Traded as BIT: CRG Headquarters Genoa, Italy Total assets 38.31 billion EUR (2014) | Industry Bank Founded 1483, Genoa, Italy Total equity 1.765 billion EUR (2014) | |
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Type listed Società per azioni Key people Giuseppe Tesauro, Chairman
Guido Bastianini, CEO Services Retail, Commercial, Investment, Private banking, Asset management Net income (€543.591 million) (2014) Stock price CRG (BIT) € 0.26 -0.02 (-5.49%)1 Mar, 4:48 PM GMT+1 - Disclaimer | ||
Banca Carige ("Banca" meaning bank and being an acronym for "Cassa di Risparmio di Genova e Imperia") is the largest bank in Liguria and one of the main banks in Italy. It was founded in 1483 in Genoa.
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The bank's main shareholder was Fondazione Carige. However the banking foundation withdrew in 2015.
According to the annual report for 2013, the bank's main sources of income were from the Liguria region, followed by Lombardy, Tuscany, and ten other regions out of the twenty in present-day Italy.
History
In 1483 the Blessed Angelo da Chivasso, a Franciscan, founded the Monte di Pietà of Genoa. In 1846, a decree of King Carlo Alberto created the Cassa di Risparmio di Genova, which extended the basic financial services of the Monte di Pietà of Genoa to encourage and protect small savings more widely. In the 19th century, the bank expanded into western Liguria, and in 1967 it became the Cassa di Risparmio di Genova e Imperia. In 1991 the bank, as a statutory corporation, was split into Banca Carige S.p.A. and Fondazione Carige, forming Banca Carige Group 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. 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. 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 want to sue the old managers for mismanagement by selling the insurance companies, claiming it actually harmful to the bank instead of gain. In mid-2015, subsidiaries Cassa di Risparmio di Savona (with 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 CarigeToday
The Gruppo Banca Carige is now one of the largest banks in Italy which offers banking, finance, pension fund and insurance solutions.
It has 587 branches (2016 data) distributed over 13 Italian regions with one branch in France (Nice) and more than two million customers.
In September 2013, Banca d'Italia (the Central Bank of Italy) 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. Banca d' Italia demands from Carige a new business plan by the end of October.
The Gruppo Banca Carige is (as of January 2013) a financial group composed by:
Major shareholders
Main shareholders of Gruppo Banca Carige:
Data reported 30/09/2010
Data reported 30/06/2011
Data reported 30/09/2012
Data reported 30/09/2013
Data reported 31/12/2013
Data reported 04/08/2014
Data reported 13/05/2015
Data reported 31/12/2015
Note: Fondazione Carige < 2%