from the banking foundation. On 31 December 1997 Fincarime was renamed into Banca Carime, which Carical, Caripuglia and Carisal started to inject their bank business into the new company. In May 1999, Carical was absorbed by Cariplo. Banking foundation Fondazione Cassa di Risparmio di Calabria e di Lucania is a charity organization based in Cosenza, Calabria. It was the parent company of the bank in 1992, due to the spin off of the banking activities as a separate Società per Azioni. However, since the foundation sold the bank in 1997, as well as the bank was absorbed by UBI Banca in 2017, the foundation became the only heir of the original banking-charity entity that formed in 1861. As at 31 December 2016, the foundation had a stakeholders' equity of €80 million. The foundation was the minority shareholder of Cassa Depositi e Prestiti and CDP Reti. Some of the assets of the foundation was managed by UBI Pramerica SGR, a joint venture of UBI Banca and Pramerica Financial, with the foundation only acted as the unit holder in the private equity fund. References External links Official website of Fondazione Cassa di Risparmio di Calabria e Lucania Defunct banks of Italy Cariplo acquisitions Banks established in 1861 Italian companies established in 1861 Banks disestablished in 1997 Italian companies disestablished in 1997 Companies based in Calabria Cosenza