In 2023, the Crt Foundation (Cassa di Risparmio di Torino) increased the resources provided on the territory, reaching 71 million of Euro. L'financial year closed with a surplus of 121 million euros and a net financial position of 652 million euros, improving compared to 569 million in 2022. net assets reached 2,5 billion euros, +6,6%, while the invested assets it exceeded 3,6 billion euros at market values.
Crt Foundation: stabilization fund increased
Il stabilization fund, aimed at protecting the institutional activity of the CRT Foundation, was increased by 11,2 million euros, bringing it to 169 million euros as of 31 December 2023 (compared to 158 million in 2022). This decision reflects a prudent but flexible and efficient management, which seeks to optimize the combination of profitability and risk control. The approach is oriented towards diversification of the investment portfolio, to the preservation over time of the value of the heritage and the provision of resources for institutional activity, also strengthening the action of the Foundation and its connected bodies.
Crt Foundation: 2023 management results
In 2023, the coupons collected recorded an increase of 28% compared to the previous year, reaching 138,9 million euros, mainly thanks to the increase in flows from UniCredit and Mundys. The negotiation result it rose to 17,5 million euros, +135%, thanks to the management and valorisation of the securities in the portfolio. Overall, i ordinary income they reached 166,6 million euros, among the best results of the last 10 years, excluding extraordinary components present in the previous year.
These positive results have allowed the CRT Foundation to allocate 71 million euros to institutional activity and to make significant provisions to the capital reserves: 24,1 million euros to the mandatory reserve and 18,1 million euros to the reserve for the integrity of the assets, in addition to 4,3 million euros to the Volunteering Fund and 0,2, XNUMX million euros to the National Fund for common initiatives established by ACRI.
Crt Foundation: more than 1.300 projects in the area
In 2023, the CRT Foundation has deliberate resources for a total of 66,9 million euros for institutional activity, adding 4,3 million euros to the Fund for volunteering and 0,2 million euros to the National Fund for ACRI's common initiatives. This made it possible over 1.300 projects in various sectors, spread throughout the territory, with an increase of 8,6% in the average disbursement per deliberate intervention, which rose to 42.000 euros compared to 2022.
Expectations for 2024
The 2023 budget reflects a management solidity that allows the CRT Foundation to project itself optimistically towards the future, with the aim of maintaining a constant disbursement commitment also in 2024. During the year, the Foundation will be actively involved in various areas, including the return to the public of the Temple of Ellesija on the occasion of the Bicentenary of the Egyptian Museum and the completion of the work on the facade of Palazzo Madama.
In line with the DPP directives, the Foundation does will focus on projects aimed at young people, which combine welfare, education and culture, and on initiatives aimed at protecting the hydrogeological structure of the territory and promoting regional agri-food, food and wine excellence.
The Cassa di Risparmio di Torino Foundation recently sold 1,8% of the capital of Banco Bpm, obtaining approximately 140 million euros, and began a series of purchases. Among these, there is a share of Banca del Fucino, a Roman institute founded in 1923 by Giovanni Torlonia and currently led by Francesco Maiolini. The investment amounts to approximately 2 million euros for a 0,7% stake in the Roman bank.
“2023 allowed us to chart the new course of the CRT Foundation, which increased the resources allocated to the territory, while aiming to maintain a stable level of disbursements over time. The objective is to make the CRT Foundation not only a point of reference for initiatives to support Piedmont and the Aosta Valley, but also a safeguard for economic and financial stability that can intervene to support the territory even in the most complex economic phases ” commented the President Fabrizio Palenzona.
