Cariparma

Cariparma

Native name	Cassa di Risparmio di Parma e Piacenza S.p.A.
Type	Subsidiary and limited company (Società per azioni)
Industry	Financial services
Headquarters	Parma, Italy
Key people	Ariberto Fassati (chairperson)
Services	Retail and corporate banking
Profit	€220.636 million (2015)
Total assets	€51.373 billion (2015)
Total equity	€4.924 billion (2015)
Owner	Crédit Agricole S.A. (75%) Fondazione Cariparma (15%) Sacam International (10%)[1]
Parent	Crédit Agricole S.A.
Subsidiaries	Carispezia (80.00%) FriulAdria (80.17%) Crédit Agricole Leasing Italia (85.00%)
Capital ratio	11.4% (CET1)
Website	http://www.cariparma.it/ http://www.gruppocariparma.it/
Footnotes / references in consolidated basis[2]

Cassa di Risparmio di Parma e Piacenza S.p.A. known as Cariparma in short, is an Italian bank group, itself a subsidiary of French banking group Crédit Agricole, thus the banking group also refer as Cariparma Crédit Agricole Group. Cariparma Group along was ranked as the 10th largest bank in Italy as of 2013.^[3] The group serving Emilia-Romagna, Liguria and Friuli-Venezia Giulia, where the predecessor originated, as well as Campania, Lazio, Lombardy, Piedmont, Tuscany, Umbria and Veneto, or half of Italian regions.

Despite not a Cariparma subsidiary but sister company within Crédit Agricole Group, Crédit Agricole Vita places its product through Cariparma banking network.

History

Cassa di Risparmio di Parma was formed in 1860.^[4] It merged with other regional bank in the two decades, eventually 10th largest bank in Italy in 2013. In 1960 the bank merged with Monte di Credito su Pegno di Busseto (Mount of Piety of Busseto).

In 1991, due to the reform of Italian banking system, two entity was formed, namely Fondazione Cassa di Risparmio di Parma e Monte di Credito su Pegno di Busseto (Fondazione Cariparma) and Cassa di Risparmio di Parma SpA, which the former served as a non-profit parent entity.^[5][6] In 1992 it acquired Banca Emiliana.^[7] In 1993, the bank merged with Cassa di Risparmio di Piacenza e Vigevano,^[7] which Fondazione Cariparma held 52% shares of the new company Cassa di Risparmio di Parma e Piacenza S.p.A. only.^[7]

C.R. Piacenza e Vigevano itself was a merger of Cassa di Risparmio di Piacenza found 1860 and Cassa di Risparmio di Vigevano, found 1857.^[8]

In 1994 Cariparma acquired Credito Commerciale of Lombardy region from Monte dei Paschi di Siena. At that time Cariparma had a market share in deposit of 55.8% in the Province of Parma, 5.94% in the Province of Pavia, 1.40% in the Province of Mantua and Cremona, and 0.21% in the Province of Milan (including Monza), while Credito Commerciale had a market share of 0.13% in Parma, 4.77% in Pavia, 5.80% in Mantua, 16.94% in Cremona and 1.60% in Milan.^[9] In 2008, Cariparma still maintained a market share of 14% in the Province of Cremona.^[10]

Banca Intesa era

From 1998 to 2000 Banca Intesa gradually acquires the shares of Cariparma by exchanging the shares of Banca Intesa to Cariparma .^[11] The old "CR Parma & Piacenza" shareholder were Fondazione Cariparma, Fondazione di Piacenza e Vigevano (the parent entity of C.R. di Piacenza e Vigevano)^[12] and Società Bresciana di Partecipazioni Bancarie (a subsidiary of Banca Lombarda). In 1999, Banca Intesa reached 76.58% ownership^[13] and finally 100% in 2000. At the same time Banca Intesa also sold its minority share holding on Banca Monte Parma in August 1999 to Banca Monte dei Paschi di Siena, as well as"CR Parma & Piacenza" sold its holding in Cassa di Risparmio di Reggio Emilia for another merger.

In 1999, Mediocredito Padano was absorbed into Cariparma .^[14]

The era ended by the merger of Banca Intesa with Sanpaolo IMI, which trigger the sales of "CR Parma & Piacenza" to Crédit Agricole in 2007. In 2011 Intesa Sanpaolo increased the investment to the area by re-acquired Banca Monte Parma, the competitor of "CR Parma & Piacenza".

