Cassa di Risparmio di Cento S.p.A. History and Banking

Cassa di Risparmio di Cento S.p.A. has a rich history dating back to 1836, when it was founded in the city of Cento, Italy.

The bank's early years were marked by significant growth, with the institution expanding its services to cater to the needs of the local community.

In the late 19th century, the bank underwent a series of mergers and acquisitions, which ultimately led to its transformation into a joint-stock company.

Cassa di Risparmio di Cento S.p.A. has a long-standing commitment to providing financial services to its customers, with a focus on personalized banking and community involvement.

Worth a look: Cassa Depositi E Prestiti

The Cassa di Risparmio di Cento has a rich history dating back to 1844 when it was founded in Cento, in the Papal States. It was initially open to the public on March 27, 1859.

The bank's operations and ownership were split in 1991 due to the Legge Amato, resulting in a società per azioni and a banking foundation, Fondazione Cassa di Risparmio di Cento.

Today, the bank is still majority-owned by the foundation, with a minority shareholder, Casse Emiliano Romagnole, owning 20% of the shares until 1997.

The bank was founded on April 26, 1844, in Cento, within the Papal States, and opened to the public on March 27, 1859.

In 1991, the bank underwent a significant change, splitting its daily banking operations and ownership into a società per azioni and Fondazione Cassa di Risparmio di Cento, a banking foundation. This foundation still holds a majority stake in the bank through direct and indirect ownership.

The bank initially had a single branch, which remained the only one until the 1920s, when it began to expand. This growth accelerated in the 1980s, with the liberalization of branches leading to the current 47 branches in the provinces of Ferrara, Modena, Bologna, and Ravenna.

Here's a brief timeline of the bank's ownership changes:

In 2017, the bank's Cet1 ratio, a key indicator of its solidity, stood at 13.52%, exceeding the requirements of the European Central Bank. The same year, the bank collected €1.5 billion, with a third of that coming from its insurance arm, Vita.

The Banking Foundation played a significant role in the bank's history, with Fondazione Cassa di Risparmio di Cento holding an equity of €56 million as of 31 December 2013.

The foundation was established in 1859, making it one of the oldest banks in the area. It was also a sponsor of Prize Cento, a prestigious literary prize.

Here are some key facts about the Banking Foundation:

Cassa di Risparmio di Cento S.p.A. is based in Cento, Emilia-romagna. This is a significant fact that can help you locate the company's headquarters.

The location of Cento, Emilia-romagna is a key piece of information for anyone looking to visit or contact the company.

The Fondazione Cassa di Risparmio di Cento has made a significant acquisition. They've purchased a preparatory sketch/study by Ubaldo Gandolfi with Saints Sebastian and Roch.

This work was previously owned by private individuals and was only exhibited in public in 1987. It's a rare example of Gandolfi's art, and it's been a long time coming back to Cento.

The painting is the only known pictorial evidence of the disappeared altarpiece from the Church of Ss. Sebastian and Roch in Cento. It's a significant recovery for the foundation and the community.

The great quality of execution and conservation of the work convinced the foundation to proceed with its purchase. This aligns with their cultural activity aims in the territory.

After a long period of absence, a testimony of a great masterpiece by Ubaldo Gandolfi returns to Cento, albeit in a reduced format.