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Banca Carige
Banca Carige S.p.A., historically known as Cassa di Risparmio di Genova e Imperia (Ca.Ri.Ge.) was an Italian bank based in Genoa, with more than 500 bank branches in Italy, prior to its acquisition by BPER Banca in February 2022. The predecessor of the bank, a mount of piety, was founded in 1483 in Genoa, the Republic of Genoa. Banca Carige and its subsidiaries were known as Banca Carige Group (Italian: Gruppo Banca Carige). The banking group was one of the large banking groups in Italy, and as such, was supervised by the European Central Bank. In 2017, the banking group had 529 branches throughout Italy, with one branch in Nice, France, about 37.2% of branches were located in the home region Liguria. In November 2022, Banca Carige was fully incorporated into BPER Banca and ceased to exist as a separate entity.
In 1483, the Franciscan religious Angelo Da Chivasso, founded the mount of piety (Italian: Monte di Pietà) of Genoa.[non-primary source needed] In 1846, a decree of Piedmont-Sardinia King Charles Albert of Sardinia created the Cassa di Risparmio di Genova,[non-primary source needed] which extended the basic financial services of the mount to encourage and protect small savings more widely.[citation needed] In the 19th century, the bank expanded into western Liguria, and in 1967, it became the Cassa di Risparmio di Genova e Imperia.[non-primary source needed] Imperia was the capital of the west-most province of Liguria region.
In 1991, due to Amato Law, the bank, as a statutory corporation, was split into Banca Carige S.p.A. and Fondazione Carige, forming Gruppo Banca Carige in the same year. The bank absorbed Istituto di Credito Fondiario della Liguria and Mediocredito Ligure. In January 1995, Banca Carige entered into the Borsa Italiana as a listed company. In 1997, the Gruppo Banca Carige acquired some insurance companies.
In 2000, Carige Vita Nuova Assicurazioni was created from Basilese Vita Nuova, while in 2002, Carige Assicurazioni was founded from Levante Norditalia. In 2000, the Banca Carige Group acquired the Cassa di Risparmio di Savona and the Banca del Monte di Lucca. Between 2000 and 2002, Carige completed three further acquisitions of branches from other banks: 21 branches from Banco di Sicilia, 61 from Banca Intesa group, and 42 from the Capitalia Group in Piedmont, Lombardy, Veneto, Emilia–Romagna, Tuscany, Lazio, Marche, Umbria, Apulia, and Sicily. In 2004, the bank strengthened its position in Tuscany with the acquisition of the Cassa di Risparmio di Carrara and founded Carige Asset Management SGR for the management of financial products. In 2004, the bank acquired the private bank Banca Cesare Ponti. In 2008, two further major acquisitions were completed: 79 branches from the Intesa Sanpaolo Group in Aosta Valley, Piedmont, Lombardy, Veneto, and Sardinia, and another 38 branches from the UniCredit Group in Lazio, Sicily, Emilia–Romagna, Veneto, and Umbria. In 2010, the bank acquired another 22 branches from Banca Monte dei Paschi di Siena.[non-primary source needed]
In September 2013, the Bank of Italy (Italian central bank) blamed Carige for using accountancy tricks and being in a difficult situation due to derivatives the bank had bought from Deutsche Bank. Carige published a statement to explain the event. The Bank of Italy demanded from Carige a new business plan by the end of October. In 2013, the bank sold its asset management subsidiary to ARCA SGR for €101 million.
In 2014, the bank sold its insurance subsidiaries Carige Assicurazioni and Carige Vita Nuova to investment funds managed by Apollo Global Management for €310 million (via Primavera Holdings S.r.l.). However, in 2016 the new board of directors wanted to sue the old managers for mismanagement by selling the insurance companies, claiming it was actually harmful to the bank instead of gain. However, the court rejected the lawsuit.
In mid-2015, subsidiaries Cassa di Risparmio di Savona (with second-tier subsidiary Immobiliare Carisa), Cassa di Risparmio di Carrara, Columbus Carige Immobiliare were absorbed into Banca Carige. In 2016 Banca Carige Italia was absorbed by Banca Carige.
Around 2015, Malacalza Investimenti replaced Fondazione Carige, as the largest shareholder of the bank.
