Cassa di Risparmio di Lucca Pisa Livorno

Cassa di Risparmio di Lucca Pisa e Livorno S.p.A.
Company type	Subsidiary
Industry	Banking
Founded	July 9, 1835; 191 years ago in Duchy of Lucca
Defunct	2011
Fate	Merged into Banco BPM group as a division and brand
Successor	Banco BPM (division)
Headquarters	Lucca, Italy
Area served	Tuscany, Italy
Products	Savings bank services
Owner	Banco Popolare (later Banco BPM)
Parent	Banco Popolare / Banco BPM

Cassa di Risparmio di Lucca Pisa e Livorno S.p.A. was an Italian savings bank headquartered in Lucca. It functioned as a subsidiary under Banco Popolare and currently operates as a division and brand within the Banco BPM group.

Cassa di Risparmio di Lucca

Founded on 9 July 1835 in the Duchy of Lucca, Cassa di Risparmio di Lucca underwent restructuring following the Legge Amato reform. On 7 April 1992, the institution was divided into a Società per azioni responsible for banking activities and a banking foundation dedicated to philanthropic endeavors. Shortly thereafter, the foundation sold roughly 51% of its shares to an intermediate holding company named "Holding Casse Toscane," which encompassed savings banks from Florence, Livorno, Pisa, Pistoia, San Miniato, and Banca del Monte di Lucca. CR Lucca retained close to an 18% stake in Holding Casse Toscane, resulting in the foundation directly holding about 49% of CR Lucca shares, or approximately 58.18% when combined.

In 1995, CR Pisa, Livorno, Lucca, and Banca Monte Lucca withdrew from Holding Casse Toscane to establish "Holding Casse del Tirreno," which concentrated on savings banks in the Tyrrhenian area.

Banco Popolare era

By 1999, these three savings banks became part of Banca Popolare di Lodi, with CR Lucca maintaining a 49.66% ownership. Throughout the early 2000s, Banca Popolare di Lodi restructured its holdings: in 2000, Casse del Tirreno operated as a subsidiary of ICCRI, itself controlled by Bipielle Partecipazioni—a subsidiary of Banca Popolare di Lodi; in 2001, Casse del Tirreno merged into ICCRI; in 2002, Bipielle Retail assumed the role of intermediate holding company; and by 2003, Pisa and Livorno were subsidiaries under Lucca, which was part of Reti Bancarie. By 2005, Pisa and Livorno were fully owned by Lucca, with Banca Popolare di Lodi holding direct control (20.93%) as well as indirect influence through Reti Bancarie (BPL owned 73.52% of Reti Bancarie; Reti Bancarie possessed 46.28% of Lucca).

Merger of CR Lucca, Pisa and Livorno

In 2006, Pisa and Livorno merged into the Saving Bank of Lucca, which was subsequently renamed Cassa di Risparmio di Lucca Pisa Livorno. The bank joined Banco Popolare in 2007. Banco Popolare acquired minority stakes from the banking foundations of Pisa (in 2008) and Livorno (in 2011) by exercising put options. In 2010, Banco Popolare completed a share exchange involving Credito Bergamasco with the CR Lucca foundation and paid €156.4 million in cash through another put option exercise. These transactions resulted in Banco Popolare becoming the sole shareholder and integrating the bank as a division within its group. As of 31 December 2010, the bank reported shareholders’ equity amounting to €1.197 billion.

Sponsorship

This banking division acted as a sponsor for A.S. Lucchese Libertas 1905.

Banking foundations

Fondazione Cassa di Risparmio di Lucca ranked as the second-largest shareholder of Banco Popolare, holding a 2.891% stake as of 31 December 2015, trailing only BlackRock acting on behalf of clients. The foundation also possessed a 20% share in Banca del Monte di Lucca alongside minority holdings in Cassa Depositi e Prestiti (0.984%), CDP Reti (0.094%), F2i SGR (2.241%), and various leading companies such as Intesa Sanpaolo (0.020%), Banca Monte dei Paschi di Siena (0.184%), Banca Carige (1.109%), Banca Mediolanum (0.041%), Cattolica Assicurazioni (0.324%), UnipolSai (0.148%), Assicurazioni Generali (0.052%), Enel (0.037%), Eni (0.027%), Atlantia (0.064%), Telecom Italia (0.07%), Snam (0.0899%), Terna (0.144%), among others, totaling equity near €1.2 billion.

Following Banco Popolare's merger with Banca Popolare di Milano in 2016 and its subsequent recapitalization, the foundation’s stake in the newly formed entity, Banco BPM, was diluted. The foundation also retains a significant collection of artworks.

Fondazione Pisa and Fondazione Livorno did not maintain investments within Banco Popolare.

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