udine was founded in 1822 but soon ceased its activities.

In 1876, Cassa di Risparmio di Udine was reconstituted as an independent entity branching off from Cassa di Risparmio delle Provincie Lombarde. Following royal decree-law No.269 of 1927—which encouraged consolidation among smaller banks—it absorbed mounts of piety located in San Daniele del Friuli and Cividale del Friuli. In 1942, during World War II, Monte di Credito su Pegno di Udine merged into this savings bank.

The name changed to Cassa di Risparmio di Udine e Pordenone in 1968, coinciding with the creation of Pordenone Province. In 1991, by ministerial decree, Cassa di Risparmio di Udine e Pordenone S.p.A. was established, with the original statutory corporation becoming Fondazione Cassa di Risparmio di Udine e Pordenone (currently known as Fondazione Friuli). The newly formed company immediately recapitalized, with Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona acquiring a 25% ownership interest.

As subsidiaries of Casse Venete Banca

The foundations behind these two savings banks, together with those from Venice and Padova–Rovigo, jointly created the holding company Casse Venete Banca. This entity merged with Casse Emiliano Romagnole in 2000 to form Cardine Banca, which subsequently merged into Sanpaolo IMI in 2002. Throughout these changes, both savings banks continued operating as distinct subsidiaries.

History

Friulcassa S.p.A. Cassa di Risparmio Regionale came into existence on 1 December 2003 as a result of the consolidation of two regional savings banks. In 2007, the institution adopted the new name Cassa di Risparmio del Friuli Venezia Giulia S.p.A.. That same year, the parent company Sanpaolo IMI merged with Banca Intesa, which led to the divestiture of its subsidiary FriulAdria to Crédit Agricole to resolve shareholder disputes and address competition within the regional market. Nevertheless, the group faced a two-year restriction on establishing new branches in the provinces of Udine and Gorizia.

Subsequently, on 22 December 2017, after Intesa Sanpaolo acquired Banca Popolare di Vicenza and Veneto Banca, it declared the complete integration of Cassa di Risparmio del Friuli Venezia Giulia into its own branch network.

References

general

specific

External links