Cassa di Risparmio di Venezia

Cassa di Risparmio di Venezia, commonly abbreviated as Carive or CR Venezia, was a savings bank headquartered in Venice, Veneto. Its institutional history was rooted in the reorganization of charitable lending and savings institutions in the Venetian area during the Napoleonic and Austrian periods. A municipal pawn-lending institution, Banco Pignoratizio Comunale, was established in 1806. The savings-bank system was subsequently introduced in Venice under the Kingdom of Lombardy–Venetia, and the opening of Cassa di Risparmio di Venezia was formally gazetted on 13 February 1822, although the bank had begun operating one day earlier. During the twentieth century, Carive developed a regional branch network. It opened branches in Mestre in 1910, Portogruaro in 1911, Chioggia in 1912 and Dolo in 1913, extending its presence across communities that later formed part of the Province of Venice. By 1987, the bank had 59 branches in that province. From 1988 onward, it expanded beyond the historic Venetian territory into other parts of Veneto and into Friuli, reflecting the broader consolidation and regionalization of Italian banking. A major structural change followed the Amato banking reform. In 1992, the bank's operating activities, charitable role and ownership structure were separated. The banking business became a joint-stock company, while the associated banking foundation became Fondazione Cassa di Risparmio di Venezia, commonly known as Fondazione di Venezia. This separation preserved the foundation's philanthropic identity while placing the commercial bank within a series of larger banking combinations. In 1994, Carive joined the formation of Casse Venete Banca, a holding company created through the combination of several savings-bank institutions, including the savings banks of Padova and Rovigo, Gorizia, Udine and Pordenone, together with Banca Agricola di Cerea. The participating banks continued to operate as separate entities at that stage. In 2000, Carive followed the holding company into the creation of the Cardine Banca Group through a merger with the Casse Emiliano Romagnole Group. In 2002, Cardine Banca merged with Sanpaolo IMI, making Carive part of that wider banking group. On 2 January 2007, a further merger created Intesa Sanpaolo, and Carive consequently became part of the Intesa Sanpaolo Group. The brand remained associated with the Venetian market for several years, but Intesa Sanpaolo later pursued a reduction in the number of legacy local banking brands. In 2014, Carive was absorbed into its parent company. Its former branches subsequently operated under the Intesa Sanpaolo name, ending Carive as a standalone banking brand. The former owner, Fondazione di Venezia, continued as a charitable organization after the separation of the bank and foundation. It also retained a small shareholding in Intesa Sanpaolo; the reference material records a holding of 0.33215% of Intesa Sanpaolo's shares, equivalent to 0.35197% of ordinary shares, at 31 December 2013. The bank's final reported full-year figures cited in the reference material were revenue of €183 million, net profit of €50 million, total assets of €4.432 billion and equity of €415 million. These figures are historical and describe the institution shortly before its absorption into Intesa Sanpaolo.

