Cassa di Risparmio della Repubblica di San Marino

Cassa di Risparmio della Repubblica di San Marino
Società per azioni
Industry Financial services
Founded 1882
Founder Julius Bär
Headquarters San Marino
Products Private banking, wealth management, asset management
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

  1. ↑ “Fitch Rates Cassa di Risparmio della Repubblica di San Marino ‘A-’; Stable Outlook,” Fitch Ratings 27 November 2006
  2. ↑ "Banka Kovanica d.d," BusinessWeek Investing Snapshot
  3. 1 2 “It's San Marino v. Barclays,” Wall Street Journal, July 29, 2008
  4. ↑ “San Marino Bank Sues Barclays,” Financial Times, July 29, 2008

External links



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