The origins

Fondazione Cariplo picked up where its predecessor, Cassa di Risparmio delle Provincie Lombarde (Savings Bank of the Lombard Provinces), left off. In fact, since its establishment in Milan on June 12, 1823, Cassa di Risparmio delle Provincie Lombarde fostered the growth of the local economy, culture and civil society, conducting its activities in accordance with the principles of self-organization and subsidiarity.

Officially, Fondazione Cariplo was set up in December 1991 as part of the reorganization process resulting from the implementation of the Amato-Carli Act for the rationalization and privatization of Italian banks. The foundations that were established as a result of this reorganization process had the mission to carry on the philanthropic activities previously carried out by savings banks.

In January 1998, the de-merger of Fondazione Cariplo and Cariplo Spa (the joint-stock company) was brought to completion and the Foundation embarked on the ambitious business development plan that led to the formation of BancaIntesa, the number one banking group in Italy. The proceeds from this deal enabled Fondazione Cariplo to become one of the world’s top ten foundations by assets. Thanks to the recent merger of BancaIntesa and SanPaolo IMI, Fondazione Cariplo became one of the main shareholders of one of Europe’s leading banking groups.