Cassa di Risparmio di Cuneo

Cassa di Risparmio di Cuneo was a historic Italian savings bank established in 1855 in Cuneo, Piedmont. It operated as a local banking institution serving the Cuneo area and the wider Piedmontese financial market. Its institutional form changed during the reorganization of Italian savings banks that followed the 1990–1991 banking reforms. Under that process, the former savings-bank organization was divided into two related entities: Cassa di Risparmio di Cuneo S.p.A., which carried on the commercial banking activities, and Fondazione Cassa di Risparmio di Cuneo, a banking foundation that retained the public-interest and asset-holding role associated with the former institution. The operating bank did not continue as an independent Cuneo-branded bank. On 1 January 1995, Cassa di Risparmio di Cuneo S.p.A. merged with Banca del Monte di Lombardia S.p.A. to create Banca Regionale Europea. This transaction marked the end of Cassa di Risparmio di Cuneo as a standalone banking operator. Banca Regionale Europea subsequently became part of the wider Banca Lombarda e Piemontese group in 2000 and was later associated with UBI Banca following the 2007 group transaction. The successor foundation remained a significant institutional shareholder in the banking structures that followed the merger. In 2000, Fondazione Cassa di Risparmio di Cuneo held 18.91% of Banca Regionale Europea and 4% of Banca Lombarda. By 31 December 2014, it held 24.90% of Banca Regionale Europea and 2.230% of UBI Banca. These holdings illustrate the foundation's continuing role in the regional banking system after the original bank brand disappeared from the market. The foundation also pursued cultural and civic activities. One documented example is its sponsorship of restoration work at Alba Cathedral. Consequently, the historical identity of Cassa di Risparmio di Cuneo survives principally through Fondazione Cassa di Risparmio di Cuneo rather than through an active retail or commercial bank using the original name.

Cassa di Risparmio di Cuneo originated in 1855 as a savings-bank institution in Cuneo, Piedmont. Its historical role was regional: it operated as a local banking organization and formed part of the network of Italian casse di risparmio, institutions traditionally associated with savings collection and the provision of banking services to households, businesses, and local communities. A major institutional transformation followed the Italian banking reforms of 1990–1991. The reform framework separated the banking business from the philanthropic and asset-holding functions of savings banks. In Cuneo, this resulted in the creation of Cassa di Risparmio di Cuneo S.p.A. and Fondazione Cassa di Risparmio di Cuneo. The S.p.A. became the commercial banking vehicle, while the foundation assumed the role of the successor banking foundation and retained an interest in the value generated by the former institution. The operating company ceased to exist as an independent bank on 1 January 1995, when it merged with Banca del Monte di Lombardia S.p.A. The combination created Banca Regionale Europea. This merger transferred the Cuneo bank's commercial activities into a larger regional banking structure and brought the original Cassa di Risparmio di Cuneo name to an end as an operating bank brand. Banca Regionale Europea later became connected with Banca Lombarda e Piemontese, described as its parent group from 2000, and subsequently with UBI Banca from 2007. The former savings bank's foundation remained involved as a shareholder. It was reported to own 18.91% of Banca Regionale Europea and 4% of Banca Lombarda in 2000. At the end of 2014, the foundation reportedly held 24.90% of Banca Regionale Europea and 2.230% of UBI Banca. The foundation's post-bank activities also included support for cultural heritage. Among the documented projects was sponsorship of restoration work at Alba Cathedral. The institution therefore evolved from a local savings bank into a foundation-centered organization whose legacy was expressed through shareholder ownership, regional economic participation, and civic or cultural philanthropy rather than through an active banking branch network under the original name.

1. 2014Foundation's reported holdings documented

   At 31 December, the foundation was reported to hold 24.90% of Banca Regionale Europea and 2.230% of UBI Banca.

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2. 2007Successor banking group becomes associated with UBI Banca

   Banca Regionale Europea was subsequently associated with UBI Banca following the 2007 group development described in the reference material.

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3. 2000Banca Regionale Europea becomes associated with Banca Lombarda e Piemontese

   Banca Regionale Europea was described as a subsidiary of Banca Lombarda e Piemontese, while the foundation retained significant reported holdings in the successor banking structure.

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4. 1995Merger creates Banca Regionale Europea

   On 1 January, Cassa di Risparmio di Cuneo S.p.A. merged with Banca del Monte di Lombardia S.p.A., forming Banca Regionale Europea.

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5. 1991Banking reform separates the bank and foundation

   Following Italy's banking reform, the former organization was divided into Cassa di Risparmio di Cuneo S.p.A. and Fondazione Cassa di Risparmio di Cuneo.

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6. 1855Savings bank founded in Cuneo

   Cassa di Risparmio di Cuneo was established as a savings-bank institution in Cuneo, Piedmont.

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A regional Italian savings-bank institution serving Cuneo and Piedmont before its commercial banking operations were consolidated into a successor bank.

• Savings bankingRetail banking1855

  The institution's historic identity was that of an Italian savings bank. Its banking activity was associated with savings collection and regional banking services before the commercial operation was transferred into Banca Regionale Europea.

• Regional banking servicesCommercial banking1991

  Cassa di Risparmio di Cuneo S.p.A. represented the commercial banking business separated from the foundation during the post-1991 reform. It operated as the banking vehicle until its 1995 merger with Banca del Monte di Lombardia.

• 1995Merge with Banca del Monte di LombardiaM&A

  The newly separated banking company was consolidated with another Italian banking institution as part of regional banking integration.

  What changed. On 1 January 1995, Cassa di Risparmio di Cuneo S.p.A. merged with Banca del Monte di Lombardia S.p.A. to form Banca Regionale Europea.

  Aftermath. Cassa di Risparmio di Cuneo ceased to operate as an independent bank, while its foundation continued as a separate non-profit organization and shareholder.

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• 1991Separate the commercial bank from the banking foundationStrategy

  Italian banking reform required the traditional savings-bank structure to be reorganized into a commercial banking entity and a separate foundation.

  What changed. The former Cassa di Risparmio di Cuneo was divided into Cassa di Risparmio di Cuneo S.p.A. and Fondazione Cassa di Risparmio di Cuneo.

  Aftermath. The S.p.A. continued the banking business, while the foundation became the successor institution for asset-holding and public-interest activities.

  Source

• 2014Foundation's reported banking holdings in 2014

  As of 31 December 2014, Fondazione Cassa di Risparmio di Cuneo was reported to hold 24.90% of Banca Regionale Europea and 2.230% of UBI Banca.

  Other
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• 2000Fondazione Cassa di Risparmio di Cuneo retains a stake in the regional banking successor

  The foundation was reported to hold 18.91% of Banca Regionale Europea and 4% of Banca Lombarda, reflecting its continuing post-merger role as a banking-foundation shareholder.

  Other
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• 1995Cassa di Risparmio di Cuneo S.p.A. merges to form Banca Regionale Europea

  The commercial banking company created from the former savings bank merged with Banca del Monte di Lombardia S.p.A. on 1 January 1995, creating Banca Regionale Europea and ending the original bank's independent operation.

  M&A
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1. Cassa di Risparmio di Cuneo