Cassa di Risparmio di Venezia
| Company type | Subsidiary (former) |
|---|---|
| Industry | Banking |
| Predecessor | Banco Pignoratizio Comunale (1806) |
| Founded | February 12, 1822 in Venice, Veneto, Italy |
| Defunct | 2014 |
| Fate | Absorbed into Intesa Sanpaolo |
| Successor | Intesa Sanpaolo |
| Headquarters | Venice , Italy |
Area served | Veneto, Friuli |
| Products | Savings bank services |
| Owner | Intesa Sanpaolo (at time of absorption) |
| Parent | Intesa Sanpaolo |
Cassa di Risparmio di Venezia S.p.A. (commonly known as Carive or CR Venezia) was an Italian savings bank headquartered in Venice, Veneto, operating as a subsidiary of Intesa Sanpaolo. Its previous proprietor, the Fondazione di Venezia, continues to function as a philanthropic entity.
History
The origins of banking reform in Venice trace back to Napoleonic Italy with the establishment of the Banco Pignoratizio Comunale in 1806, which followed the mount of piety framework. Subsequently, in 1820, the Kingdom of Lombardy–Venetia implemented the savings bank () model, resulting in the foundation of Cassa di Risparmio di Venezia on 12 February 1822.
Throughout the 20th century, Carive grew its presence by opening branches in Mestre (1910), Portogruaro (1911), Chioggia (1912), and Dolo (1913). By 1987, the bank operated 59 branches within the Province of Venice and later extended its network across the Veneto region and into Friuli.
Following the , banking operations and ownership were separated in 1992 into a società per azioni and the banking foundation Fondazione Cassa di Risparmio di Venezia. In 1994, Carive merged with savings banks from Padova and Rovigo, Gorizia, Udine & Pordenone, along with Banca Agricola di Cerea to create the holding company Casse Venete Banca, while maintaining individual subsidiaries.
In 2000, Carive became part of the merger that established the Cardine Banca Group, which was subsequently integrated into Sanpaolo IMI in 2002. On 2 January 2007, it was incorporated into Intesa Sanpaolo. The bank was fully absorbed by Intesa Sanpaolo in 2014 during a brand unification process; all former Carive branches now operate under the Intesa Sanpaolo brand.
In its last complete fiscal year, Carive posted €183 million in revenue, €50 million net profit, total assets amounting to €4.432 billion, and equity of €415 million.
Banking foundation
The former proprietor, Fondazione Cassa di Risparmio di Venezia (also known as Fondazione di Venezia), held a stake of 0.33215% in Intesa Sanpaolo shares (0.35197% ordinary shares) as of 31 December 2013.
See also
- Banca Popolare di Venezia
- Cassa di Risparmio del Veneto, subsidiary of Intesa Sanpaolo
- Cassa di Risparmio del Friuli Venezia Giulia, subsidiary of Intesa Sanpaolo