View source for Banking in Italy

{{short description|Overview of the banking industry in Italy}}
[[File:UniCredit tower Milan.jpg|thumb|The headquarters of [[UniCredit]] bank in [[Milan]]]]

There are three main types of credit institutions and banks in Italy. [[Commercial banks]], which include three national banks, chartered banks, cooperative banks, and private banks across the country, are the most common. 

However, [[savings banks]] organized on a provincial or regional basis in addition to investment institutions that issue [[Bond (finance)|bonds]] and provide medium- and long-term credit for public works and agriculture provide additional financial services.<ref>{{cite web |title=Overview of Banks in Italy |url=https://corporatefinanceinstitute.com/resources/careers/companies/banks-in-italy/ |publisher=Corporate Finance Institute}}</ref> 

[[Unicredit]] is one of the largest banks in [[Europe]] by capitalization and [[Assicurazioni Generali]] is the seventh largest bank in the world [[List of largest banks|by total assets]].

==History==
[[File:Arco_degli_Argentarii_-_lato_esterno_-_Panairjdde.jpeg|thumb|226x226px|[[Arch of the Argentarii]] in Rome<ref>{{Cite book |last=Fischer |first=Julia C. |url=https://books.google.com/books?id=TtGmDwAAQBAJ&dq=Argentarii&pg=PA98 |title=Art in Rome: From Antiquity to the Present |date=26 July 2019 |publisher=Cambridge Scholars Publishing |isbn=978-1-5275-3752-1 |pages=98–100 |language=en |access-date=2022-08-05 |archive-date=2022-09-12 |archive-url=https://web.archive.org/web/20220912194905/https://books.google.com/books?id=TtGmDwAAQBAJ&dq=Argentarii&pg=PA98 |url-status=live }}</ref><ref>{{Cite book |last=Aicher |first=Peter J. |url=https://books.google.com/books?id=1voLNaL68NwC&dq=Argentarii&pg=PA157 |title=Rome Alive: A Source-Guide to the Ancient City Volume II |date=2004 |publisher=Bolchazy-Carducci Publishers |isbn=978-0-86516-507-6 |pages=157 |language=la |access-date=2022-08-05 |archive-date=2022-09-12 |archive-url=https://web.archive.org/web/20220912194904/https://books.google.com/books?id=1voLNaL68NwC&dq=Argentarii&pg=PA157 |url-status=live }}</ref><ref>{{cite journal |last1=Elsner |first1=Jaś |author1-link=Jaś Elsner |title=Sacrifice and narrative on the Arch of the Argentarii at Rome |journal=Journal of Roman Archaeology |date=2005 |volume=18 |pages=83–98 |doi=10.1017/S1047759400007224 |s2cid=188993120 }}</ref>]]
The [[Etruscan civilization|Etruscans]] and the early Romans did not have true minted coinage for many centuries. Debt and [[Nexum|debt bondage]], however, were probably rife. Wealthy landowners would make an "advance loan" of seed, foodstuffs or other essentials to tenants, clients and smallholders, in return for a promise of labour services or a substantial share of the crop. The terms of such "loans" compelled defaulters to sell themselves, or their dependants, to their creditor; or, if smallholders, to surrender their farm. Wealthy aristocratic Etruscan and Roman landholders thus acquired additional farms and service for very little outlay.<ref>See discussion in Cornell, pp. 281–283</ref> It has been argued that this loan system can be considered an embryonic version of banking as practiced in antiquity.

With the eventual expansion of Roman monetization, a variety of officials came to be associated with [[banking in ancient Rome]]. These were the ''argentarii'', ''mensarii'', ''coactores'', and ''nummulari''; many of these roles were derived from Etruscan practices. The ''argentarii'' were [[money changers]]. The role of the mensarii was to help people through economic hardships, the coactores were hired to collect money and give it to their employer, and the nummulari minted and tested [[currency]]. They offered [[credit|credit systems]] and loans. Between 260 and the fourth century CE Roman bankers disappear from the historical record, likely because of economic difficulties caused by the [[debasement]] of the currency.

[[File:Palazzo Salimbeni, Siena, Headquarters of Monte dei Paschi di Siena, the worlds oldest surviving bank.jpg|thumb|[[Banca Monte dei Paschi di Siena]], founded in 1472, is the world's [[List of oldest banks|oldest or second oldest bank]] in continuous operation.]]

