History Banca CR Firenze

1 history

1.1 casse toscane
1.2 listed company
1.3 privatization intesa sanpaolo

history

cassa di risparmio di firenze (the saving bank of florence) found on 30 march 1829. bank central saving bank of grand duchy of tuscany. however, bank such saving bank san miniato, had gained independent florence after establishment.

casse toscane

in 1992, due legge amato, banking operation , ownership separated società per azioni , banking foundation ente cassa di risparmio di firenze.

in 1992 bank formed common holding company casse toscane saving bank of florence, livorno, pisa, pistoia–pescia, san miniato , banca del monte di lucca. ente cassa di risparmio di firenze largest shareholders of holding company.

however, after 1996, holding company contained florence, pistoia–pescia , san miniato, 4 members banks withdrew form casse del tirreno. in 1998, shares of pistoia–pescia , san miniato sold banking foundations. year later, florence saving bank bought 51% shares of pistoia–pescia saving bank. significant interests of saving banks of civitavecchia , orvieto acquired in late 1990s. after multiple deals, banca cr firenze reached 51% ownership of civitavecchia , 51.575% of orvieto in 2000.

old headquarter @ via bufalini 6 (ente headquarter)


listed company

in november 1999 ente sold of shares of bank sanpaolo imi , bnp paribas. in 2000 bank became listed company in borsa italiana, ente owned 50% shares only. @ end of 2000, ente cr firenze owned 43.18%, sanpaolo imi owned 19.09%, bnp paribas owned 6.99%, ente of pistoia & pescia saving bank owned 3.95%, banca carige 0.82% , cassa di risparmio di padova e rovigo owned 0.82%, 25.15% held public. ente cr firenze owned 2.57% shares of sanpaolo imi 6th largest shareholder, made ente directly , indirectly held 43.67% interests on banca cr firenze spa, not voting rights.

in 2000 group acquired cassa di risparmio di mirandola, reached 99.962% ownership in 2005. in june 2001 group acquired minority share holding of cassa dei risparmi di forlì, reached 12.75% in december 2005. in august 2001 credito fondiario toscano absorbed group. in december 2001 group increased shares holding of findomestic banca 35% 50%.

in 2003 bank acquired cassa di risparmio della spezia (carispezia) banca intesa , fondazione carispezia cash , shares exchange. ownership ratio reached 80% in 2006.

in march 2006 group acquired romanian bank banca daewoo s.a. , renamed banca cr firenze romania s.a.. in 2006 mirandola absorbed banca cr firenze.

privatization intesa sanpaolo

however, in july 2007 group being acquired intesa sanpaolo. before completion of acquisition , privatization in 2008, ente significant shareholder 41.925% shares, intesa sanpaolo second largest shareholder of 18.570% shares, followed bnp paribas (6.547%), fondazione carispezia (3.909%), foundation of pistoia & pescia saving bank (renamed ente fondazione in late 1990s) (3.680%) , società finanziaria di banche romagnole (1.088%), 24.281% shares held public. after merger ente became 7th largest shareholder of intesa sanpaolo (3.378%), due swap ratio of 1.194 intesa sanpaolo ordinary shares each banca cr firenze share, while intesa sanpaolo owned 89.71% shares of banca cr firenze. made ente owned 13.3% interests on banca cr firenze directly , indirectly, not in voting rights.

the merger triggered demarging of banca cr firenze s subsidiaries, cr orvieto (located in umbria region) , 4 former banca cr firenze branches sold banca popolare di bari in 2009, findomestic bank sold bnp paribas 2009 2011.

however intesa casse del centro, under directly ownership of intesa sanpaolo (96.07% ownership), sold banca cr firenze, made banca cr firenze had access saving banks of province of viterbo, ascoli, città di castello, spoleto, rieti, foligno, terni , narni. (4 umbria, 2 lazio, 1 marche) later intermediate holding company casse del centro dissolved.

in 2010 intesa sanpaolo spin off french banking group crédit agricole, carispezia sold french banking group, 11 former banca cr firenze branches sold crédit agricole s subsidiary in italy, cariparma.

in 2012 local saving banks reorganized selling relevant branches matching subsidiaries, both within banca cr firenze , within intesa sanpaolo. on 26 november 2012 subsidiary casse di risparmio dell umbria formed merger of foligno, città di castello, terni e narni , spoleto saving banks, cr spoleto renamed cr umbria.

on 23 july 2012 cr pistoia e pescia renamed cassa di risparmio di pistoia e della lucchesia. on 12 november 2012 ascoli piceno sold intesa sanpaolo after banca cr firenze acquired 100% shares. on 1 october 2012 banca cr firenze romania s.a. merged banca comercialà intesa sanpaolo romania s.a., banca cr firenze hold 8.18% of b.c. intesa sanpaolo romania after deal.

in 2015 subsidiaries cr viterbo, rieti , civitavecchia closed down. shares of saving banks exchanged shares of intesa sanpaolo. in same year ente cassa di risparmio di firenze excised put option sell minority stake (10.26%) in bank intesa sanpaolo €182.5 million. after deal former owner of banca cr firenze, owned 2% shares of intesa sanpaolo directly same ratio indirectly in banca cr firenze.

in november 2015 casse dell umbria sold parent company reduction of share capital , reserve of banca cr firenze.