Banca Monte Parma was an Italian regional bank, active in the provinces of Parma, Piacenza and Reggio-Emilia. In mid-2015 it was absorbed into the parent company.
History
The bank was founded in Parma in 1488 as Mons Pietatis Almae Civitatis Parmae by Bernardine of Feltre, in order to combat usury – he was known for his violent anti-Judaism. This makes it one of the oldest banks in the world.
Operations
In 1991, in order to comply with new Italian banking regulations, the company became a joint-stock company and a subsidiary of Fondazione Monte di Parma (Fondazione Monteparma).[1]
Cariplo as minority shareholder
From 1994 to 1999, Cassa di Risparmio delle Provincie Lombarde (Cariplo) owned 20.5% of Banca Monte Parma with the rest held by the foundation. Cariplo was a wholly owned subsidiary of Banca Intesa