Cassa di Risparmio di Foligno
| Company type | Subsidiary (former) |
|---|---|
| Industry | Banking |
| Founded | 1857 in Foligno, Papal States |
| Defunct | 2012 |
| Fate | Merged into Casse di Risparmio dell'Umbria |
| Successor | Casse di Risparmio dell'Umbria |
| Headquarters | Foligno , Italy |
Area served | Umbria, Italy |
| Products | Banking services |
| Owner | Intesa Sanpaolo (majority before merger) |
| Parent | Intesa Sanpaolo (before merger) |
Cassa di Risparmio di Foligno, commonly known as Carifol, was a regional banking institution located in Foligno, Umbria, Italy. As a subsidiary of Intesa Sanpaolo, it joined forces with three other Umbrian savings banks in 2012 to establish Casse di Risparmio dell'Umbria.
History
Established in 1857 in Foligno, then part of the Papal States, the bank originally functioned as a charitable entity combining the roles of a mount of piety and a savings institution ().
Cariplo
In compliance with the 1992 Legge Amato, Carifol restructured by separating its commercial banking activities, philanthropic functions, and ownership into a joint-stock company and the banking foundation Fondazione Cassa di Risparmio di Foligno. Cassa di Risparmio delle Provincie Lombarde (Cariplo) initially acquired a 20% share, which was subsequently reduced to 18.34% by 1996.
Banca Intesa
By July 1999, Banca Intesa, successor to Cariplo, expanded its investment by purchasing an additional 47.1% stake from the foundation, culminating in a total ownership of 70.47% by the end of that year. Intesa integrated Carifol alongside four other central Italian savings banks under the intermediate holding entity Holding Intesa Centro, predominantly controlled by Intesa (97.63%), with minority interests retained by various banking foundations.
The group further grew with the inclusion of Ascoli in 2001 and Terni and Narni in 2003.
In 2007, Carifol became part of the newly established Intesa Sanpaolo Group. After Intesa Sanpaolo acquired Banca CR Firenze in 2008, the shares of Casse del Centro were transferred to Banca CR Firenze, which assumed the role of the new intermediate holding company.
Merger
In 2012, Carifol combined with three other former members of "Casse" Central Holding—Città di Castello, Spoleto, and Terni and Narni—to create Casse di Risparmio dell'Umbria. Among these, three were located in the Province of Perugia and one in the Province of Terni. As part of this consolidation, Intesa purchased the remaining shares held by the foundations. Prior to the merger, Banca CR Firenze owned 70.529% of Carifol in 2010 and acquired an additional 21.23% (7,233,756 out of 34,078,500 shares) from the foundation for €27.27 million in 2012, along with 4.59% (1,565,100 shares) from minority shareholders for approximately €5.9 million.
Sponsorship
The institution served as a sponsor for Foligno Calcio.
See also
- Banca dell'Umbria, the former Cassa di Risparmio of Perugia, Umbria, which was once a subsidiary of UniCredit