Cassa di Risparmio di Trieste

Cassa di Risparmio di Trieste was an Italian savings bank headquartered in Trieste that operated between 1842 and 2002.

Cassa di Risparmio di Trieste Banca
Formerly
Cassa di Risparmio di Trieste
IndustryFinancial services
Fatemerged to form single brand UniCredit
Successor
Founded
  • 1842[1]
  • 1992 (as S.p.A.)
  • 1996 (Croatia subsidiary)
Defunct2002
Headquarters
Trieste
,
Italy
Number of locations
52 (2001)
Area served
Italy and Croatia
€17million (2001)
Total equity€219million (2001)[2][3]
OwnerUniCredit (79.67%)
Websitewww.crtrieste.it

In 1992, as part of the Italian government restructuring of public credit institutions, known as the Legge Amato, the bank was split into three organizations: Cassa di Risparmio di Trieste - Banca S.p.A., its subsidiary in special credito and Fondazione CRTrieste.[4]

Cassa di Risparmio di Trieste - Banca S.p.A. joined newly formed banking group UniCredit in 1999. The bank, as a brand and subsidiary, survived within UniCredit until 2002 when it was merged with 6 other sub-brands to form UniCredit Banca and other divisions of UniCredit.

History

Founded in 1842 in the Imperial Free City of Trieste, in the Austrian Empire. The city later became the capital of the Austrian Littoral of the empire and belongs to the Kingdom of Italy since 1919. Since joined Italy, the bank merged with other savings bank such as bank from Postumia due to a decree-law enacted in 1927.[5][6] (Postumia belongs to Italy between the two world war, but now located in Slovenia.)

A report by Mediobanca, shown the bank was ranked 75th by total assets in 1988, among all type of commercial banks of Italy.[7]

In 1992, due to Legge Amato, the bank was split into two organizations, a società per azioni (s.p.a.) and a banking foundation.[4] At first the S.p.A. had a share capital of 220 billion lire.[4]

In 1998, The Economist credited the bank as "Italy's most successful international bank" for its cross-border banking subsidiary Trscanska Stedionica – Banka.[8] In the same year, a subsidiary, Cassa di Risparmio di Trieste Specialcredito, which specialize in credito fondiario[4] such as public works and medium-long term loan, was sold to Assicurazioni Generali,[9] which became Banca Generali.[10] Before the handover of the company, the medium-long term loan business was sold back to Cassa di Risparmio di Trieste.[9]

In 1999, the banking foundation sold the controlling interests of the bank (s.p.a.) to UniCredit. As of 31 December 2001, the foundation retained 20% shares of the S.p.A., as well as owned 0.79% shares of UniCredit. The foundation also owned a private equity fund "Fondo Gestiveneto 6", which was managed by Pioneer Investments of UniCredit group.[11]

In 2002 the S.p.A. was absorbed by Credito Italiano; the legal person of Credito Italiano then renamed into UniCredit Banca, as the new retail arm of the banking group. Several subsidiaries were also spin off from UniCredit Banca in 2003 as separate entities of the group.

The Croatian subsidiary of C.R. Trieste was merged into Zagrebačka banka, while C.R. Trieste Ireland was liquidated, as it was overlapped with UniCredit Bank Ireland (UniCredito Italiano Bank (Ireland) plc).[12]

Subsidiaries
As of 31 December 2001
  • C.R. Trieste Ireland Ltd. (99.99%)[3]:158
  • Cassa di Risparmio di Trieste – Banca d.d. Zagreb (Croatian: Trscanska Stedionica – Banka d.d. Zagreb, 83.95%)[3]:157
  • Cassa di Risparmio di Trieste – Specialcredito S.p.A. (former)

