Cassa di Risparmio di Pistoia e della Lucchesia

Cassa di Risparmio di Pistoia e della Lucchesia
Company type	Subsidiary
Industry	Banking
Founded	1831 (originally as Cassa di Risparmio di Pistoia)
Headquarters	Pistoia, Italy
Area served	Tuscany, Italy
Parent	Intesa Sanpaolo (via Banca CR Firenze)

'Cassa di Risparmio di Pistoia e della Lucchesia (translated as The Savings Bank of Pistoia and Lucchesia; commonly referred to as Caripistoia, Caript or CRPT) is a regional Italian bank based in Pistoia, Tuscany. It functions as a subsidiary under Banca CR Firenze, which itself is ultimately controlled by Intesa Sanpaolo.

History

The entity known as Cassa di Risparmio di Pistoia e Pescia was created in 1936 through the consolidation of Cassa di Risparmio di Pistoia (established in 1831) and the Pescia bank (dating back to 1840). Additionally, it absorbed Banca di Pistoia in 1932 and incorporated the Pistoia Mount of Piety in 1937.

Casse Toscane

Following the enactment of the Legge Amato, on 13 April 1992 the bank underwent restructuring, dividing into a joint-stock company and a non-profit organization named Ente Cassa di Risparmio di Pistoia e Pescia (subsequently renamed Fondazione Cassa di Risparmio di Pistoia e Pescia). At that point, saving shares accounted for roughly 17.7% of the equity. The foundation promptly divested approximately 51% to Holding Casse Toscane, a consortium that included Banca CR Firenze along with savings banks from Livorno, Lucca, Pisa, San Miniato, and Banca del Monte di Lucca. The foundation retained about a 10% interest in Holding Casse Toscane, resulting in an effective combined ownership stake near 36.4% in the bank (excluding saving shares), alongside minority holdings in other banking institutions. By 1995, CR Lucca, Livorno, Pisa, and Banca del Monte di Lucca formed a distinct banking group named Casse del Tirreno, leaving Florence, Pistoia–Pescia, and San Miniato within the Casse Toscane consortium.

Banca CR Firenze

In March 1998, the entities of Pistoia–Pescia and San Miniato were separated from Casse Toscane as Finanziaria CRPT and Finanziaria CRSM respectively. Later that year in November, Finanziaria CRPT—holder of 11,357,012 ordinary shares (approximately 50.39% of total share capital or 61.26% of ordinary shares; each valued at 10,000 lire)—was merged back into CR Pistoia–Pescia. By December 1999, Banca CR Firenze acquired a majority stake of 51% in ordinary shares, while the foundation maintained a minority position holding 9,083,498 shares at par value of 10,000 lire; this represented 49% of ordinary shares equivalent to 40.3% of total share capital as of 31 December 2001, including preferred shares. Due to this transaction, as of 31 December 2000 the foundation also possessed a 3.95% stake in Banca CR Firenze.

In 2005, Banca CR Firenze increased its ownership by purchasing an additional 9% of ordinary shares from the foundation for €32.5 million. As of 31 December 2006, the foundation still held 74,151,005 ordinary shares (constituting 40% of all ordinary shares) and 15,200,000 preferred shares (representing 38% of preferred shares), both at €0.63 par value (up from €0.52 in the previous year), equating to roughly 39.65% of total share capital.

Intesa Sanpaolo

On 29 January 2008, following Banca CR Firenze's integration into Intesa Sanpaolo, the Savings Bank of Pistoia and Pescia also became part of this banking group. In January 2012, the foundation divested 44,275,505 ordinary and saving shares—amounting to about 19.65% of total share capital—for approximately €84 million.

That same year saw the institution rebrand as Cassa di Risparmio di Pistoia e della Lucchesia, extending its branch presence beyond the Province of Pistoia into Lucca (expanding from ten to thirty-one branches) and Massa–Carrara (adding seven branches). This growth entailed transferring ownership of three branches in Pistoia along with all branches located in Florence (four), Prato (four), and Bologna (eleven) to affiliated companies within the group. Following these transactions, share capital rose from 225,377,500 to 272,771,873 shares; ownership was distributed with Banca CR Firenze holding a controlling stake at 74.883%, Intesa Sanpaolo owning 8.105%, and the foundation retaining a minority portion at 16.525%—all classified as golden shares—with preferred shares converted into ordinary ones.

As reported on 31 December 2014, the foundation additionally held a minor interest amounting to 0.01413% of Intesa Sanpaolo shares.

Sponsorship

The institution served as a sponsor for Pistoia Basket 2000.

External links