Cassa di Risparmio di Alessandria
| Company type | Società per azioni |
|---|---|
| Industry | Banking |
| Founded | August 21, 1838 in Alessandria, Kingdom of Sardinia |
| Defunct | 2012 |
| Fate | Integrated into Banca Popolare di Milano |
| Headquarters | Alessandria , Italy |
| Products | Banking services |
Cassa di Risparmio di Alessandria was a regional Italian bank headquartered in Alessandria, Piedmont, which was integrated into its parent entity, Banca Popolare di Milano, in 2012.
Its previous proprietor, Fondazione Cassa di Risparmio di Alessandria, remains active as a philanthropic institution.
History
The bank was established on 21 August 1838 within the Kingdom of Sardinia. In 1991, its business activities and ownership were separated into a società per azioni and the Fondazione Cassa di Risparmio di Alessandria. At that time, Istituto Mobiliare Italiano participated in a capital increase of 23 billion lire, acquiring an 11.33% equity share. By 1995, it joined forces with savings banks from Spezia and Carrara to create "Carinord Holding," where the foundations alongside Cassa di Risparmio delle Provincie Lombarde (Cariplo) held shares; however, each bank continued to operate as an independent subsidiary.
In 2002, CR Alessandria withdrew from this alliance; the Foundation CR Alessandria and Cariplo collectively controlled 80% via "Carinord 1 SpA," a joint venture equally owned by both parties, with the foundation directly holding an additional 20%, resulting in a combined 60% stake. The following year, Intesa Sanpaolo (formerly Cariplo) divested its shares to Banca Popolare di Milano. The foundation maintained minority holdings in Banca Popolare di Milano and its group companies, along with a 20% share in CR Alessandria. On 11 February 2012, CR Alessandria was merged into Banca di Legnano, a subsidiary of Banca Popolare di Milano, which itself was subsequently absorbed in 2013.
CR Alessandria also possessed minority interests in Cassa di Risparmio di Tortona, originally acquired from Cassa di Risparmio di Torino. After the transactions in 2003, these shares were transferred to the foundation of CR Alessandria.
Bank Foundation
Fondazione Cassa di Risparmio di Alessandria continues its mission as a charitable foundation. In 2006, it disposed of its minority interest in Cassa di Risparmio di Tortona to Banca Regionale Europea, a subsidiary of Banca Lombarda e Piemontese, for €38.5 million. As reported on 31 December 2013, the foundation's net assets amounted to €311.6 million. Additionally, it held minority stakes including 39,932 shares in Cassa Depositi e Prestiti and a 0.506% ownership in Banca Popolare di Milano.
See also
- Alessandria Challenger, a tennis event sponsored by the bank