Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona
| Company type | Società per azioni |
|---|---|
| Industry | Banking |
| Predecessor | Monte di Pietà di Verona |
| Founded | 1825 |
| Defunct | 2002 |
| Fate | Merged into UniCredit Banca |
| Headquarters | Verona , Italy |
Area served | Veneto, Marche |
| Products | Savings bank services |
| Parent | Unicredito (from 1994) |
Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona, commonly referred to as Cariverona, was an Italian savings bank based in Verona. Originating in 1825 as a branch of the Monte di Pietà di Verona (which was founded in 1490), it became a prominent institution within the regional banking landscape.
Following the enactment of the in 1991, the institution was divided into two separate entities: a commercial bank named Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona S.p.A., operating under the brand Cariverona Banca, and a non-profit organization called Fondazione Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona. In 1994, Cariverona merged with Cassa di Risparmio della Marca Trivigiana, resulting in the creation of Unicredito, which subsequently merged with Credito Italiano in 1998 to establish the banking group UniCredit.
Monte di Pietà di Verona
The Monte di Pietà di Verona, a monte di pietà founded by Franciscan Michele da Acqui in 1490 during the Republic of Venice era, served as the forerunner to Verona’s savings bank. Initially operating independently, it merged with the savings bank in 1947. The mount’s headquarters at 1 Piazzetta Monte functioned as the office for the banking foundation from 1993 until 1999.
History
Established in 1825 as Civica Cassa di Risparmio di Verona within the Kingdom of Lombardy–Venetia, this institution originated from the local mount of piety. It gained independence in 1892 before reintegrating with the mount in 1947.
A decree issued in 1927 aimed at consolidating smaller savings banks led to Cassa di Risparmio di Verona merging with multiple Veneto-based banks between 1927 and 1928. The bank’s name changed to Cassa di Risparmio di Verona e Vicenza in 1927 and later to Cassa di Risparmio di Verona, Vicenza e Belluno in 1939. Important acquisitions included Cassa di Risparmio di Vicenza (1822), Legnago (1893), Bassano del Grappa (1912), Banca del Monte di Feltre, and Cologna Veneta—all located within Veneto provinces. Branches of Monte di Credito su Pegno in Belluno and Bassano del Grappa were incorporated in 1948 and 1955 respectively. Additionally, assets from Cassa Rurale e Artigiana di Isola Rizza were acquired in 1946.
The bank served as the primary savings institution for the provincial capitals of Verona, Vicenza, and Belluno; meanwhile, other Veneto provincial capitals maintained separate savings banks affiliated with Intesa Sanpaolo or UniCredit’s predecessors.
In 1989, expanding its reach into Marche through a merger with Cassa di Risparmio di Ancona, the bank adopted its extended name: Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona. At that time, it was recognized as Italy’s fourth largest savings bank by deposit volume according to La Repubblica. A Mediobanca analysis from 1988 placed it twentieth among all commercial banks by total client deposits, trailing behind Cariplo (a forerunner of Intesa Sanpaolo), Banca CRT (a UniCredit predecessor), and Cassa di Risparmio di Roma (which later became part of Capitalia).
Cariverona Banca S.p.A.
In December 1991, prompted by , the bank underwent a division resulting in a società per azioni that continued banking operations and a foundation responsible for legal and philanthropic functions.
Both organizations collaborated to establish the Unicredito banking group in 1994, with Cariverona as a subsidiary and the foundation as a shareholder. This group also incorporated Cassa di Risparmio della Marca Trivigiana (Cassamarca) alongside its respective foundation.
According to data from Bank of Italy, prior to merging with Cassamarca, Cariverona held dominant deposit market shares: 38.35% in Verona, 25.23% in Vicenza, and an impressive 55.11% in Belluno during 1994.
In 1996, Cariverona expanded further by acquiring Monte di Credito su Pegno di Vicenza S.p.A. from its foundation, bolstering its presence within the region.
The Italian Competition Authority reported that Unicredito (operating as Cariverona within Marche) ranked third with an 11% deposit market share in Ancona Province during 1996.
In 1997, Cariverona divested its 12.6% stake in Banco Ambrosiano Veneto to Fondazione Cariplo, which later merged Banco Ambrosiano Veneto into Banca Intesa, one of UniCredit’s main competitors. That same year marked the integration of Cassa di Risparmio di Torino into Unicredito.
Following Unicredito’s merger with Credito Italiano in 1998, the foundation remained UniCredit’s largest shareholder (then known as UniCredito Italiano), holding a stake of 16.532% at the close of 2001.
On July 1st, 2002, Cariverona Banca consolidated with other subsidiaries to form UniCredit Banca along with additional UniCredit divisions.
Subsidiaries
- Cariverona Ireland (majority stake of 75%)
- Gestiveneto SGR (wholly owned)
- Quercia Software (entirely owned)
- Mediovenezie Banca (previously held)
Equity investments
- Autostrada Brescia Verona Vicenza Padova (holding 20.30%)
- Compagnia Investimenti e Sviluppo (4.00% ownership)
- (2.54% stake)
- Società per l'Autostrada di Alemagna (ownership of 8.24%)
- Veneto Sviluppo (10.98% share)
- formerly associated
See also
- Banca delle Marche, reconstituted in 2015 and merged into UBI Banca by 2017
- Cassa di Risparmio di Jesi, the predecessor institution to Banca delle Marche
- Banca Popolare di Ancona, which preceded UBI Banca
- Banca Popolare della Provincia di Belluno, later acquired by Banca Popolare di Vicenza
- Banca Popolare di Verona, the forerunner of Banco Popolare (now Banco BPM)
- Banca Popolare di Vicenza, liquidated from 2017 with assets taken over by Intesa Sanpaolo
- Cardine Banca, purchased by Sanpaolo IMI in 2002
- Casse Venete Banca, the antecedent to Cardine Banca
- Cassa di Risparmio del Veneto, an Intesa Sanpaolo subsidiary and founding member of Casse Venete Banca
- Cassa di Risparmio di Venezia, transformed into Intesa Sanpaolo branches since 2014
- Casse Venete Banca, the antecedent to Cardine Banca
External links
- (redirects to UniCredit official site)
- Official website of Fondazione Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona