Cassa di Risparmio di Torino
| Company type | Subsidiary |
|---|---|
| Industry | Banking |
| Founded | 1827 |
| Defunct | 2002 |
| Fate | Merged into Credito Italiano (later UniCredit Banca) |
| Headquarters | Turin , Italy |
| Products | Banking services |
| Parent | UniCredito (from 1997), UniCredito Italiano / UniCredit (from 1998) |
Banca Cassa di Risparmio di Torino S.p.A., commonly referred to as Banca CRT or Caritorino, was an Italian savings bank headquartered in Turin. Established in 1827, it was integrated into Unicredito in 1997. The following year, Unicredito merged with Credito Italiano to establish UniCredito Italiano, which later became UniCredit. Banca CRT was completely incorporated into its parent entity by 2002.
The previous proprietor, Fondazione Cassa di Risparmio di Torino (Fondazione CRT), held a 2.506% voting stake in UniCredit as of 31 December 2013, making it the seventh-largest shareholder. In 1999, Fondazione CRT ranked as UniCredit's second-largest shareholder, owning 14.228% of the ordinary shares.
History
Originating in the Kingdom of Sardinia with a foundation rooted in philanthropy, Cassa di Risparmio di Torino expanded its presence by acquiring several local banks located in Casale Monferrato, Pinerolo, and Ivrea prior to the 1950s. Following the banking reforms enacted in 1991, its operations were divided into Banca CRT S.p.A. and the banking foundation Fondazione CRT.
Throughout the 1990s, Banca CRT expanded further through acquisitions such as Banca Subalpina and Banco di Bergamo, while also maintaining minority holdings in regional savings banks across southern Piedmont and the Aosta Valley. By the mid-1990s, it had divested its minority shares in Cassa di Risparmio di Calabria e Lucania (Carical) and Cassa di Risparmio di Città di Castello.
On 30 September 1997, Banca CRT became part of Unicredito, a group that also included Cariverona Banca and Cassamarca. The merger between Unicredito and Credito Italiano in 1998 resulted in the creation of UniCredito Italiano, which fully owned Banca CRT until its eventual absorption in 2002. Among its subsidiaries were Banca Mediocredito di Torino (with a 63.26% stake as of 2000) and Casse e Assicurazioni Vita (40% ownership).
By the close of 2001, Banca CRT reported shareholders' equity amounting to €1.591 billion. On 1 July 2002, it was merged into Credito Italiano along with other regional savings banks; subsequently, Credito Italiano was renamed UniCredit Banca.