History
Civica Cassa di Risparmio di Verona was founded in 1825 in Verona in the Kingdom of Lombardy–Venetia of the Austrian Empire as a division of the local mount of piety. In 1892, the bank was independent from the mount of piety. The mount was merged with Cariverona in 1947.
Cassa di Risparmio di Verona merged with other banks in Veneto region in 1927–28, due to a decree-law to consolidate savings banks that were too small.[10] (law no.2587 of 1927[11]) It was renamed to Cassa di Risparmio di Verona e Vicenza in 1927 and Cassa di Risparmio di Verona, Vicenza e Belluno in 1939. Notable entities that were absorbed in 1927–28, were Cassa di Risparmio di Vicenza (founded in 1822), Cassa di Risparmio di Legnago (founded in 1893; merged in 1927), Cassa di Risparmio di Bassano del Grappa (founded in 1912; merged in 1928), Banca del Monte di Feltre,[12] and Cassa di Risparmio di Cologna Veneta,[12][13] all from the provinces of Verona, Vicenza and Belluno, as well as either mount of piety and/or savings bank origins; Monte di Credito su Pegno di Belluno was absorbed by Cariverona in 1948,[14] followed by the counterpart in Bassano del Grappa in 1955.[15] In 1946, the assets and liabilities of a rural credit union, Cassa Rurale e Artigiana di Isola Rizza, was also acquired by the bank.[9]
Verona, Vicenza and Belluno were the three provincial capitals of Veneto region; in the other 4 provincial capitals, they have separate savings banks, which except Treviso (Cassa di Risparmio della Marca Trivigiana, a predecessor of UniCredit along with Cariverona), were the predecessors of Intesa Sanpaolo (Cassa di Risparmio di Padova e Rovigo and Cassa di Risparmio di Venezia)
In 1989, the bank merged with Cassa di Risparmio di Ancona of Marche region to become Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona.[16][17] According to La Repubblica, the bank was the fourth largest savings bank of Italy at that time.[16] A report by Mediobanca, shown the bank was ranked 20th by total client deposits (total deposits excluding inter-bank deposit) in 1988, among all type of commercial banks;[18] in terms of savings bank, behind Cassa di Risparmio delle Provincie Lombarde (Cariplo), Cassa di Risparmio di Torino (Banca CRT) and Cassa di Risparmio di Roma.[18] Cariplo was a predecessor of Intesa Sanpaolo banking group (known as Banca Intesa
Cariverona Banca S.p.A.
In December 1991, due to Legge Amato, the bank was split into two organizations, a società per azioni and a banking foundation. The former continued the banking activities, while the latter inherited the legal person and charity activities.
The bank (now the S.p.A.) and the foundation were the founder of Unicredito banking group as subsidiary and shareholder respectively in 1994.[1] The other member of the group was Cassa di Risparmio della Marca Trivigiana (Cassamarca) and its banking foundation Fondazione Cassamarca.
According to the Bank of Italy figures, in term of market share in deposit, before the merger of Cariverona (Cassa di Risparmio di Verona, Vicenza, Belluno e Ancona), and Cassamarca, they also had a significant market share in their home province(s). For Cariverona, it was 38.35% in the Province of Verona, 25.23% in Vicenza and 55.11% in Belluno in 1994; the figure in the Province of Ancona was not stated.[19]
