Cassa di Risparmio di Vercelli

Cassa di Risparmio di Vercelli was an Italian retail bank and charity organization, based in Vercelli, Piedmont. In 1991 it was split into Cassa di Risparmio di Vercelli S.p.A. and Fondazione Cassa di Risparmio di Vercelli. The former was merged with another Piedmontese bank Cassa di Risparmio di Biella in 1994.

C.R. Vercelli
Native name
Cassa di Risparmio di Vercelli
IndustryFinancial services
Fatemerger (S.p.A. only)
Successor
Founded
  • 1851
  • 1991 (S.p.A. and Fondazione)
Defunct1994 (S.p.A. only)
Headquarters
Vercelli
,
Italy

Bank

Cassa di Risparmio della Città e Provincia di Vercelli was formed by the royal decree on 19 August 1851.[1] Due to Legge Amato, it was split into Cassa di Risparmio di Vercelli S.p.A. and Fondazione Cassa di Risparmio di Vercelli on 23 December 1991 (gazetted on 24 January 1992).[2] In late 1994, the company was merged with Cassa di Risparmio di Biella, in a ratio of 26.2% (Vercelli) and 73.8% (Biella).[3]

Banking foundation

Fondazione Cassa di Risparmio di Vercelli was the owner of all of the share capital of the bank in 1992, for 35 billion lire par value. However, after the merger with C.R. Biella, the foundation only owned 26.2% of 235 billion lire share capital of Cassa di Risparmio di Biella e Vercelli (BiverBanca). The foundation further reduced the ownership as their investment in 1997 by selling around 14.4% shares of the bank to Banca Commerciale Italiana. After 2008 recapitalization of the bank, the foundation further reduced to own about 6% shares of the bank only.

As of 31 December 2014, the foundation had a minority ownership in Cassa Depositi e Prestiti, CDP Reti and BiverBanca. It had a shareholders' equity of €114,600,761.[4]

References
  1. "Origini" (in Italian). Fondazione Cassa di Risparmio di Vercelli. Retrieved 21 September 2016.
  2. "Approvazione del progetto di ristrutturazione presentato dalla Cassa di risparmio di Vercelli". Gazzetta Ufficiale (in Italian). 24 January 1992. Retrieved 16 February 2016.
  3. "CASSA DI RISPARMIO DI BIELLA E VERCELLI - S.p.a." Gazzetta Ufficiale (in Italian). 21 December 1994. Retrieved 16 February 2016.
  4. "BILANCIO DI ESERCIZIO AL 31 DICEMBRE 2014" (PDF) (in Italian). Fondazione Cassa di Risparmio di Vercelli. 30 April 2015. Retrieved 16 February 2016.

See also
other bank of the provincial capital of Piedmont
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