Jump to content

Cassa di Risparmio della Marca Trivigiana

From Alfawiki
Cassa di Risparmio della Marca Trivigiana
Company typeSocietà per azioni (former)
IndustryBanking
PredecessorMonte di Pietà di Treviso (1496)
Founded1822 (initial spin-off), re-established 1907
FounderMonte di Pietà di Treviso
Defunct2002
FateMerged into UniCredit
SuccessorUniCredit
Headquarters
Treviso
,
Italy
Area served
Province of Treviso, Veneto, Italy
Key people
Dino De Poli (former chairman), Antonio Romano (former chairman)
ProductsSavings bank services
ParentUniCredito Italiano (from 1998)

Cassa di Risparmio della Marca Trivigiana, widely recognized as Cassamarca, was an Italian savings institution based in Treviso, Veneto. Its roots extend back to 1496 with the foundation of the charitable entity Monte di Pietà di Treviso. The savings bank itself was formally established by this Monte in 1907, following an initial spin-off in 1822 which was later incorporated in 1872 by Cassa di Risparmio delle Provincie Lombarde.

In 1992, pursuant to the , Cassamarca divided into two separate bodies: the commercial banking company Cassamarca S.p.A. and the non-profit organization Fondazione Cassamarca – Cassa di Risparmio della Marca Trivigiana.[1] Two years later, in 1994, Cassamarca merged with Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona to create Unicredito, which subsequently combined with Credito Italiano in 1998, resulting in UniCredit. By 2002, the bank was fully incorporated into UniCredit; meanwhile, the foundation persisted as a philanthropic entity, holding a 0.23% share in UniCredit as of December 31, 2016.

Monte di Pietà di Treviso

The Monte di Pietà di Treviso was a mount of piety () established in 1496 by Franciscan friar Domenico da Ponzone within the Republic of Venice, coming 34 years after Italy’s earliest recorded mount founded in Perugia. The mount initiated the creation of Treviso’s savings bank twice—first in 1822 and again in 1907. Following two spin-offs, it reunited with the savings bank in 1942. From 1935 onward, it was also referred to as Monte di Credito su Pegno di Treviso.

The mount's premises were adorned with decorative elements and murals by artists such as Lodewijk Toeput ().

Cassa di Risparmio di Treviso

The initial savings bank () of Treviso was founded by the local mount of piety in 1822 during the Kingdom of Lombardy–Venetia under Austrian rule. Comparable institutions were also created by the Austrian administration across Veneto cities and Lombardy—including Venice, Verona, Vicenza, Rovigo, and Padua. Notably, Erste Group’s Vienna-based savings bank had been established earlier in 1819.

Following Italy’s unification in 1866, the savings bank gained autonomy but aligned itself with Cassa di Risparmio delle Provincie Lombarde (Cariplo) in 1868. To comply with the decree-law enacted that year, its assets and liabilities were transferred to Cariplo’s branch located in Treviso by 1872.

Cassa di Risparmio della Marca Trivigiana

In 1907, the Treviso savings bank was reconstituted as Banco dei Depositi a Risparmio del Monte di Pietà di Treviso; it separated from the mount in 1913 under the name Cassa di Risparmio della Marca Trivigiana. The term Marca Trivigiana refers to the historic region surrounding Treviso.

Following royal decree-law No.269 issued in 1927, the savings bank expanded by acquiring Cassa di Risparmio di Castelfranco Veneto in 1928, encouraged by legislation promoting consolidation among smaller savings banks. In 1938, Banca Popolare di Asolo was also absorbed. During World War II, the local mount of piety merged with the savings bank in 1942, alongside similar institutions from Asolo (1941), Castelfranco Veneto (1942), and Vittorio Veneto (1949).

A report from Mediobanca placed the bank at rank 74 nationwide by total assets among Italian commercial banks as of 1988.

Cassamarca S.p.A.

In response to the Legge Amato reform enacted in 1992, Cassamarca underwent a division into a società per azioni and an associated banking foundation, establishing an initial share capital of 270 billion Italian lire.

This legislation spurred significant consolidation within Italy's banking industry, particularly across the Veneto region, which facilitated the rise of prominent banking entities such as UniCredit, Banca Intesa, and Sanpaolo IMI. As part of this consolidation process, the Cassamarca brand was eventually phased out.

