Record #00202Economy archive
World's Oldest Bank Still in Operation
Banca Monte dei Paschi di Siena traces its origins to a charitable lending institution (Monte Pio) established by the Republic of Siena in 1472, and describes itself as the world's oldest bank still in operation.
ARCHIVE VISUAL / 01
NOT TO SCALE
Current Record
1472year
Current record value
- Start date
- 1472
- Record status
- Verified · currentReport an issue
Overview
Archive NoteThe bank originated in the Monte Pio established by the General Council of the Republic of Siena on 27 February 1472, formally approved by the Council of the Campana on 4 March 1472 with 196 votes in favour and 14 against.
Its immediate antecedent is the charitable lending tradition regulated by the Statuto dei Paschi written in 1419; the founding of the institution in 1472 marks the start of its existing corporate lineage.
The bank took its present form in 1624, and in 1784 the Monte Pio and the Monte dei Paschi were merged into the Monti Riuniti.
It is now one of the major Italian banking groups, headquartered in Siena at Palazzo Salimbeni.
Record history
1 Milestones- 1472 yearBanca Monte dei Paschi di SienaSiena, ItalyCurrent Record
Sources
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