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Banca Carige
Banca Carige S.p.A., historically known as Cassa di Risparmio di Genova e Imperia (Ca.Ri.Ge.) was an Italian bank based in Genoa, with more than 500 bank branches in Italy, prior to its acquisition by BPER Banca in February 2022. The predecessor of the bank, a mount of piety, was founded in 1483 in Genoa, the Republic of Genoa. Banca Carige and its subsidiaries were known as Banca Carige Group (Italian: Gruppo Banca Carige). The banking group was one of the large banking groups in Italy, and as such, was supervised by the European Central Bank. In 2017, the banking group had 529 branches throughout Italy, with one branch in Nice, France, about 37.2% of branches were located in the home region Liguria. In November 2022, Banca Carige was fully incorporated into BPER Banca and ceased to exist as a separate entity.
In 1483, the Franciscan religious Angelo Da Chivasso, founded the mount of piety (Italian: Monte di Pietà) of Genoa.[non-primary source needed] In 1846, a decree of Piedmont-Sardinia King Charles Albert of Sardinia created the Cassa di Risparmio di Genova,[non-primary source needed] which extended the basic financial services of the mount to encourage and protect small savings more widely.[citation needed] In the 19th century, the bank expanded into western Liguria, and in 1967, it became the Cassa di Risparmio di Genova e Imperia.[non-primary source needed] Imperia was the capital of the west-most province of Liguria region.
In 1991, due to Amato Law, the bank, as a statutory corporation, was split into Banca Carige S.p.A. and Fondazione Carige, forming Gruppo Banca Carige in the same year. The bank absorbed Istituto di Credito Fondiario della Liguria and Mediocredito Ligure. In January 1995, Banca Carige entered into the Borsa Italiana as a listed company. In 1997, the Gruppo Banca Carige acquired some insurance companies.
In 2000, Carige Vita Nuova Assicurazioni was created from Basilese Vita Nuova, while in 2002, Carige Assicurazioni was founded from Levante Norditalia. In 2000, the Banca Carige Group acquired the Cassa di Risparmio di Savona and the Banca del Monte di Lucca. Between 2000 and 2002, Carige completed three further acquisitions of branches from other banks: 21 branches from Banco di Sicilia, 61 from Banca Intesa group, and 42 from the Capitalia Group in Piedmont, Lombardy, Veneto, Emilia–Romagna, Tuscany, Lazio, Marche, Umbria, Apulia, and Sicily. In 2004, the bank strengthened its position in Tuscany with the acquisition of the Cassa di Risparmio di Carrara and founded Carige Asset Management SGR for the management of financial products. In 2004, the bank acquired the private bank Banca Cesare Ponti. In 2008, two further major acquisitions were completed: 79 branches from the Intesa Sanpaolo Group in Aosta Valley, Piedmont, Lombardy, Veneto, and Sardinia, and another 38 branches from the UniCredit Group in Lazio, Sicily, Emilia–Romagna, Veneto, and Umbria. In 2010, the bank acquired another 22 branches from Banca Monte dei Paschi di Siena.[non-primary source needed]
In September 2013, the Bank of Italy (Italian central bank) blamed Carige for using accountancy tricks and being in a difficult situation due to derivatives the bank had bought from Deutsche Bank. Carige published a statement to explain the event. The Bank of Italy demanded from Carige a new business plan by the end of October. In 2013, the bank sold its asset management subsidiary to ARCA SGR for €101 million.
In 2014, the bank sold its insurance subsidiaries Carige Assicurazioni and Carige Vita Nuova to investment funds managed by Apollo Global Management for €310 million (via Primavera Holdings S.r.l.). However, in 2016 the new board of directors wanted to sue the old managers for mismanagement by selling the insurance companies, claiming it was actually harmful to the bank instead of gain. However, the court rejected the lawsuit.
In mid-2015, subsidiaries Cassa di Risparmio di Savona (with second-tier subsidiary Immobiliare Carisa), Cassa di Risparmio di Carrara, Columbus Carige Immobiliare were absorbed into Banca Carige. In 2016 Banca Carige Italia was absorbed by Banca Carige.
Around 2015, Malacalza Investimenti replaced Fondazione Carige, as the largest shareholder of the bank.
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