Cassa di Risparmio di Jesi
| Company type | Società per azioni |
|---|---|
| Industry | Banking |
| Founded | 1844 |
| Defunct | 1995 |
| Fate | Acquired by Banca delle Marche |
| Headquarters | Jesi , Italy |
| Products | Savings bank services, Miniassegno distributor |
Cassa di Risparmio di Jesi S.p.A. (previously known as Cassa di Risparmio di Jesi) was an Italian savings bank headquartered in Jesi, located within the Province of Ancona in the Marche region. Its legacy is carried on by Fondazione Cassa di Risparmio di Jesi, which operates as a regional philanthropic institution.
The institution was once a distributor of Miniassegno.
History
Established in 1844 within the Papal States under the name Cassa di Risparmio in Jesi, it was initially formed as a società anonima. The bank subsequently transitioned into a private statutory entity without shareholders. In compliance with Italian banking reforms, it incorporated several smaller savings banks across Marche. During the 1980s, it sought to take over the insolvent Cassa di Risparmio di Ancona, but this acquisition was ultimately completed by Cassa di Risparmio di Verona, Vicenza e Belluno.
In 1992, the bank underwent reorganization into a società per azioni alongside the creation of a banking foundation. The Lombard financial institution Cassa di Risparmio delle Provincie Lombarde (Cariplo), which later became part of major Italian banking groups Banca Intesa and Intesa Sanpaolo, participated in a capital increase amounting to 66.67 billion lire (comprising 30 billion lire in share capital plus share premium). By 1995, the joint-stock company was acquired by Banca delle Marche through an all-share transaction. Banca delle Marche itself had been established in 1994 via a merger of other regional savings banks based in Macerata and Pesaro.
Banking foundation
As recorded on 31 December 2012, Fondazione Cassa di Risparmio di Jesi, inheriting the original bank’s role, held approximately 10% ownership in Banca delle Marche. The foundation maintained its investment concentration by subscribing to all capital increases to preserve its shareholding. In 2015, the Associazione di Fondazioni e di Casse di Risparmio S.p.A., representing former savings banks including Fondazione CR Jesi, entered into a memorandum of understanding (MoU) with Italy’s Ministry of Economy and Finance aimed at regulating foundation assets and encouraging diversification of investments. This agreement followed the initiation of administrative proceedings for Banca delle Marche in 2013.
Following the bank’s collapse in November 2015, shareholders and subordinated bondholders were subjected to a bail-in process, resulting in the National Resolution Fund becoming the sole proprietor of the newly restructured Nuova Banca delle Marche. Consequently, the foundation’s net worth declined sharply from €76.4 million to €11.0 million within one year, primarily due to write-downs on previous Banca delle Marche equity holdings. Additional assets comprised a minor stake in Cassa Depositi e Prestiti (0.002%), which had been diluted after capital increases, along with investments in Italian government securities such as "BTP Italia".
The foundation also actively promotes cultural initiatives by organizing art exhibitions throughout the Marche region.
Its main office remains situated in Palazzo Bisaccioni, a historic edifice that originally housed the bank’s headquarters.
See also
- Banca Popolare di Ancona, another Italian banking institution based in Jesi
External links
- Articles with short description
- Banks established in 1844
- 1844 establishments in the Papal States
- Banks established in 1992
- Italian companies established in 1992
- Banks disestablished in 1995
- Italian companies disestablished in 1995
- Defunct banks of Italy
- Companies based in Jesi
- Cariplo acquisitions
- Re-established companies
- Italian companies established in 1844