The institutional background of Cassa di Risparmio di Venezia reaches back to the financial and charitable reforms of the early nineteenth century. In 1806, during the period of Napoleonic Italy, Banco Pignoratizio Comunale was established in Venice using a mont-de-piété, or pawn-bank, model. The savings-bank system was introduced to the city in 1820 under the Kingdom of Lombardy–Venetia, then governed by the Austrian Empire. The creation of Cassa di Risparmio di Venezia was formally gazetted on 13 February 1822, although operations had reportedly begun on 12 February. The bank gradually became a regional institution. Its early twentieth-century branch openings included Mestre in 1910, Portogruaro in 1911, Chioggia in 1912 and Dolo in 1913. These locations established a service network across the territory associated with the modern Province of Venice. By 1987, Carive operated 59 branches in that province. Beginning in 1988, it extended its network into the wider Veneto region and Friuli, moving beyond a narrowly municipal or metropolitan role. The Italian banking reforms of the 1990s changed the institution's legal and organizational framework. Under the Amato reform, the bank's commercial operations were separated in 1992 from its charitable functions and ownership structure. The banking operations were placed in a società per azioni, while Fondazione Cassa di Risparmio di Venezia, later known as Fondazione di Venezia, became the associated banking foundation. The reform created a distinction between the commercial bank and the foundation's philanthropic and cultural role. In 1994, Carive participated in the creation of Casse Venete Banca. The new holding company brought together several savings banks and Banca Agricola di Cerea, while the constituent banks initially continued to operate separately. In 2000, Casse Venete Banca joined with the Casse Emiliano Romagnole Group to create Cardine Banca Group. Carive followed this group structure into the 2002 merger with Sanpaolo IMI. The next major stage came on 2 January 2007, when the Sanpaolo IMI combination with Banca Intesa created Intesa Sanpaolo. Carive thereby became a subsidiary within one of Italy's largest banking groups. Although the local name continued to identify its Venetian branch network for a period, the group later decided to simplify its brand architecture. In 2014, the bank was absorbed into Intesa Sanpaolo, and its former branches were rebranded directly under the Intesa Sanpaolo name. After the commercial bank ceased to exist as a separate entity, Fondazione di Venezia remained active as a charitable organization and retained a small interest in Intesa Sanpaolo. The cited reference records the foundation's holding at 0.33215% of Intesa Sanpaolo shares, or 0.35197% of ordinary shares, as of 31 December 2013. The final full-year financial figures identified for Carive were €183 million in revenue, €50 million in net profit, €4.432 billion in total assets and €415 million in equity. Carive is therefore best understood today as a historical Venetian banking institution whose operations and branch heritage were incorporated into Intesa Sanpaolo.

1. 2014Absorption into Intesa Sanpaolo

   Carive was absorbed into its parent company and its former branches adopted the Intesa Sanpaolo brand.

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2. 2007Entry into Intesa Sanpaolo Group

   On 2 January 2007, Carive became part of Intesa Sanpaolo following the merger that created the group.

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3. 2002Merger with Sanpaolo IMI

   Cardine Banca Group merged with Sanpaolo IMI, bringing Carive into the Sanpaolo organization.

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4. 2000Formation of Cardine Banca Group

   Carive followed its holding company into the combination that created Cardine Banca Group.

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5. 1994Formation of Casse Venete Banca

   Carive joined other savings banks and Banca Agricola di Cerea in the formation of Casse Venete Banca.

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6. 1992Commercial bank separated from foundation

   Under the Amato banking reform, the banking operations were separated from charitable functions and ownership, with the operating bank becoming a joint-stock company and a banking foundation being established.

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7. 1988Expansion beyond the Province of Venice

   The bank began opening additional branches elsewhere in Veneto and in Friuli.

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8. 1987Regional network reached 59 branches

   Carive was reported to operate 59 branches in the Province of Venice.

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9. 1913Branch opened in Dolo

   A further branch was opened in Dolo, reinforcing the bank's presence across the Venetian area.

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10. 1912Branch opened in Chioggia

    Carive extended its local network to Chioggia.

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11. 1911Branch opened in Portogruaro

    The bank continued its early twentieth-century expansion with a branch in Portogruaro.

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12. 1910Branch opened in Mestre

    Carive expanded its network by opening a branch in Mestre.

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13. 1822Cassa di Risparmio di Venezia formally established

    The bank's opening was gazetted on 13 February 1822, following the reported start of operations on 12 February.

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14. 1820Savings-bank system introduced in Venice

    The government of the Kingdom of Lombardy–Venetia introduced a savings-bank framework in Venice.

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15. 1806Creation of Banco Pignoratizio Comunale

    A municipal pawn-lending institution was established in Venice and formed part of the institutional background from which later savings-bank activity developed.

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A historically regional savings bank serving Venice and northeastern Italy, with a strong local branch identity before its integration into larger Italian banking groups.

