Banca Tercas

Banca Tercas, formerly known as Cassa di Risparmio della Provincia di Teramo was an Italian savings bank based in Teramo, Abruzzo. On 1 January 2011 the bank purchased fellow savings bank Banca Caripe from Banco Popolare. The enlarged banking group was also referred as Tercas Caripe. However, Tercas was acquired by Banca Popolare di Bari (BP Bari) in 2014, which in turn Tercas and Caripe became part of the BP Bari Group as divisions. A spin off organization of the bank, Fondazione Cassa di Risparmio della Provincia di Teramo or Fondazione Tercas, still operates as a charity organization and independent from Banca Popolare di Bari.

Banca Tercas
Native name
Banca Tercas
Formerly
  • Cassa di Risparmio della Provincia di Teramo
  • Tercas S.p.A.
TypeDivision (former subsidiary)
IndustryFinancial services
Predecessor
  • Casse di Risparmio di Atri
  • Casse di Risparmio di Nereto
Founded
  • 12 October 1939 (1939-10-12)
  • 24 June 1992 (1992-06-24) (spin off)
Defunct2016 (as company)
Fatemerged into parent company as a division
Successor
Fondazione Tercas(charity function only, since 1992)
Division of Banca Popolare di Bari(banking activities)
Headquarters36 Corso San Giorgio,
Teramo
,
Italy
Area served
  • Abruzzo
  • Molise (Campomarino & Termoli)
  • Marche
  • Emilia (Bologna & Modena)
  • Romagna (Forlì & Cesena)
  • Lazio (Rome & Tivoli)
 (2014)
Total assets€2,869 million (2014)
Total equity€0154 million (2014)
OwnerBanca Popolare di Bari
ParentBanca Popolare di Bari (100%)
SubsidiariesBanca Caripe (99.979%)
Capital ratio7.025% (Tier 1)
Websitewww.tercas.it
Footnotes / references
Data in separate balance sheet[1]

History

Cassa di Risparmio della Provincia di Teramo was found on 12 October 1939[2] (date of royal decree) by the merger of Casse di Risparmio di Atri and Casse di Risparmio di Nereto. On 24 June 1992, the bank was split into Tercas S.p.A. and a banking foundation. The banking foundation owned 80% shares of the società per azioni (company limited by shares), while one of the leading savings bank Cassa di Risparmio delle Provincie Lombarde (Cariplo) owned the rest of shares or 20%.[3] Cariplo also owned 20% shares of fellow Abruzzo-based savings banks Carichieti and Caripe.

In October 2006 Banca Tercas S.p.A. was founded. The banking foundation sold 15% shares they owned to the public.[4] Banca Intesa, the successor of Cariplo, retained their 20% shares.[5] In 2007 Intesa Sanpaolo, the successor of Banca Intesa, sold their 20% shares on Banca Tercas for €89 million to other investors.[6][7] Creval was a minority shareholders of the bank for 7.8%.

On 1 January 2011 Banca Tercas acquired the controlling interests of Banca Caripe (95%) for €228 million from Banco Popolare.[8] Fondazione Pescara Abruzzo, the banking foundation which originated from Caripe, owned 3.5% shares of Banca Tercas as well as 5% of Banca Caripe.[9]

Special administration

From 2012 to 30 September 2014, Banca Tercas was under special administration.[10] As at 31 December 2011, the bank had a shareholder's equity of €339.098 million (in consolidated balance sheet), as well as Tier 1 capital ratio of just 5.82% (in Basel II basis).[11] During the special administration, Fondo Interbancario di Tutela dei Depositi (FITD) contributed €265 million to the bank as capital.

acquired by Banca Popolare di Bari

In November 2013 Banca Tercas was acquired by Banca Popolare di Bari (BP Bari).[12] BP Bari subscribed the entire capital increase of Banca Tercas for €230 million. After the capital increase, Banca Tercas had a CET1 capital ratio of 8.052%, in separate balance sheet at 30 September 2014 (Basel III basis).[13] However, the ratio was fell back to just 7.025% as at 31 December 2014. (which the Bank of Italy required a minimum 4.5% that must maintained all the time, plus 2.5% buffer that should be restore as soon as possible) [1]

In December 2015 European Commission ruled that the bail-out of Banca Tercas by FITD was a state aid, requesting the bank to return the aid to the deposit guarantee fund.[14] FITD then set up a voluntary intervention mechanism to allow the member banks of FITD voluntary to inject capital again to Tercas for €271,868,990.25 and other banks.[15][16]

At the same time, Banca Tercas S.p.A. was absorbed into BP Bari. Banca Tercas ceased to be a separate legal entity and became a division.

Banking foundation

Fondazione Cassa di Risparmio della Provincia di Teramo or Fondazione Tercas is the original legal person of the bank, which became the parent entity of the new legal person of the bank, a società per azioni, from 1992 until the bail-out. The foundation currently a charity organization for the Abruzzo region.

Sponsorship

The bank was a sponsor of Teramo Basket.

See also

References
  1. "2014 Bilancio individuale" (PDF) (in Italian). Banca Tercas. 10 April 2015. Archived from the original (PDF) on 2016-03-08. Retrieved 13 February 2016.
  2. "La storia" (in Italian). Banca Tercas. Archived from the original on 2016-01-23. Retrieved 12 February 2016.
  3. "Approvazione del progetto di ristrutturazione presentato dalla Cassa di risparmio della provincia di Teramo". Gazzetta Ufficiale. 16 July 1992. Retrieved 8 March 2016.
  4. "Fondazione Tercas | Presentazione".
  5. "Archived copy" (PDF). Archived from the original (PDF) on 2010-01-20. Retrieved 2016-03-08.{{cite web}}: CS1 maint: archived copy as title (link)
  6. "Archived copy" (PDF). Archived from the original (PDF) on 2010-01-20. Retrieved 2016-03-08.{{cite web}}: CS1 maint: archived copy as title (link)
  7. "2007 Annual Report". Intesa Sanpaolo. 13 June 2008. Retrieved 8 March 2016.
  8. "Banco Popolare cede a Banca Tercas la Cassa di Risparmio di Pescara per 228 milioni" (in Italian). Banco Popolare. 1 October 2010. Retrieved 13 February 2016.
  9. "2011 bilancio" (PDF) (in Italian). Fondazione Pescara Abruzzo. 24 July 2012. Retrieved 8 March 2016 – via ACRI.
  10. "Banca Tercas spa in amministrazione straordinaria" (in Italian). Banca Tercas. 4 May 2012. Archived from the original on 2016-02-15. Retrieved 11 February 2016.
  11. "2011 Bilancio Consolidato" (PDF) (in Italian). Banca Tercas. 23 April 2012. Archived from the original (PDF) on 2016-03-08. Retrieved 8 March 2016.
  12. "Banche, Popolare di Bari acquisterà controllo Tercas". La Repubblica (Bari edition) (in Italian). Gruppo Editoriale L'Espresso. 6 November 2013. Retrieved 4 December 2018.
  13. "Bilancio al 30 settembre 2014" (PDF) (in Italian). Banca Tercas. 11 March 2015. Archived from the original (PDF) on 2016-03-08. Retrieved 8 March 2016.
  14. SA.39451 Aid to Banca Tercas
  15. "2015 Annual Report". Fondo Interbancario di Tutela dei Depositi. 29 March 2016. Retrieved 9 April 2016.
  16. Aiuti di Stato, risoluzioni bancarie e FITD (in Italian)
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