Cassa di Risparmio di Civitavecchia

Cassa di Risparmio di Civitavecchia

Company type	S.p.A.
Industry	Banking
Founded	1847
Fate	Integrated into Intesa Sanpaolo in 2015
Headquarters	Civitavecchia , Italy
Parent	Intesa Sanpaolo (from 2008)

Cassa di Risparmio di Civitavecchia (Cariciv) operated as an Italian retail banking institution headquartered in Civitavecchia, within the Metropolitan City of Rome Capital. In 2015, it was integrated into its parent corporation, Intesa Sanpaolo, alongside two additional subsidiaries from the Lazio region: Rieti and Viterbo. The Fondazione Cassa di Risparmio di Civitavecchia, which was created in 1992 to handle the bank's philanthropic activities separately, continued its operations as of 2016.

History

The origins of banking in Civitavecchia can be traced to the local mount of piety. The savings bank () was established in 1847 under the authority of Pope Pius IX during the time of the Papal States. Its inaugural president was Father Felice Guglielmi, with financial backing provided by the local chamber of commerce and municipal authorities.

Following the enactment of the 1992 Legge Amato, the entity was divided into Cassa di Risparmio di Civitavecchia S.p.A. (a joint-stock company) and its associated foundation, Fondazione Cassa di Risparmio di Civitavecchia. At that juncture, Banca di Roma acquired a 28.57% shareholding. Subsequently, majority ownership passed to Banca CR Firenze (Florence Saving Bank), which augmented its stake by 11% around 2000 for roughly €16 million. The foundation maintained a 49% holding until 2014.

In 2008, Cariciv became part of Intesa Sanpaolo following the merger involving Banca CR Firenze. By December 2014, Intesa Sanpaolo purchased the remaining 49% stake for €52 million as part of a strategy to consolidate the group's corporate structure. Simultaneously, regulatory reforms required banking foundations to diversify their portfolios by capping any single investment at less than one-third of total assets; at the close of 2013, Cariciv shares accounted for 46.66% of the foundation's asset base.

The year 2015 saw Cariciv and other regional subsidiaries fully absorbed into Intesa Sanpaolo. As reported on 31 December 2014, Cariciv's shareholders’ equity amounted to €76.18 million.