Banca Carime

Banca Carime S.p.A. was an Italian regional banking institution headquartered in Cosenza, Calabria. Its business was rooted in the historic savings-bank network of southern Italy, particularly the institutions serving Calabria, Basilicata, Apulia and the Salerno area. The bank was created during the consolidation of Italy's savings-bank sector in the 1990s, when larger banking groups combined local casse di risparmio into national or regional structures. The immediate predecessors of Banca Carime were Cassa di Risparmio di Calabria e di Lucania, commonly known as Carical and established in 1861; Cassa di Risparmio di Puglia, known as Caripuglia and established in 1949; and Cassa di Risparmio di Salerno, known as Carisal and established in 1956. Cariplo accumulated controlling interests in these institutions and reorganized their corporate structure. In 1997, the holding company Fincarime was renamed Banca Carime S.p.A., with Cariplo holding approximately 98.70% directly and indirectly. The three savings banks were subsequently consolidated into Banca Carime on 1 January 1998. The new bank initially belonged to the Cariplo sphere. After Cariplo merged with Banco Ambrosiano Veneto to create Banca Intesa in January 1998, the predecessor savings banks disappeared as separate operating entities: Caripuglia in 1998, and Carisal and Carical in 1999. Banca Carime continued as the unified regional operating brand. Its network was concentrated in southern Italy. In 1999 it had 341 branches, including 146 in Calabria, 122 in Apulia, 45 in Basilicata, 27 in Campania and one in Molise. Ownership changed repeatedly during the following decade. In January 2001, 19 branches were transferred to Banca Nuova, part of the Banca Popolare di Vicenza group. Later that year Banca Intesa sold a 75% interest in Banca Carime to Banca Popolare Commercio e Industria for approximately €1.191 billion, while retaining a minority interest of about 24.92%. In 2002, Intesa disposed of its remaining minority interests to Deutsche Bank under an arrangement that included warrants allowing Banca Popolare Commercio e Industria to acquire Carime at the same price. Those warrants were exercised in 2005. On 1 July 2003, Banca Carime followed Banca Popolare Commercio e Industria into the Banche Popolari Unite group. It later became part of UBI Banca when Banche Popolari Unite and Banca Lombarda e Piemontese combined in 2007. That year it also sold 15 branches to Banca Popolare Pugliese, effective 1 May. By 31 December 2015, the bank had 216 branches, all in southern Italy: 84 in Calabria, 93 in Apulia, 20 in Campania and 19 in Basilicata. Banca Carime's identity was therefore primarily regional rather than international. It served households, local businesses and communities through conventional branch-based banking, while its corporate ownership reflected the successive consolidation of Italy's banking groups. The available reference material does not establish the bank's later legal status or provide sufficient information about its final integration into UBI Banca or any successor structure.

Banca Carime emerged from the restructuring of several long-established savings banks in southern Italy. Its principal predecessor, Cassa di Risparmio di Calabria e di Lucania, or Carical, traced its origins to 1861. The other constituent institutions were Cassa di Risparmio di Puglia, established in 1949, and Cassa di Risparmio di Salerno, established in 1956. During the 1990s, Cariplo built controlling positions in the three institutions, both directly and through related holdings. In 1997, Fincarime was renamed Banca Carime S.p.A.; Cariplo held approximately 98.70% of the new entity directly and indirectly. The three local banks were then merged into Banca Carime on 1 January 1998. The consolidation coincided with a broader transformation of Italian savings banks into larger banking groups. Cariplo itself merged with Banco Ambrosiano Veneto on 2 January 1998 to create Banca Intesa. Caripuglia ceased to exist as a separate institution in 1998, followed by Carisal and Carical in 1999. Banca Carime retained a strongly southern Italian branch network. In 1999 it operated 341 branches across Calabria, Basilicata, Apulia, Campania and Molise. Its ownership changed materially in the early 2000s. Nineteen branches were sold to Banca Nuova in January 2001. On 29 June 2001, Banca Intesa sold 75% of Banca Carime to Banca Popolare Commercio e Industria for approximately €1.191 billion and retained a minority interest. In 2002, Banca Intesa sold its remaining interests to Deutsche Bank, while an associated warrant arrangement gave Banca Popolare Commercio e Industria the possibility of acquiring Carime at the same price. The warrants were exercised in 2005. On 1 July 2003, Carime became part of Banche Popolari Unite. In 2007, another banking merger placed it within UBI Banca. During the same year, Banca Carime sold 15 branches to Banca Popolare Pugliese. By the end of 2015, the bank's network had contracted to 216 branches, all in southern Italy: 84 in Calabria, 93 in Apulia, 20 in Campania and 19 in Basilicata. The available material presents Banca Carime as a regional operating bank shaped by repeated ownership changes and branch-network rationalization. It does not provide enough verified information to identify executives, marketing campaigns, scandals, or the bank's definitive later legal status.

