Cassa Depositi e Prestiti

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Cassa Depositi e Prestiti
Type Società per Azioni
Industry Banking
Founded 1850 in Torino
Founder(s) Italian government
Headquarters Rome, Italy, European Union
Area served Italy
Website www.cassaddpp.it

Cassa Depositi e Prestiti (CDP SpA) is an Italian bank founded in 1850 in Torino; after the unification of Italy, in 1863 it was restructured and the headquarters moved to Rome; it was constituted in its current form as a joint-stock company on 12 December 2003. 80.1% of the share capital is owned by the Italian Ministry of Economy and Finance, the 18.4% is held by various bank foundations, while the remaining 1.5% in treasury shares.[1]

The activities of the company are divided into two distinct branches of business. The first, called "separate management", manages the financing of investment and other public bodies, such as regions, other local bodies and structures relating to the State, using postal savings deposits as the main source of funds. [2]

The second, called "ordinary management", deals with the financing of works, plants, networks and equipment intended for the supply of public services and redevelopment.

Unlike postal savings, bonds issued by the Cassa are not guaranteed by the state.[3] It has €17.5 bln assets.[4]

The activity of the company is subject to monitoring by a Parliamentary committee.

References[edit]

  1. ^ "History of CDP". CDP. Retrieved 16 January 2014. 
  2. ^ "Cassa Depositi e Prestiti". Treccani Encyclopedia. Retrieved 26 August 2012. 
  3. ^ "Company Overview of Cassa depositi e Prestiti S.p.A.". Business Week. Retrieved 26 August 2012. 
  4. ^ http://www.cassaddpp.it/static/upload/rel/relazione-finanziaria-semestrale-consolidata-2013--italiano.pdf

External links[edit]