Cassa di Risparmio di Prato
| Company type | S.p.A. |
|---|---|
| Industry | Banking |
| Founded | 1830 |
| Fate | Acquired and integrated into Banca Popolare di Vicenza |
| Headquarters | Prato , Italy |
| Owner | Fondazione Cariprato (former) |
Cassa di Risparmio di Prato S.p.A., commonly referred to as Cariprato or C.R. Prato, was a savings bank located in Prato, Tuscany, Italy. In 2003, it was acquired by Banca Popolare di Vicenza (BPVi), and by 2010, it had been completely integrated into BPVi, discontinuing its independent branding.
The previous proprietor, Fondazione Cariprato, maintained a 0.5% equity interest in BPVi as of December 2013. In January 2015, the foundation declared its intention to diversify its portfolio by decreasing its shareholding in BPVi.
History
Established in 1830 within the Grand Duchy of Tuscany, Cariprato gained autonomy from C.R. Firenze on 13 October 1882. It became the first institution to be rescued by the Fondo Interbancario di Tutela dei Depositi in 1988 when Banca Monte dei Paschi di Siena (Banca MPS) took over.
Following the enactment of the 1992 Legge Amato, Cariprato was divided into a limited company and Fondazione Cariprato. By 1995, the foundation held a 21% stake in the bank. In March 2003, Banca MPS sold its controlling 79% interest to BPVi for €411.2 million. The complete acquisition in 2010 resulted in the foundation receiving approximately 0.5% of BPVi shares along with cash exceeding €33 million in exchange for its remaining shares in Cariprato. This transaction also caused the transfer of Cariprato’s art collection to Vicenza, which led to protests within the local community.
Banking foundation
Fondazione Cassa di Risparmio di Prato (Fondazione Cariprato) currently functions as a charitable entity. The foundation encountered governance difficulties, notably failing to appoint a board of directors in 2013.
See also
- Palazzo degli Alberti, former headquarters
- other savings banks based in Tuscany's provincial capitals