Cassa di Risparmio della Repubblica di San Marino
Encyclopedia
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.
It also owns Kovanica d.d., a bank based in Varazdin
, Croatia
, which became a subsidiary of the bank as of January 24, 2007.
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.
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.
San Marino
San Marino, officially the Republic of San Marino , is a state situated on the Italian Peninsula on the eastern side of the Apennine Mountains. It is an enclave surrounded by Italy. Its size is just over with an estimated population of over 30,000. Its capital is the City of 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.
It also owns Kovanica d.d., a bank based in Varazdin
Varaždin
Varaždin is a city in north Croatia, north of Zagreb on the highway A4. The total population is 47,055, with 38,746 on of the city settlement itself . The centre of Varaždin county is located near the Drava river, at...
, Croatia
Croatia
Croatia , officially the Republic of Croatia , is a unitary democratic parliamentary republic in Europe at the crossroads of the Mitteleuropa, the Balkans, and the Mediterranean. Its capital and largest city is Zagreb. The country is divided into 20 counties and the city of Zagreb. Croatia covers ...
, which became a subsidiary of the bank as of January 24, 2007.
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.
On July 29, 2008, the bank filed a lawsuit in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
’s High Court
High Court of Justice
The High Court of Justice is, together with the Court of Appeal and the Crown Court, one of the Senior Courts of England and Wales...
against Barclays PLC
Barclays plc
Barclays PLC is a global banking and financial services company headquartered in London, United Kingdom. As of 2010 it was the world's 10th-largest banking and financial services group and 21st-largest company according to a composite measure by Forbes magazine...
, 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.