Cassa di Risparmio della Repubblica di San Marino
| Company type | Società per azioni |
|---|---|
| Industry | Financial services |
| Founded | 1882 |
| Founder | Julius Bär |
| Headquarters | San Marino |
| Products | Private banking, wealth management, asset management |
| Revenue | 15,454,000 Euro (2017)  |
| −39,170,000 Euro (2017) | |
| Website | http://www.carisp.sm/ |
Cassa di Risparmio della Repubblica di San Marino is a financial institution based in San Marino. It consists of 16 branches and operates as both a retail and commercial bank for San Marino citizens and as an offshore private bank for non-resident clients. [1] It also owns Kovanica d.d., a bank based in Varaždin, Croatia, which became a subsidiary of the bank as of January 24, 2007.[2]
Founded in 1882, it is San Marino's oldest financial institution. With a 2007 net income of €7.2 million, it is San Marino's largest bank.[3]
On July 29, 2008, the bank filed a lawsuit in London's High Court against Barclays PLC, seeking damages totaling €170m for the sale of customised securities that carried a higher risk than the bank claimed to have understood. The bank's suit also stated Barclays sold it investments that it ultimately didn’t need.[3][4]
References
- ^ “Fitch Rates Cassa di Risparmio della Repubblica di San Marino ‘A-’; Stable Outlook,” Fitch Ratings 27 November 2006
- ^ "Banka Kovanica d.d," BusinessWeek Investing Snapshot
- ^ a b “It's San Marino v. Barclays,” Wall Street Journal, July 29, 2008
- ^ “San Marino Bank Sues Barclays,” Financial Times, July 29, 2008
External links
- Cassa di Risparmio della Repubblica di San Marino website — (in Italian and English).
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