Cassa di Risparmio di Reggio Emilia
| Company type | S.p.A. |
|---|---|
| Industry | Banking |
| Founded | March 31, 1852 in Reggio Emilia, Italy |
| Founder | Pietro Manodori |
| Defunct | 1999 |
| Fate | Merged with Banca Popolare di Brescia to form Bipop Carire |
| Headquarters | Reggio Emilia , Italy |
Area served | Italy |
| Products | Banking services |
Cassa di Risparmio di Reggio Emilia S.p.A. (commonly known as Carire) was a banking institution located in Reggio Emilia, Italy. In 1999, it combined operations with Banca Popolare di Brescia.
Data from Mediobanca places the bank at 45th position in terms of customer deposits in 1998, with a total of €1,905 million.
History
The bank was established on 31 March 1852 by Pietro Manodori, who was serving as the president of Reggio Emilia's mount of piety (an institution dating back to around 1494). Its foundation was sanctioned by a decree issued by Francis V, Duke of Modena, the reigning Duke of Modena and Reggio at that time.
In compliance with Legge Amato, the institution separated its operational activities and ownership structure in 1991, creating a joint-stock company and a banking foundation. The initial share capital stood at 120 billion lire and rose to 183 billion lire (€94.5 million) by 1999.
The year 1999 marked Carire's merger with Banca Popolare di Brescia (Bipop), resulting in the formation of Bipop Carire, which was later incorporated into UniCredit in 2008. During the mergers involving Bipop Carire and Cariparma's integration into Banca Intesa, minority shareholder Cariparma sold its shares in Carire.