Crédit Agricole Italia

Crédit Agricole Italia S.p.A., formerly Crédit Agricole Cariparma S.p.A., is an Italian banking group, a subsidiary of French banking group Crédit Agricole. Crédit Agricole Italia was ranked as the 11th largest bank in Italy by total assets at 31 December 2015.[2] The group serving Emilia-Romagna, Liguria and Friuli-Venezia Giulia, where the predecessors originated, as well as Campania, Lazio, Lombardy, Piedmont, Tuscany, Umbria and Veneto, or half of Italian regions.

The company was formerly known as Cassa di Risparmio di Parma e Piacenza and Cassa di Risparmio di Parma, or Cariparma in short; The banking group was formerly known as Gruppo Cariparma Crédit Agricole (Cariparma and subsidiaries Carispezia and FriulAdria). Since 2016, to eliminate the use of the three brands of the group: Cariparma, Carispezia and FriulAdria, the brand Crédit Agricole Italia was introduced. A common website www.credit-agricole.it was introduced in 2016.

Despite not a Crédit Agricole Italia subsidiary but sister company within Crédit Agricole Group, Crédit Agricole Vita places its products through Crédit Agricole Italia banking network; Crédit Agricole Corporate and Investment Bank

History

Foundation and early years (1859–1991)

Cassa di Risparmio di Parma was formed on 6 December 1859 by a decree signed by Luigi Carlo Farini.[3] It merged with other regional bank in the last two decades, eventually became the 10th largest banking group by total assets in Italy in 2013. On 16 November 1960 the bank merged with Monte di Credito su Pegno di Busseto (Mount of Piety of Busseto).[3]

As Cassa di Risparmio di Parma e Piacenza

In 1991, due to Legge Amato, two entities were formed, namely Fondazione Cassa di Risparmio di Parma e Monte di Credito su Pegno di Busseto (Fondazione Cariparma) and Cassa di Risparmio di Parma S.p.A., which the former served as a non-profit parent entity.[4][5] In 1992 it acquired Banca Emiliana. In 1993, the bank merged with Cassa di Risparmio di Piacenza e Vigevano,[6] which Fondazione Cariparma held 52% shares of the new company Cassa di Risparmio di Parma e Piacenza S.p.A. only.[6] 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.[7]

In 1994 Cariparma acquired Credito Commerciale, a bank based in 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.[8] In 2008, Cariparma still maintained a market share of 14% in the Province of Cremona.[9]

Acquired by Banca Intesa

From 1998 to 2000 Banca Intesa gradually acquires the shares of Cariparma by exchanging the shares of Banca Intesa to Cariparma.[10] The old "CR Parma & Piacenza" shareholder were Fondazione Cariparma, Fondazione di Piacenza e Vigevano (the parent entity of C.R. di Piacenza e Vigevano)[11] and Società Bresciana di Partecipazioni Bancarie (a subsidiary of Banca Lombarda). In 1999, Banca Intesa reached 76.58% ownership[12] 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 stake in Cassa di Risparmio di Reggio Emilia for another merger.

In 1999, Mediocredito Padano was absorbed into Cariparma.

Acquired by Crédit Agricole

Cariparma was acquired by Crédit Agricole in 2007. With the aid of the parent company, Cariparma acquired some branches from Italian major banking group Intesa Sanpaolo in 2007 and again in 2011. However, the parent company also started to introduce duo brand Cariparma – Crédit Agricole, which fading out the use of Cariparma.

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%).[14] 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.[15]

Renamed Crédit Agricole Italia

In late 2016 the legal name of the bank became Crédit Agricole Cariparma S.p.A.. One unified website was also used for the three brands of the Italian banking group, as well as one brand Crédit Agricole Italia was used. The unified brand was announced in March 2016 along with other items in Crédit Agricole Group's 2016–2020 business plan.[27]

On 21 April 2017, it was announced that Crédit Agricole Italia had started negotiating with shareholders, the Bank of Italy (regulator) and the Voluntary Scheme of Fondo Interbancario di Tutela dei Depositi to acquire Banca Carim, Cassa di Risparmio di Cesena and Cassa di Risparmio di San Miniato, three leading independent saving banks, located in Tuscany and Emilia–Romagna, which suffered from capital shortfall.[28] On 29 September, a contract was signed.[29] In 2018, the 3 subsidiaries were absorbed into Crédit Agricole Italia.

type	Subsidiary
foundation	1859 (as C.R. Parma) 1991 (as C.R. Parma S.p.A.) 1992 (as C.R. Parma e Piacenza S.p.A.) 2007 (acquired by Crédit Agricole)
former name	Cassa di Risparmio di Parma Cassa di Risparmio di Parma S.p.A. Cassa di Risparmio di Parma e Piacenza S.p.A. Crédit Agricole Cariparma S.p.A.
location	Parma, Italy
industry	Financial services
services	Retail and corporate banking
net income	€208 million
net income year	2016
assets	€55,0 billion (Q2 2025)
equity	€5,082 million
equity year	2016
num locations	815
num locations year	2016
num employees	8,268
num employees year	2016
parent	Crédit Agricole S.A.
homepage	http://www.credit-agricole.it
ratio	11.4% (Group CET1, December 2016)
footnotes	in consolidated financial statement‡R1R‡

Crédit Agricole Italia

History

Foundation and early years (1859–1991)

As Cassa di Risparmio di Parma e Piacenza

Acquired by Banca Intesa

Acquired by Crédit Agricole

Renamed Crédit Agricole Italia

Subsidiaries

Carispezia

FriulAdria

Crédit Agricole Leasing Italia

See also

External links

References