ChiantiBanca also leaves and submits an application to the Bank of Italy to be able to exercise the way-out, envisaged by the recent reform of the CCBs, to transform itself into a joint stock company and avoid joining the parent company of the cooperative credit led by Federcasse, on which on 31 last May, criticism from the Governor of the Bank of Italy Ignazio Visco had rained down.
The decision of ChiantiBanca, chaired by a banker of the authority of Lorenzo Bini Smaghi (former member of the board of the ECB and current president of the French Societé Generale), is particularly important because it signals that the two major CCBs in Tuscany (the other is the Bcc di Cambiano) made the same choice and decided to take a path that perhaps in the future could bring them even closer together but which already now goes in the direction of the spa and places them in a completely independent perspective from Federcasse, with respect to whose centralism the dissatisfaction of the grassroots is growing, also testified by the intention of 15 other CCBs to form a group of their own.
ChiantiBanca was able to take the way-out because it has assets of more than 200 million euros and because, as required by law, it is ready to pay 20% to become independent. A considerable burden but freedom of management is more important.