The origins of modern banking can be traced to the [[medieval]] and early [[Italian Renaissance]], to the rich cities in the north like [[Florence]], [[Lucca]], [[Siena]], [[Venice]], and [[Genoa]]. The [[Bardi family|Bardi]] and [[Peruzzi]] families dominated banking in 14th-century Florence, establishing branches in many other parts of [[Europe]].<ref>[[Noble Foster Hoggson|Hoggson, N. F.]] (1926) ''Banking Through the Ages'', New York, Dodd, Mead & Company.</ref> 

One of the most famous Italian banks was the [[Medici Bank]], set up by [[Giovanni di Bicci de' Medici]] in 1397.<ref>Goldthwaite, R. A. (1995) ''Banks, Places and Entrepreneurs in Renaissance Florence'', Aldershot, Hampshire, Great Britain, Variorum</ref> The earliest known state deposit bank, [[Bank of Saint George (Genoa)|Banco di San Giorgio]] (Bank of St. George), was founded in 1407 in [[Genoa]], [[Italy]],<ref>{{cite book |last=Macesich |first=George |url=https://books.google.com/books?id=k1OYMZ8OzMUC |title=Issues in Money and Banking |date=30 June 2000 |publisher=Praeger Publishers ([[Greenwood Publishing Group]]) |isbn=978-0-275-96777-2 |location=[[Westport, Connecticut]] |page=42 |chapter=Central Banking: The Early Years: Other Early Banks |quote=The first state deposit bank was the Bank of St. George in Genoa, which was established in 1407. |access-date=2009-03-12 |chapter-url=https://books.google.com/books?id=k1OYMZ8OzMUC&pg=PA42}}</ref> 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 Italian government formed the [[Bank of Italy]], the nation's first [[central bank]], as part of massive reforms to the banking sector.<ref>{{cite web |last1=Gigliobianco |first1=Alfredo |last2=Giordano |first2=Claire |title=No. 5 - Economic Theory and Banking Regulation: The Italian Case (1861-1930s) |url=https://www.bancaditalia.it/pubblicazioni/quaderni-storia/2010-0005/index.html?com.dotmarketing.htmlpage.language=1 |access-date=5 August 2021}}</ref>

==List of banks by total assets==
{{main|List of banks in Italy}}
[[File:Grattacielo_Intesa_San_Paolo_-_panoramio_(3).jpg|thumb|The headquarters of [[Intesa Sanpaolo]] bank in [[Turin]]]]

Italy had 11 banking groups (excluding banking group that owned by foreign banks) that were supervised by the European Central Bank directly. According to Mediobanca, the overall number of banks and credits institutions in Italy stands at 439 in 2022, which is a sharp decrease from the 740 that were operating in 2011.<ref name=mbres/> 

However, ECB considered [[ICCREA Banca]], the clearing house of Italian cooperative banks federation as one banking group, which the publication of Mediobanca considered the cooperative banks are individual entities, such as [[Banca di Credito Cooperativo di Roma]] was ranked 22nd in the publication, while ICCREA Banca and Bank of Italy were excluded from the publication.

