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Cassa di Risparmio del Veneto

The Cassa di Risparmio del Veneto was born on 25 September 2008 from the integration of the Cassa di Risparmio di Padova e Rovigo branches with the Intesa Sanpaolo branches in the Veneto region. The Cassa di Risparmio di Padova e Rovigo, the oldest Cassa di Risparmio (savings bank) in Italy, traces its origins back to the credit institutes opened in 1822 in the Veneto region, then part of the Habsburg empire, modeled on the numerous Austrian savings banks which for some time had played an important social and economic role. On February 12th of 1822, according to an "instruction" issued by the governor of Venice to celebrate the birthday of Emperor Francis I, the Casse di Padova and Rovigo were set up (separately) in the buildings of the Monti di Pietà, which had offices in every provincial capital.

These savings banks were opened mainly as a philanthropic gesture in a period of history wracked by famine and economic recession: they were founded in the hope, as was reported in Padua at the time in the words of the Charity Congregation:

"that a provident Institution, known as a Cassa di Risparmio, may be created to offer both the wealthy and less well off the prospect of advantageously and safely placing even the smallest of profits from their particular business and earning annual interest on them".

The two Casse di Padova and Rovigo gradually moved into different areas from that of the Monti di Pietà, and they developed independently for almost a century until, aware of the changing economic situation, they joined forces to contribute more effectively to the development needs of their respective regions. And so on November 8th 1928 a merger was enacted, creating the Cassa di Risparmio di Padova e Rovigo (note the singular Italian "Cassa" instead of "Casse"). Today, links with the bank's historical origins are still visible in Padua in the form of the Palazzo del Monte di Pietà. This prestigious example of 16th-century architecture, designed by Gianmaria Falconetto, symbolizes the role and function of the Cassa di Risparmio di Padova e Rovigo, which has always been part of the social, economic and cultural evolution of the area. The building forms one side of Padua's central Piazza del Duomo and rises next to the splendid Battistero (baptistery). Among other artworks, the Battistero is home to the cycle of 14th-century frescoes by Giusto de' Menabuoi, which were recently restored by the bank. In terms of history and art, the Palazzo del Monte di Pietà has become the natural setting for major cultural events regularly organized by the bank.

More recently, a process of expansion into neighboring provinces has taken place, and in 1994 the season of alliances and mergers with other banking and finance organizations got under way with the aim of creating more competition and offering a wider range of services to customers. Together with the Cassa di Risparmio di Venezia and the Banca Agricola di Cerea, the 'Casse Venete' (Veneto savings banks) Group was formed, which later expanded to include the Cassa di Risparmio di Udine e Pordenone and the Cassa di Risparmio di Gorizia. Casse Venete then merged with the CAER Group (comprising the Cassa di Risparmio in Bologna and the Banca Popolare dell'Adriatico), creating the Cardine Group which, in 2002, itself merged with the Sanpaolo IMI Group. On June 1st 2003 the Banca Agricola di Cerea, a credit institute based in Verona with 18 branches, was merged with the Cassa di Risparmio di Padova e Rovigo as part of the process to rationalize and enhance the Sanpaolo IMI Group's distribution network.

In its area, the Cassa di Risparmio del Veneto today is a modern regional bank with a network offering a complete range of traditional services as well as the most advanced on-line banking products.

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