Banca Caripe

Banca Caripe was an Italian savings bank based in Pescara, in the Abruzzo region. Its institutional origins dated to 1871, when Cassa di Risparmio e di Credito Agrario di Loreto Aprutino was established in Loreto Aprutino, then part of the Kingdom of Italy. The institution was renamed in 1936 as Cassa di Risparmio della Provincia di Pescara, with its registered base still in Loreto Aprutino; later forms of the name referred to the savings bank of Pescara and Loreto Aprutino. The bank was reorganized in 1992 under Italy's Legge Amato banking reforms. The operating banking business became Cassa di Risparmio di Pescara e Loreto Aprutino S.p.A., while the associated banking foundation became a separate entity. The foundation was later known as Fondazione Pescara Abruzzo. Cariplo initially acquired a 20 percent stake in the new joint-stock bank. That interest subsequently passed into the Banca Intesa structure and was sold back to the foundation in 2000. The Banca Caripe name was adopted on 16 February 2001. During the following decade, ownership moved through several Italian banking groups. Banca Popolare di Lodi, through ICCRI and later Reti Bancarie, acquired a controlling position in 2001 and increased its effective ownership to 51 percent in 2003. The bank became part of the Banco Popolare group in 2007 after the integration of Banca Popolare di Lodi into that group. In this period, the institution operated as a regional retail and commercial bank rather than as a nationally distributed financial brand. On 1 January 2011, Banco Popolare sold control of Banca Caripe to Banca Tercas for a reported €228 million. The banking foundation retained a minority interest of 5 percent. Banca Caripe subsequently experienced severe capital pressure during the financial difficulties of the Banca Tercas group. Banca Tercas was placed under special administration from 2012 until September 2014, and Banca Caripe itself entered special administration on 3 July 2014. Its reported CET1 ratio fell to 0.18 percent at the end of 2013, while shareholders' equity was reported at approximately €1 million. In 2014, Banca Popolare di Bari acquired the Banca Tercas banking group and recapitalized Banca Caripe. The recapitalization was reported at €75 million. By 30 September 2014, the bank's reported CET1 ratio had recovered to 7.59 percent under Basel III and shareholders' equity had risen to €65 million, although the ratio was reported at 7.004 percent at the end of that year. Banca Caripe maintained a regional branch network concentrated in Abruzzo, with 48 branches in total and 13 outside the Province of Pescara in Abruzzo and Marche. Banca Popolare di Bari absorbed the banking company in 2016, although the Caripe name was retained as a brand. The original associated banking foundation continued separately as Fondazione Pescara Abruzzo. Accordingly, Banca Caripe is best understood today as a historical Italian banking company and continuing legacy brand rather than as an independent legal bank.

Banca Caripe developed from a nineteenth-century local savings institution in Loreto Aprutino. Cassa di Risparmio e di Credito Agrario di Loreto Aprutino was founded in 1871 to provide savings and credit services in the local area. In 1936 it became Cassa di Risparmio della Provincia di Pescara, later using a shortened form referring to Pescara and Loreto Aprutino. Italy's Legge Amato reforms led to a major structural separation in 1992. The banking operations were transferred to Cassa di Risparmio di Pescara e Loreto Aprutino S.p.A., while the original banking foundation became a separate legal entity. Cariplo acquired 20 percent of the operating company, alongside interests in other Abruzzo savings banks. After the creation and development of Banca Intesa, that 20 percent interest was returned to the foundation in 2000. The bank became Banca Caripe S.p.A. in February 2001. In the same year, Banca Popolare di Lodi entered its ownership structure through ICCRI. The stake was increased to control through Reti Bancarie in 2003, and the bank later became part of Banco Popolare in 2007. Banca Caripe remained a regional institution, with its branch network concentrated in the Province of Pescara and the wider Abruzzo area, while also maintaining a smaller presence in Marche. Banco Popolare sold control to Banca Tercas at the beginning of 2011. The transaction left the banking foundation with a small minority holding. Financial stress intensified after Banca Tercas entered special administration in 2012. Banca Caripe's capital position deteriorated substantially, and it too was placed under special administration in July 2014. Reported capital ratios and equity subsequently reached very low levels. Banca Popolare di Bari acquired the Banca Tercas group in 2014 and recapitalized Banca Caripe. The bank's reported capital position improved later that year, although it remained part of a financially troubled banking environment. In 2016 Banca Popolare di Bari absorbed the legal banking entity. The Banca Caripe name was retained as a commercial brand, while the former banking foundation continued independently as Fondazione Pescara Abruzzo.

