Cassa di Risparmio della Repubblica di San Marino

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. [ [http://64.233.169.104/search?q=cache:ZvEzmG9KtjwJ:www.carisp.sm/carisp/export/sites/default/it/sezioni/media_kit/press/archivio/download/Comunicato_stampa_rating_fitch.pdf+%22Cassa+di+Risparmio+della+Repubblica+di+San+Marino%22&hl=en&ct=clnk&cd=2&gl=us “Fitch Rates Cassa di Risparmio della Repubblica di San Marino ‘A-’; Stable Outlook,” Fitch Ratings 27 November 2006] ] It also owns Kovanica d.d., a bank based in Varazdin, Croatia, which became a subsidiary of the bank as of January 24, 2007. [ [http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?capId=31342058 "Banka Kovanica d.d," BusinessWeek Investing Snapshot] ]

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. [http://online.wsj.com/article/SB121726732612990423.html?mod=googlenews_wsj “It's San Marino v. Barclays,” Wall Street Journal, July 29, 2008] ]

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. [ [http://ftalphaville.ft.com/blog/2008/07/29/14772/san-marino-bank-sues-barclays/ “San Marino Bank Sues Barclays,” Financial Times, July 29, 2008] ]

References

External link

* [http://www.carisp.sm Cassa di Risparmio della Repubblica di San Marino web site (in Italian and English)]