Crédit Agricole era

In 2006 Banca Intesa had a proposed merge with Sanpaolo IMI (eventually the formation of Intesa Sanpaolo). Despite Banca Intesa was formed from many merger by share exchange, French banking company Crédit Agricole was the major shareholder of Banca Intesa for 17.18%, followed by Fondazione Cariplo (9.22%), Generali Group (7.54%) and Fondazione Cariparma (4.30%).^[15] Right after the merger Crédit Agricole held 9.12% shares of the new entity on 2 January 2007, but on 22 January sold 3.6% of the shares for €2.506 billion.^[16] After the sales Crédit Agricole was the third largest shareholder.^[15]

On 1 March 2007, Crédit Agricole through Crédit Agricole S.A. (for 75%) and Sacam International (for 10%), partnered with Fondazione Cariparma (for 15%), acquired all shares of Cariparma for €3.8 billion.^[17] At the same time, Crédit Agricole also acquired Banca Popolare FriulAdria for €836.5 million from Intesa Sanpaolo, with 23.95% shares remain held by other shareholders, as well as 202 former Banca Intesa branches for €1.3 billion.^[17] After the sales, Cariparma immediately acquired Banca Popolare FriulAdria as its subsidiaries, as well as 173 of 202 of the aforementioned branches, and the remaining 29 branches were transferred to Banca Popolare FriulAdria.^[17] Also due to the transfer of 29 branches, Cariparma owned 78.68% of the shares of FriulAdria, with the rest remained in the others.^[16] At that time Cariparma owned 50% shares of Po Vita,^[16] which was renamed to Crédit Agricole Vita^[18] after Crédit Agricole Assurances acquired another 50% in 2008 from Fondiaria-Sai.^[19]

Despite acted as the second largest shareholder by 5.8% voting rights on 31 December 2009, Crédit Agricole listed Intesa Sanpaolo as disposable asset, at the same time, the two bank group agreed to transfer some branches to Crédit Agricole, which under the ownership of Cariparma in 2010 or 2011. In 2011 the transaction was completed, which Cariparma acquired Carispezia, as well as 96 branches directly from Intesa Sanpaolo (11 from Banca CR Firenze to Cariparma directly; 70 of remaining 85 branches to Cariparma directly and 15 to FriulAdria), for €740 million.^[20] At the same time in the first half of 2010, Crédit Agricole reduced the share holding on Intesa Sanpaolo to 4.79% of the total share capital (4.99% voting rights).^[21] Crédit Agricole finally sold all the shares on Intesa Sanpaolo in 2012, which Cariparma became the major arm of the group participation in Italy.

In April 2012 Crédit Agricole Assurances S.A. wholly owned CA Vita, bought all shares previously held by Cariparma .

Subsidiaries

Carispezia

Cassa di Risparmio della Spezia S.p.A. (Carispezia) was acquired in 2010 from Intesa Sanpaolo. In 2010 the bank group had 76 branches in Liguria, Tuscany and Emilia-Romagna. Fondazione Carispezia was the minority shareholder.

FriulAdria

Banca Popolare FriulAdria S.p.A. (FriulAdria) was acquired from Intesa Sanpaolo in 2007.

Crédit Agricole Leasing Italia

Crédit Agricole Leasing Italia S.r.l. (CALIT) was formed in 2008, which served as the lease finance arm of Crédit Agricole Group in Italy. Crédit Agricole acquired a subsidiary of Leasint, from Intesa Sanpaolo as the predecessor of CALIT.^[18] In September 2009 Crédit Agricole sold 85% shares of CALIT to Cariparma, with 15% retained by the parent company. Leasint itself was a product of merger.^[22]

See also

• Cassa di Risparmio in Bologna (Carisbo), a short lived sister company (January to February 2007) based in Bologna, Emilia-Romagna
• Banca Monte Parma, a defunct subsidiary of Intesa Sanpaolo

References

External links

• Cariparma Official website (Italian)
• Cariparma Crédit Agricole Group Official website (Italian)

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Related topics	List of banks in Italy Associazione Bancaria Italiana Associazione di Fondazioni e di Casse di Risparmio S.p.A. Associazione Nazionale fra le Banche Popolari Fondo Interbancario di Tutela dei Depositi