Cassa di Risparmio di Calabria e Lucania

Cassa di Risparmio di Calabria e Lucania S.p.A. (Carical) was an Italian bank based in Cosenza, Calabria. The bank was merged with other banks to form Banca Carime.

Cassa di Risparmio di Calabria was found on 24 September 1861. The bank later extended to Lucania (Basilicata region), as Cassa di Risparmio di Calabria e di Lucania. From March 1987 to July 1988 the bank was under special administration by the state, which was recapitalized later.

In 1992 the bank formed a new subsidiary Cassa di Risparmio di Calabria e Lucania S.p.A. (limited company), with the original statutory corporation became Fondazione Cassa di Risparmio di Calabria e di Lucania, a banking foundation. The bank was 50% owned by the foundation and 50% other shareholders (Banca CRT 16.7%, Cariplo 16.7%, ICCRI, Caripuglia, Sicilcassa and others). However, a new sub-holding Fincarical was incorporated, which the foundation and Cariplo transferred their stake into the sub-holding in a 75-25 ratio.

A recapitalization of the bank was also planned immediately: 160 billion lire (share premium reserve increased 80 billion and share capital increased from 240 to 320 billion), which Fincarical also recapitalized for the same amount (share capital increased from 160 to 240 billion lire; plus 80 billion increase in shares premium reserve) by Cariplo. If the other shareholders did not participated in the capital increase of the bank, the ratio would become Fincarical owned 75% stake, followed by Banca CRT (12.5%), ICCRI (6.25%), Caripuglia, Sicilcassa and others. On 24 February 1994 Fincarical bought Banca CRT's stake, making the sub-holding owned 87.25% stake of Carical . In late 1994 the foundation sold all the share in Fincarical (42.9%) to Cariplo. At the same time the foundation acquired their stake in Carical from Fincarical, making the bank was majority owned by Cariplo (49.8%) and foundation (37.5%) directly.