The origins of modern banking can be traced to medieval and early

Italian Renaissance The Italian Renaissance ( it, Rinascimento ) was a period in Italian history covering the 15th and 16th centuries. The period is known for the initial development of the broader Renaissance culture that spread across Europe and marked the trans ...

, to the rich cities in the north like

Florence Florence ( ; it, Firenze ) is a city in Central Italy and the capital city of the Tuscany Regions of Italy, region. It is the most populated city in Tuscany, with 383,083 inhabitants in 2016, and over 1,520,000 in its metropolitan area.Bilan ...

Lucca Lucca ( , ) is a city and ''comune'' in Tuscany, Central Italy, on the Serchio River, in a fertile plain near the Ligurian Sea. The city has a population of about 89,000, while its province has a population of 383,957. Lucca is known as one ...

Siena Siena ( , ; lat, Sena Iulia) is a city in Tuscany, Italy. It is the capital of the province of Siena. The city is historically linked to commercial and banking activities, having been a major banking center until the 13th and 14th centur ...

Venice Venice ( ; it, Venezia ; vec, Venesia or ) is a city in northeastern Italy and the capital of the Veneto region. It is built on a group of 118 small islands that are separated by canals and linked by over 400 bridges. The isla ...

and

Genoa Genoa ( ; it, Genova ; lij, Zêna ). is the capital of the Italian region of Liguria and the sixth-largest city in Italy. In 2015, 594,733 people lived within the city's administrative limits. As of the 2011 Italian census, the Province of ...

. The Bardi and

Peruzzi The Peruzzi were bankers of Florence, among the leading families of the city in the 14th century, before the rise to prominence of the Medici. Their modest antecedents stretched back to the mid 11th century, according to the family's genealogist ...

families dominated banking in 14th-century Florence, establishing branches in many other parts of

Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a subcontinent of Eurasia and it is located entirel ...

. One of the most famous Italian banks was the

Medici Bank The Medici Bank (Italian: ''Banco dei Medici'' ) was a financial institution created by the Medici family in Italy during the 15th century (1397–1494). It was the largest and most respected bank in Europe during its prime. There are some estima ...

, set up by Giovanni di Bicci de' Medici in 1397. The earliest known state deposit bank, Banco di San Giorgio (Bank of St. George), was founded in 1407 at

Italy Italy ( it, Italia ), officially the Italian Republic, ) or the Republic of Italy, is a country in Southern Europe. It is located in the middle of the Mediterranean Sea, and its territory largely coincides with the homonymous geographical ...

, while Banca Monte dei Paschi di Siena, founded in 1472, is the oldest surviving bank in the world. In 1893, following the

Banca Romana scandal The ''Banca Romana'' scandal surfaced in January 1893 in Italy over the bankruptcy of the ''Banca Romana'', one of the six national banks authorised at the time to issue currency. The scandal was the first of many Italian corruption scandals, and ...

, the Italian government formed the

Bank of Italy The Bank of Italy ( Italian: ''Banca d'Italia'', informally referred to as ''Bankitalia''), (), is the central bank of Italy and part of the European System of Central Banks. It is located in Palazzo Koch, via Nazionale, Rome. The bank's cur ...

, the nation's first

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central b ...

, as part of massive reforms to the banking sector. There are three main types of credit institutions and banks in Italy.

Commercial banks A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with corp ...

, which include three national banks, chartered banks, cooperative banks, and private banks across the country are the most common. However,

savings banks A savings bank is a financial institution whose primary purpose is accepting savings deposits and paying interest on those deposits. They originated in Europe during the 18th century with the aim of providing access to savings products to all ...

organized on a provincial or regional basis in addition to investment institutions that issue bonds and provide medium- and long-term credit for public works and agriculture provide additional financial services.

Unicredit UniCredit S.p.A. is an international banking group headquartered in Milan. It is Italy's only systemically important bank (according to the list provided by the Financial Stability Board in 2022) and the world's 34th largest by assets. It was fo ...

is one of the largest bank in

by capitalization and

Assicurazioni Generali Assicurazioni Generali S.p.A. ( , ; meaning 'general insurances') or simply Generali Group is an Italian insurance company based in Trieste. As of 2019, it is the largest of its kind in Italy and among the top ten largest insurance companies in ...

is the seventh in the world by total assets.

References

External links

Major banks in Italy
{{Europe-bank-stub

See also

References

External links