• Savings and deposit accountsRetail banking

  Savings-bank deposits and account services formed the institution's traditional core. The available reference material identifies Carive as a savings bank but does not provide names or detailed specifications for individual account products.

• Loans and creditLending

  As a regional commercial bank, Carive provided banking and credit services to customers in Venice and northeastern Italy. The reference material does not identify particular loan products, terms or customer segments.

• Retail and commercial banking servicesBanking services

  Carive operated a local branch network and supplied general banking services across the Province of Venice, Veneto and Friuli. Its branch-based presence was the principal expression of the brand before integration into Intesa Sanpaolo.

• 2014Brand consolidation and absorptionStrategy

  Intesa Sanpaolo planned to reduce the number of legacy local brands used across its branch network.

  What changed. Carive was absorbed into Intesa Sanpaolo and its former branches were renamed under the Intesa Sanpaolo brand.

  Aftermath. Cassa di Risparmio di Venezia ceased to operate as a separate bank and its commercial activities continued within Intesa Sanpaolo.

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• 2013Final reported full-year financial figuresOther

  The historical reference identifies the bank's last full-year result before its absorption into the parent organization.

  What changed. Carive reported revenue of €183 million, net profit of €50 million, total assets of €4.432 billion and equity of €415 million.

  Aftermath. These figures provide a final reference point for the standalone institution before the brand was discontinued.

  Revenue, net profit, total assets and equity. Revenue €183 million; net profit €50 million; total assets €4.432 billion; equity €415 million (Full year 2013)

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• 2007Integration into Intesa SanpaoloM&A

  The merger creating Intesa Sanpaolo brought together the organizations associated with Banca Intesa and Sanpaolo IMI.

  What changed. Carive became a subsidiary of the Intesa Sanpaolo Group on 2 January 2007.

  Aftermath. The Carive name was retained for a period as a local banking identity within the larger group.

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• 2002Merger with Sanpaolo IMIM&A

  Cardine Banca Group entered a further consolidation with Sanpaolo IMI.

  What changed. Carive followed Cardine Banca into the Sanpaolo IMI group.

  Aftermath. The bank became part of the corporate structure that later formed Intesa Sanpaolo.

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• 2000Combination creating Cardine Banca GroupM&A

  The Casse Venete structure was combined with another Italian banking group as consolidation continued in the sector.

  What changed. Carive followed its parent structure into the merger with the Casse Emiliano Romagnole Group that created Cardine Banca Group.

  Aftermath. Carive became part of a larger banking organization and subsequently participated in the 2002 combination with Sanpaolo IMI.

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• 1994Participation in Casse Venete BancaM&A

  Italian savings banks were increasingly being organized into larger groups and holding structures.

  What changed. Carive joined the formation of Casse Venete Banca with other savings banks and Banca Agricola di Cerea.

  Aftermath. The participating banks initially continued operating as separate entities under the new holding-company structure.

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• 1992Separation of banking operations and foundationStrategy

  The Amato banking reform required changes to the traditional structure of Italian savings banks, separating commercial banking activity from charitable functions and ownership.

  What changed. Carive's banking operations were organized as a joint-stock company, while Fondazione Cassa di Risparmio di Venezia was established as the associated banking foundation.

  Aftermath. The reorganization enabled the commercial bank to participate in later banking consolidations while the foundation continued its charitable role.

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• 2014Intesa Sanpaolo absorbs the Carive brand

  Cassa di Risparmio di Venezia was absorbed into its parent company as Intesa Sanpaolo reduced the number of legacy banking brands. Former Carive branches adopted the Intesa Sanpaolo name.

  M&A
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• 2007Cassa di Risparmio di Venezia becomes part of Intesa Sanpaolo

  Following the merger involving Sanpaolo IMI, Cassa di Risparmio di Venezia entered the newly formed Intesa Sanpaolo Group.

  M&A
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1. Cassa di Risparmio di Venezia