Banca del Monte e Cassa di Risparmio Faenza

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Banca del Monte e Cassa di Risparmio Faenza
Native name
Banca del Monte e Cassa di Risparmio Faenza S.p.A.
Typeprivate Società per Azioni
IndustryFinancial services
Founded
Defunct1995 (S.p.A. only)
Fatemerger with C.R.B.M. Lugo
Successor
  • B.M.C.R. Faenza Foundation
Headquarters
Faenza
,
Italy
Servicesretail banking

Banca del Monte e Cassa di Risparmio Faenza was an Italian saving bank and a charity organization, based in Faenza, in the Province of Ravenna, Romagna. The banking activities was merged with counterparts from Lugo to form , while the charity function was survived as Fondazione Banca del Monte e Cassa di Risparmio Faenza.

Bank[]

The bank was found by local mount of piety, which itself was found in 1491. Due to , the bank transformed from a statutory corporation to a società per azioni, by incorporating Banca del Monte e Cassa di Risparmio Faenza S.p.A. as a subsidiary of the statutory corporation. At the same time the articles of association of the statutory corporation was modified to become a private legal person, as Fondazione Banca del Monte e Cassa di Risparmio Faenza, or Fondazione Monte Faenza in short). Cassa di Risparmio in Bologna (Carisbo) also subscribed the capital increase of the S.p.A.[2] At the same time the banking foundation of B.M.C.R. Faenza, subscribed a minority stake in Casse Emiliano Romagnole, the holding company of Carisbo, by injecting part of the stake of B.M.C.R. Faenza S.p.A. as capital.[2]

The S.p.A. was merged with to form in 1995.

Banking foundation[]

Fondazione Banca del Monte e Cassa di Risparmio Faenza was the owner of the bank since 1992 until the merger in 1995. After the merger the foundation was a shareholder of . In 1999 Banca di Romagna was merged with Cassa di Risparmio di Cesena (Carisp Cesena).[3] A new holding company, Unibanca, owned both Carisp Cesena and Banca di Romagna, while the foundation owned the share of Unibanca instead, for 6.877% stake.[4] In 2010 Carisp Cesena was absorbed by Unibanca, but Unibanca was renamed to Cassa di Risparmio di Cesena at the same time.[5]

As at 31 December 2015, the foundation still owned 6.462% stake in Carisp Cesena.[6] However, after Carisp Cesena suffered from huge write-down and provision for their bad loan, the bank was bail-out by the voluntary scheme of Fondo Interbancario di Tutela dei Depositi for €280 million in September 2016. 560 million new shares were issued, making the stake of B.M.C.R. Faenza Foundation was diluted to 0.31%, despite the foundation also received free warrants for additional new shares.

The foundation, as at 31 December 2015, also owned 0.010% of Cassa Depositi e Prestiti. The shareholders' equity of the foundation was €17,913,448. However, about half of the value was contributed by the value of the shares of Carisp Cesena.[7] The failure of the bank would affect the equity of the foundation in 2016.

The foundation was a member of Associazione di Fondazioni e di Casse di Risparmio S.p.A..

See also[]

  • Cassa di Risparmio di Ravenna, an operating bank from the provincial capital

References[]

  1. ^ "Storia" (in Italian). Fondazione Banca del Monte e Cassa di Risparmio Faenza. Archived from the original on 4 February 2016. Retrieved 4 February 2016.
  2. ^ Jump up to: a b Ministry of the Treasury (24 January 1992). "Approvazione del progetto di ristrutturazione presentato dalla Banca del Monte e Cassa di risparmio Faenza" (in Italian). Italian Republic Official Gazette. Retrieved 27 September 2016.
  3. ^ "Presentazione della Banca" (in Italian). Banca di Romagna. 23 October 2003. Archived from the original on 7 May 2006.
  4. ^ "2000 Bilancio" (PDF) (in Italian). Fondazione Banca del Monte e Cassa di Risparmio Faenza. 9 March 2010 [First published 2001]. Retrieved 27 September 2016.[permanent dead link]
  5. ^ "2010 Bilancio" (PDF) (in Italian). Cassa di Risparmio di Cesena. 14 June 2011. Retrieved 27 September 2016.[permanent dead link]
  6. ^ "2015 Bilancio" (PDF) (in Italian). Cassa di Risparmio di Cesena. 8 July 2016. Retrieved 28 July 2016.[permanent dead link]
  7. ^ "2015 Bilancio" (PDF) (in Italian). Fondazione Banca del Monte e Cassa di Risparmio Faenza. 31 March 2016. Retrieved 27 September 2016.[permanent dead link]

External links[]

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