1. 2016Legal entity is absorbed

   Banca Caripe is absorbed by Banca Popolare di Bari, with the name retained as a brand.

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2. 2014Banca Popolare di Bari becomes parent

   Banca Popolare di Bari acquires the Banca Tercas group and recapitalizes Banca Caripe.

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3. 2011Control passes to Banca Tercas

   Banco Popolare sells control of the bank to Banca Tercas.

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4. 2007Joins Banco Popolare

   Banca Caripe becomes part of the Banco Popolare banking group.

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5. 2001Banca Caripe name adopted

   The institution is renamed Banca Caripe S.p.A. and enters the ownership structure of Banca Popolare di Lodi.

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6. 1992Legge Amato restructuring

   The operating bank is separated from the associated banking foundation and reorganized as a joint-stock company.

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7. 1936Institution is renamed

   The bank adopts the name Cassa di Risparmio della Provincia di Pescara.

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8. 1871Local savings bank is founded

   Cassa di Risparmio e di Credito Agrario di Loreto Aprutino is established in Loreto Aprutino.

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A regionally focused savings-bank brand serving households, local businesses, and communities in Abruzzo and neighboring Marche.

• Retail bankingBanking services

  Banca Caripe's core activity was regional retail banking for households and individuals. Its branch network provided conventional savings, current-account, payment, lending, and related banking services through a locally focused distribution model.

• Commercial and local business bankingBanking services

  The bank also served businesses and local economic activity in Abruzzo and neighboring Marche. Its historic savings-bank structure and regional footprint positioned it to provide credit and account services to small and medium-sized enterprises, although detailed product-level information is not available in the cited reference.

• 2016Absorb the banking company into Banca Popolare di BariM&A

  Banca Popolare di Bari had acquired the banking group that controlled Banca Caripe.

  What changed. Banca Popolare di Bari absorbed Banca Caripe as a legal entity while retaining the Caripe name as a brand.

  Aftermath. Banca Caripe ceased to operate as an independent banking company, while its historic brand identity continued within the parent structure.

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• 2014Recapitalize Banca CaripeOther

  Banca Caripe experienced severe capital deterioration while its parent, Banca Tercas, was under special administration.

  What changed. After acquiring the Banca Tercas group, Banca Popolare di Bari recapitalized Banca Caripe by a reported €75 million.

  Aftermath. Reported shareholders' equity and the CET1 ratio improved during 2014, although the bank remained within a broader restructuring process.

  Recapitalization. €75 million (2014)

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• 2001Adopt the Banca Caripe brandStrategy

  The regional savings bank was operating within a changing Italian banking ownership landscape.

  What changed. The institution changed its legal name to Banca Caripe S.p.A.

  Aftermath. The new name became the bank's principal commercial identity during its ownership by successive national banking groups.

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• 1992Separate the banking company from the foundationStrategy

  Italy's Legge Amato reforms required or encouraged the separation of banking operations from the ownership and philanthropic functions of savings-bank foundations.

  What changed. The operating bank was established as Cassa di Risparmio di Pescara e Loreto Aprutino S.p.A., while the associated foundation became a separate entity.

  Aftermath. The restructuring created the corporate form that later adopted the Banca Caripe name and allowed outside banking groups to acquire stakes.

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• 2016Banca Caripe is absorbed by Banca Popolare di Bari

  The banking company was absorbed by Banca Popolare di Bari, while the Caripe name was retained as a brand.

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• 2014Banca Caripe enters special administration

  The bank was placed under special administration on 3 July 2014 amid capital weakness and the broader insolvency problems affecting its parent, Banca Tercas.

  BankruptcyRegulation
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• 2014Banca Popolare di Bari acquires the Banca Tercas group

  Banca Popolare di Bari acquired the Banca Tercas banking group and became Banca Caripe's controlling parent.

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• 2014Banca Caripe receives a €75 million recapitalization

  Following the change of control, Banca Caripe was recapitalized. Its reported CET1 ratio improved to 7.59 percent at 30 September 2014, before being reported at 7.004 percent at year-end.

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• 2011Banca Caripe is sold to Banca Tercas

  Banco Popolare transferred control of Banca Caripe to Banca Tercas on 1 January 2011; the banking foundation retained a 5 percent minority stake.

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• 2003Banca Popolare di Lodi increases control of Banca Caripe

  Ownership held through Reti Bancarie increased the banking group's effective stake to 51 percent.

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• 2001Banca Caripe is renamed and enters the Banca Popolare di Lodi group

  The institution adopted the Banca Caripe name, while Banca Popolare di Lodi acquired an initial 30 percent interest through the ICCRI structure.

  M&AOther
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1. Banca Caripe