Equity investments
As of 31 December 2001

Banking foundation

After the bank became defunct, the charity function, as well as the bank's arts collection were survived as an organization Fondazione Cassa di Risparmio di Trieste or Fondazione CRTrieste. As of 31 December 2016, the foundation had an equity of €204 million. The foundation write-down the value of the shares of UniCredit its owned (17,444,018 number of shares before 2017 reverse stock split;[13] 0.282%), as well as the shares of Banca Mediocredito del Friuli Venezia Giulia (34,440,610 number of shares; 30.502%). In addition, the foundation owned 875,977 number of shares (0.256%) of Cassa Depositi e Prestiti as well as other investment, such as FriulAdria, Fincantieri (0.071%) and GEDI Gruppo Editoriale.[14]

gollark: "ITWAT <@485027179286102018> Is Totally Wrong About Tau.
gollark: πIWTTπ Is Worse Than Tau.
gollark: ∆IKOAGL∆ Is Kind Of A Greek Letter
gollark: GIRAGo(lang) Is Really Awful
gollark: TIAATIAA Is An Acronym.

See also

References
  1. "155 ANNI DI TRADIZIONE E DI SUCCESSI" (in Italian). Zagreb: Cassa di Risparmio di Trieste Banca d.d. Archived from the original on 2 February 1999. Retrieved 10 November 2017.
  2. "Bilancio Consolidato di Gruppo dell'esercizio 2000" (PDF) (in Italian). UniCredit. 2001. Retrieved 9 November 2017 – via Borsa Italiana.
  3. "Bilancio Consolidato di Gruppo dell'esercizio 2001" (PDF) (in Italian). UniCredit. 2002. Retrieved 9 November 2017 – via Borsa Italiana.
  4. Ministry of Treasury (7 August 1992). "Approvazione del progetto di ristrutturazione presentato dalla Cassa di risparmio di Trieste". Gazzetta Ufficiale (in Italian). Rome. Retrieved 10 November 2017.
  5. "REGIO DEORETO-LEGGE 10 febbraio 1927, n. 269" (PDF). Gazzetta Ufficiale (in Italian). 68 (58). 11 March 1927. pp. 1067–1070 – via Agenzia per l'Italia Digitale.
  6. "LEGGE 29 dicembre 1927, n. 2587 | Conversione in legge del R. decreto-legge 10 febbraio 1927, n. 269, recante modificazioni alle norme vigenti sull'ordinamento delle Casse ordinarie di risparmlose del Monti di pietà di 1ª categoria" (PDF). Gazzetta Ufficiale (in Italian). 69 (15). 19 January 1928. pp. 263–267 – via Agenzia per l'Italia Digitale.
  7. "TABELLA XIII: LE 560 PRINCIPALI AZIENDE E STITUTI DI CREDITO ITALIANI". Le principali società italiane (PDF). Milan: Mediobanca. 1989. p. 446. Retrieved 9 November 2017.
  8. "Borderline banking". Finance and Economics. The Economist. 346 (8061). 26 March 1998. p. 73. Retrieved 13 November 2017.
  9. "Provvedimento N°5707 (C3007B): Assicurazioni Generali / Cassa di Risparmio di Trieste Specialcredito" (PDF) (in Italian). Italian Competition Authority. 19 February 1998. Archived from the original (PDF) on 14 November 2017. Retrieved 13 November 2017.
  10. "profili societari: Banca Generali" (in Italian). Borsa Italiana. 26 March 2010. Archived from the original on 14 November 2017. Retrieved 14 November 2017.
  11. "2001 Bilancio" (PDF) (in Italian). Fondazione CRTrieste. 2002. Retrieved 10 November 2017 – via Associazione di Fondazioni e di Casse di Risparmio S.p.A. archive.
  12. "2004 Progetto di Bilancio" (PDF) (in Italian). UniCredit. 2005. Retrieved 14 November 2017 – via Borsa Italiana.
  13. "Reverse stock split of ordinary and savings shares" (Press release). Milan: UniCredit. 17 January 2017. Retrieved 13 November 2017.
  14. "2016 Bilancio d'esercizio" (PDF) (in Italian). Fondazione CRTrieste. 2017. Archived from the original (PDF) on 14 November 2017. Retrieved 13 November 2017.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.