An amendment introduced in 1994 prohibited foundation board members from holding positions on bank boards; nevertheless, Dino De Poli, who was serving as Cassamarca’s chairman at the time, was granted a temporary exemption. That same year, Cassamarca partnered with Cariverona Banca—whose largest shareholder was Fondazione Cariverona—to help establish the banking group Unicredito. The merger had initially been announced in 1993. By 1995, Cariverona formed an alliance with Cassa di Risparmio di Torino (Banca CRT), both recognized as leading savings banks according to Mediobanca’s 1989 analysis. Their main competitors included Cariplo in Lombardy and the merged Casse Venete Banca within Veneto.

Data from the Bank of Italy indicates that prior to its merger with Cariverona, Cassamarca commanded a 24.59% share of deposits in the province of Treviso as of 1994.

Cassamarca expanded its portfolio by acquiring minority holdings in Slovak bank Pol'nobanka in 1995 and in Bosnian Croat bank Hrvatska Banka Mostar in 1997.

In 1997, Banca CRT officially joined Unicredito; the following year, Unicredito merged with Credito Italiano, resulting in the formation of UniCredito Italiano (currently known as UniCredit). Dino De Poli continued as Cassamarca’s chairman following this merger until October 2000, when Antonio Romano—previously chairman of Treviso's Chamber of Commerce—assumed the position.

Cassamarca functioned as a subsidiary under UniCredito until 2002, when UniCredito Italiano consolidated seven sub-brands into UniCredit Banca and other divisions such as UniCredit Banca d'Impresa. As of December 31, 2001, Fondazione Cassamarca held an indirect stake of 2.801% in UniCredito Italiano through Cassamarca; immediately following the 1998 merger, its ownership had been 3.79%.

Equity investments

Banking foundation

Fondazione Cassa di Risparmio della Marca Trivigiana, commonly known as Cassamarca Foundation (), succeeded the bank as a charitable institution. As of , the foundation possessed equity amounting to €494 million and held a 0.23% shareholding in UniCredit (equivalent to 13,963,410 shares prior to the 2017 reverse stock split). Unlike other foundations such as Fondazione CRTrieste, it did not reduce the book value of its UniCredit shares. Its reported net loss also drew scrutiny from the Ministry of Economy and Finance.

Dino De Poli served as chairman for both management boards: and , with mandates extended through 2018 and 2020 respectively. Reports reveal that De Poli earned €10 million in compensation between 1992 and 2017. A reform enacted in 2016 by Associazione di Fondazioni e di Casse di Risparmio S.p.A. (ACRI) together with the Ministry introduced revised statutes requiring certain board members to be appointed by local authorities to ensure ongoing support for the Treviso area. In December 2016, professor Ulderico Bernardi was reaffirmed as vice-chairman. The board also includes professors Luca Antonini and Ferruccio Bresolin alongside local political figures Giovanni Squizzato and Ubaldo Fanton.

The foundation is counted among the 86 banking foundations affiliated with ACRI.

Formerly, it acquired the old San Leonardo Hospital along with nearby barracks to create a campus for both Ca' Foscari University of Venice and University of Padua. While supporting the Treviso campus development, it became involved in a dispute regarding staff salary payments with Ca' Foscari University. In 2002, it founded the Australasian Centre for Italian Studies (ACIS) in partnership with the University of Western Australia.

In 2012, Cassamarca entered into a financial agreement with Société Générale to subscribe to UniCredit's capital increase, thereby protecting its ownership percentage from dilution within the bank.

Subsidiaries

  • Appiani 1: Special Purpose Vehicle (SPV) created for the Area Appiani initiative
  • Teatri e Umanesimo Latino: SPV designated for the Palazzo Bortolan project

Real Estate

  • Casa Brittoni
  • Ca' dei Carraresi
  • Ca' Spineda
  • Former headquarters of Monte di Pietà di Treviso – repurchased from UniCredit in 2004

Art Collection

Housed within the former Monte di Pietà headquarters

  • Cristo deposto con angelo by Andrea Celesti (1701)
  • La moltiplicazione dei pani e dei pesci by Ludovico Fiumicelli
  • Cristo Morto con angeli by Sebastiano Florigerio
  • La morte della Vergine by Girolamo da Treviso (1478)
  • Madonna col Bambino e angeli by Lorenzo di Credi
  • I Profeti Geremia e Isaia by Bartolomeo Orioli (1614)
  • A collection of paintings by Lodovico Pozzoserrato, including Elia sfamato dal corvo, Il convito di Epulone, Agar e l'angelo, Il buon samaritano, Mose fa saturire l'acqua nel deserto, and Il ritorno del Figliuol prodigo

See also

Further reading

External links

  1. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named gazzettaufficiale1992
Retrieved from "https://www.alfawiki.org/index.php?title=Cassa_di_Risparmio_della_Marca_Trivigiana&oldid=88167"