Cassa di Risparmio della Provincia dell'Aquila
| Company type | S.p.A. |
|---|---|
| Industry | Banking |
| Founded | 1862 |
| Defunct | 2013 |
| Fate | Integrated into Banca Popolare dell'Emilia Romagna |
| Headquarters | L'Aquila , Italy |
| Products | Savings institution services |
| Parent | Banca Popolare dell'Emilia Romagna (final parent before integration) |
Cassa di Risparmio della Provincia dell'Aquila (Carispaq) was an Italian savings institution based in L'Aquila, Abruzzo. In 2013, it was integrated into its parent organization, Banca Popolare dell'Emilia Romagna.
The banking foundation established during the 1992 separation, Fondazione Cassa di Risparmio della Provincia dell'Aquila, continues its operations as a philanthropic entity.
History
Originally founded in 1859 within the Kingdom of the Two Sicilies, Cassa di Risparmio dell'Aquila commenced operations in 1862, shortly following the unification of Italy. The bank adopted the name Cassa di Risparmio della Provincia dell'Aquila (Carispaq) in 1955.
In compliance with Legge Amato, on 20 August 1992, the bank underwent restructuring to form Cassa di Risparmio della Provincia dell'Aquila S.p.A. alongside its banking foundation; this reorganization was officially published on 3 September. Banca di Roma obtained a 20% interest by participating in a capital increase amounting to 63 billion lire. Subsequently, in 1998, minority shares were acquired by La Fondiaria Assicurazioni.
Subsidiary status under Finbanche d'Abruzzo
Between 1999 and 2000, Finbanche d'Abruzzo S.p.A. assumed the role of sub-holding company for Carispaq S.p.A., controlling 82.5% of its shares. This sub-holding was jointly owned by Banca Popolare dell'Emilia Romagna (51.878%), La Fondiaria Assicurazioni (15.4%), and the banking foundation (32.72%). Additionally, Finbanche d'Abruzzo held a 48.142% stake in Banca Popolare di Lanciano e Sulmona, which had previously been directly managed by BPER. The foundation maintained a direct ownership of 17.5% in Carispaq. In 2004, Fondiaria-Sai divested its 15.4% interest in Finbanche d'Abruzzo and a 4.5% holding in Banca della Campania to BPER. Later that year, capital increases by both Finbanche d'Abruzzo and Carispaq resulted in the foundation increasing its stake to 25.991% in Finbanche d'Abruzzo while preserving its direct 17.5% shareholding in Carispaq.
Subsidiary status under BPER
In 2005, BPER purchased the remaining 25.991% of Finbanche d'Abruzzo shares from the banking foundation for approximately €73 million, thereby achieving full ownership. Following additional capital infusions, Finbanche d'Abruzzo's holding in Carispaq adjusted to 79.922% (from the previous 82.5%), with the foundation retaining 16.953%, and other shareholders owning 3.125%. Finbanche d'Abruzzo was ultimately merged into BPER in 2008.
In 2011, BPER initiated a public tender offer to acquire all outstanding minority shares of Carispaq; the foundation exchanged its remaining 11.853% stake for 1,915,453 newly issued BPER shares. The foundation proceeded to sell its final 5.1% interest in 2013 for about €7.26 million. That same year, both Carispaq and Banca Popolare di Lanciano e Sulmona were completely absorbed into BPER. According to Carispaq's last annual financial statement dated 31 December 2012, shareholders' equity stood at €196.8 million with a Tier 1 capital ratio of 9.37%.
See also
- Other Cassa di Risparmio entities from Abruzzo