The following is a list of the main Italian banks ranked by total assets and [[risk-weighted assets]].
{{updated|December 2022|<ref name=mbres>{{cite web|url=https://www.statista.com/statistics/693548/leading-banks-assets-italy/|date=September 2021|access-date=20 December 2023|title=Largest Italian banks in 2020, by total assets}}</ref>}} 
{| class="wikitable"
! Rank (by Mediobanca) !!  Company !! Total Assets (billion €) !! RWAs (thousands €) !! Type
|-
| {{nochange}} 1 ||  [[Intesa Sanpaolo]] || {{increase}} 975.68 || || domestic systemically important bank;<ref name=bankofitaly>{{cite press release|url=https://www.bancaditalia.it/compiti/stabilita-finanziaria/politica-macroprudenziale/identificaz-gruppi-bancari-2017/index.html?com.dotmarketing.htmlpage.language=1|title=Identification of the UniCredit, Intesa Sanpaolo, Banco BPM and Monte dei Paschi di Siena banking groups|date=30 November 2017|access-date=14 November 2018|publisher=Bank of Italy}}</ref> supervised by European Central Bank<ref name=ECB/>
|-
| {{nochange}} 2 ||  [[UniCredit]] || {{increase }} 857.77 || || global systemically important bank (Bucket 1) identified by [[Financial Stability Board]];<ref>{{cite press release|url=http://www.fsb.org/2017/11/2017-list-of-global-systemically-important-banks-g-sibs/|title=2017 list of global systemically important banks (G-SIBs)|date=21 November 2017|access-date=14 November 2018|publisher=Financial Stability Board}}</ref> supervised by European Central Bank<ref name=ECB/>
|-
| * || [[Bank of Italy]] ||  || || central bank
|-
| {{nochange}} 3 ||  [[Cassa Depositi e Prestiti]] || {{increase}} 400.69  || || national investment bank, majority owned by the [[Ministry of Economy and Finance (Italy)|Ministry of Economy and Finance]]
|-
| * || [[BancoPosta]] division of [[Poste italiane]] ||  ||  || joint-control by Cassa Depositi e Prestiti and the Ministry of Economy and Finance
|-
| * || [[Istituto per il Credito Sportivo]] || || || a subsidiary of the Ministry of Economy and Finance
|-
| {{nochange}} 4 || [[Banco BPM]] || {{increase}} 189.69 || || domestic systemically important bank;<ref name=bankofitaly/> supervised by European Central Bank<ref name=ECB>{{cite web|url=https://www.bankingsupervision.europa.eu/ecb/pub/pdf/ssm.listofsupervisedentities202302.en.pdf|title=List of supervised entities|date=1 January 2023|access-date=20 December 2023|publisher=European Central Bank|pages=12–}}</ref>
|-
| {{increase}} 5 || [[BPER Banca]] || {{increase}} 152.3  || || supervised by European Central Bank<ref name=ECB/>
|-
| {{nochange}} 6 ||  [[Banca Monte dei Paschi di Siena]] || {{increase}} 120.24 || ||  domestic systemically important bank;<ref name=bankofitaly/> supervised by European Central Bank,<ref name=ECB/> minority owned by Ministry of Economy and Finance (legacy of the 2017 bailout)
|-
| {{nochange}} 7 || [[Banca Nazionale del Lavoro]]  || {{increase}} 104.09 || || subsidiary of [[BNP Paribas]] 
|-
| {{decrease}} 8 ||  [[Mediobanca]] || {{increase}} 93.74 || || supervised by European Central Bank<ref name=ECB/>
|-
| {{nochange}} 9 || [[Crédit Agricole Italia]] || {{decrease}} 58.42 ||  || subsidiary of [[Crédit Agricole]] 
|-
| 10 || [[Banca Mediolanum]] || {{increase}} 73.6 ||  || Also an leading insurance company, supervised by European Central Bank
|-
| 11 || [[Credito Emiliano]] || {{increase}} 65.04 ||  || supervised by European Central Bank<ref name=ECB/>
|-
| 12 || [[Banca Popolare di Sondrio]] || {{increase}} 53.30 || || supervised by European Central Bank<ref name=ECB/>
|-
| * || [[ICCREA Banca]] || {{decrease}} 38.12 <ref name=iccrea>{{cite book|url=http://www.gruppobancarioiccrea.it/DocumentiBilanciRating/BILANCIO%20CONSOLIDATO%2008.06.18_low%20(2).pdf|title=2018 Bilancio Consolidato|trans-title=2018 Consolidated financial report|date=18 June 2018|access-date=14 November 2018|publisher=ICCREA Banca|language=Italian}}</ref>{{rp|375}} || {{nochange}} 12,834,414<ref name=iccrea/>{{rp|30}} || clearing house owned by 300+ regional banks, supervised by European Central Bank<ref name=ECB/>
|-
|-
| 13 || [[Deutsche Bank (Italy)]] || {{nochange}} {{0}}23.93 ||  || subsidiary of [[Deutsche Bank]] AG 
|-
| 14 || [[Banco di Desio e della Brianza]] || {{increase}} {{0}}13.98 ||  ||
|-
| 15 || [[Banca Sella Group]] || {{increase}} {{0}}13.97 ||  ||
|-
| 16 || [[Banca di Credito Cooperativo di Roma]] || {{increase}} {{0}}11.59 || || Will be part of ICCREA Banca Group as shareholder
|-
| 17 || [[Cassa di Risparmio di Asti]] || {{decrease}} {{0}}11.51 || ||
|}

:'''Note''': Banks with assets less than €10&nbsp;billion were omitted from this wiki list. Barclays Bank, Italian branch was also excluded

==See also==
{{Portal|Banks|Economy|Italy}}
*[[Economy of Italy]]
*[[Economic history of Italy]]
*[[History of coins in Italy]]
*[[List of banks in Italy]]

==References==
{{reflist}}

== External links ==
*[http://bankingitaly.com Major banks in Italy]

{{Banking in Italy}}
{{Europe topic|Banking in}}
{{Economy of Italy}}
{{Italy topics}}

[[Category:Banking in Italy| ]]