1. 2015Documented branch network reduced to 216

   At year-end, Banca Carime operated 216 branches in Calabria, Apulia, Campania and Basilicata.

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2. 2007Joined UBI Banca

   Banca Carime became part of UBI Banca following a banking-group merger.

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3. 2003Joined Banche Popolari Unite

   Banca Carime became a member of the Banche Popolari Unite group.

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4. 2001Control transferred to Banca Popolare Commercio e Industria

   Banca Intesa sold a 75% interest in Banca Carime, retaining a minority holding.

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5. 1999Peak documented branch network

   Banca Carime had 341 branches across southern Italian regions and Molise.

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6. 1998Three savings banks consolidated

   Carical, Caripuglia and Carisal were merged into Banca Carime on 1 January.

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7. 1997Fincarime renamed Banca Carime

   Fincarime was renamed Banca Carime S.p.A., with Cariplo holding approximately 98.70% directly and indirectly.

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8. 1956Carisal predecessor established

   Cassa di Risparmio di Salerno, later known as Carisal, was established.

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9. 1949Caripuglia predecessor established

   Cassa di Risparmio di Puglia, later known as Caripuglia, was established.

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10. 1861Carical predecessor established

    Cassa di Risparmio di Calabria e di Lucania, later known as Carical, was established.

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A southern Italian regional bank focused on branch-based retail and local commercial banking.

• Retail bankingBanking services

  Banca Carime operated as a conventional regional bank serving households and local communities through a physical branch network. The available source identifies its branch presence and banking role but does not document specific product names or detailed account terms.

• Local commercial bankingBusiness banking

  The bank's geographic concentration in southern Italy indicates a role in serving local businesses and regional economic activity. Specific lending products, sector concentrations and commercial brands are not identified in the available reference material.

• 2007Branch-network rationalizationStrategy

  Banca Carime was undergoing further group integration and network adjustment.

  What changed. The bank sold 15 branches to Banca Popolare Pugliese, effective 1 May.

  Aftermath. The transaction reduced Banca Carime's operating footprint in southern Italy.

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• 2001Sale of a controlling stake to Banca Popolare Commercio e IndustriaM&A

  Following the creation of Banca Intesa, the group changed its ownership position in the regional bank.

  What changed. Banca Intesa sold 75% of Banca Carime to Banca Popolare Commercio e Industria and retained approximately 24.92%.

  Aftermath. Banca Carime moved into the Banca Popolare Commercio e Industria and subsequently Banche Popolari Unite ownership structure.

  Transaction value for the 75% stake. €1.191 billion (29 June 2001)

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• 1998Consolidation of Carical, Caripuglia and CarisalM&A

  Cariplo controlled the three southern savings banks and sought to organize them as a unified banking operation.

  What changed. The three institutions were merged into Banca Carime on 1 January 1998.

  Aftermath. The predecessor banks disappeared as separate entities, while Banca Carime continued their regional branch-based banking activities.

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• 2007Banca Carime became part of UBI Banca

  A further banking-group merger brought Banca Carime into UBI Banca.

  M&A
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• 2007Banca Carime sold 15 branches to Banca Popolare Pugliese

  Fifteen branches were sold to Banca Popolare Pugliese, with the transaction becoming effective on 1 May.

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• 2003Banca Carime joined the Banche Popolari Unite group

  Banca Carime became a member of Banche Popolari Unite after following its controlling banking group into the newly established organization.

  M&A
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• 2001Banca Carime transferred 19 branches to Banca Nuova

  Nineteen branches of Banca Carime were sold to Banca Nuova, part of the Banca Popolare di Vicenza banking group.

  M&A
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• 2001Banca Intesa sold control of Banca Carime

  Banca Intesa sold a 75% stake in Banca Carime to Banca Popolare Commercio e Industria and retained a minority holding of approximately 24.92%.

  M&A
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• 1998Banca Carime created through the consolidation of three southern Italian savings banks

  Carical, Caripuglia and Carisal were consolidated into the newly organized Banca Carime, following the restructuring of their ownership under Cariplo and Banca Intesa.

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1. Banca Carime