Cassa di Risparmio di Biella e Vercelli
| Company type | Società per azioni |
|---|---|
| Industry | Banking |
| Predecessor | Cassa di Risparmio di Biella, Cassa di Risparmio di Vercelli |
| Founded | 1994 |
| Fate | Acquired by Cassa di Risparmio di Asti in 2012 |
| Headquarters | Biella , Italy |
Area served | Piedmont, Aosta Valley |
| Products | Savings bank services |
| Owner | Cassa di Risparmio di Asti (since 2012) |
| Parent | Cassa di Risparmio di Asti |
Cassa di Risparmio di Biella e Vercelli S.p.A. (commonly known as BiverBanca) is an Italian savings institution with its main office located in Biella, within the Piedmont region. In 2012, ownership transferred to Cassa di Risparmio di Asti, a Piedmontese bank, which acquired it from Banca Monte dei Paschi di Siena. BiverBanca focuses its operations mainly across Piedmont and the Aosta Valley. Its branch network comprises 46 outlets in the Province of Biella (including 11 in the city of Biella), 46 in the Province of Vercelli (8 situated in Vercelli city), 10 locations in Turin, 6 in Novara, 3 in Alessandria, 5 throughout Aosta Valley, and single branches in both Verbano-Cusio-Ossola and Milan, Italy’s principal financial center.
The bank does not serve the Province of Asti—covered by its parent company—nor the Province of Cuneo.
Timeline
- 1994: The merger between Cassa di Risparmio di Biella and Cassa di Risparmio di Vercelli resulted in the creation of Cassa di Risparmio di Biella e Vercelli (BiverBanca). At this time, ownership was divided with C.R. Vercelli Foundation holding 26.2% and C.R. Biella Foundation controlling 73.8%.
- 1997: A majority share of 55% was acquired by Banca Commerciale Italiana from the banking foundations.
- 1999: The bank became part of the Banca Intesa Group.
- 2007: Banca Monte dei Paschi di Siena (BMPS) purchased BiverBanca from Intesa Sanpaolo for roughly €399 million; following this transaction, C.R. Biella Foundation maintained a 33.22% stake while C.R. Vercelli Foundation held 11.78%.
- 2008: A capital increase raised BMPS’s ownership to 59%, with C.R. Biella Foundation’s share at 35% and C.R. Vercelli Foundation’s at 6%.
- 2010: The bank expanded through acquisition of branches from affiliated institution Banca Antonveneta, adjusting ownership to BMPS (60.42%), C.R. Biella Foundation (33.44%), and C.R. Vercelli Foundation (6.14%).
- 2012: Cassa di Risparmio di Asti acquired a controlling interest of 60.42% from BMPS for approximately €205.5 million.
See also
- Cassa di Risparmio di Alessandria, currently integrated into Banco BPM
- Cassa di Risparmio di Cuneo, now part of UBI Banca
- Cassa di Risparmio di Torino, presently under UniCredit