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 bonds and provide medium- and long-term credit for public works and agriculture provide additional financial services.[1]

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

History

Banca Monte dei Paschi di Siena, founded in 1472, is the world's 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 and Peruzzi families dominated banking in 14th-century Florence, establishing branches in many other parts of Europe.[2]

One of the most famous Italian banks was the Medici Bank, set up by Giovanni di Bicci de' Medici in 1397.[3] The earliest known state deposit bank, Banco di San Giorgio (Bank of St. George), was founded in 1407 in Genoa, Italy,[4] 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.[5]

List of banks by total assets

The headquarters of Intesa Sanpaolo bank in Turin

Italy had 11 banking group (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, whcih is a sharp decrease from the 740 that were operating in 2011.[6]

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 gross premiums written.

As of December 2022[6]
Rank (by Mediobanca)CompanyTotal Assets (billion €)RWAs (thousands €)Type
Steady 1Intesa SanpaoloIncrease 975.68domestic systemically important bank;[7] supervised by European Central Bank[8]
Steady 2UniCreditIncrease 857.77global systemically important bank (Bucket 1) identified by Financial Stability Board;[9] supervised by European Central Bank[8]
*Bank of Italycentral bank
Steady 3Cassa Depositi e PrestitiIncrease 400.69national investment bank, majority owned by the Ministry of Economy and Finance
*BancoPosta division of Poste italianejoint-control by Cassa Depositi e Prestiti and the Ministry of Economy and Finance
*Istituto per il Credito Sportivoa subsidiary of the Ministry of Economy and Finance
Steady 4Banco BPMIncrease 189.69domestic systemically important bank;[7] supervised by European Central Bank[8]
Increase 5BPER BancaIncrease 152.3supervised by European Central Bank[8]
Steady 6Banca Monte dei Paschi di SienaIncrease 120.24domestic systemically important bank;[7] supervised by European Central Bank,[8] minority owned by Ministry of Economy and Finance (legacy of the 2017 bailout)
Steady 7Banca Nazionale del LavoroIncrease 104.09subsidiary of BNP Paribas
Decrease 8MediobancaIncrease 93.74supervised by European Central Bank[8]
Steady 9Crédit Agricole ItaliaDecrease 58.42subsidiary of Crédit Agricole
10Banca MediolanumIncrease 73.6Also an leading insurance company, supervised by European Central Bank
11Credito EmilianoIncrease 65.04supervised by European Central Bank[8]
12Banca Popolare di SondrioIncrease 53.30supervised by European Central Bank[8]
*ICCREA BancaDecrease 38.12 [10]: 375 Steady 12,834,414[10]: 30 clearing house owned by 300+ regional banks, supervised by European Central Bank[8]
13Deutsche Bank (Italy)Steady 23.93subsidiary of Deutsche Bank AG
14Banco di Desio e della BrianzaIncrease 13.98
15Banca Sella GroupIncrease 13.97
16Banca di Credito Cooperativo di RomaIncrease 11.59Will be part of ICCREA Banca Group as shareholder
17Cassa di Risparmio di AstiDecrease 11.51
Note: Banks with assets less than €10 billion were omitted from this wiki list. Barclays Bank, Italian branch was also excluded

See also

References

  1. ↑ "Overview of Banks in Italy". Corporate Finance Institute.
  2. ↑ Hoggson, N. F. (1926) Banking Through the Ages, New York, Dodd, Mead & Company.
  3. ↑ Goldthwaite, R. A. (1995) Banks, Places and Entrepreneurs in Renaissance Florence, Aldershot, Hampshire, Great Britain, Variorum
  4. ↑ Macesich, George (30 June 2000). "Central Banking: The Early Years: Other Early Banks". Issues in Money and Banking. Westport, Connecticut: Praeger Publishers (Greenwood Publishing Group). p. 42. ISBN 978-0-275-96777-2. Retrieved 2009-03-12. The first state deposit bank was the Bank of St. George in Genoa, which was established in 1407.
  5. ↑ Gigliobianco, Alfredo; Giordano, Claire. "No. 5 - Economic Theory and Banking Regulation: The Italian Case (1861-1930s)". Retrieved 5 August 2021.
  6. 1 2 "Largest Italian banks in 2020, by total assets". September 2021. Retrieved 20 December 2023.
  7. 1 2 3 "Identification of the UniCredit, Intesa Sanpaolo, Banco BPM and Monte dei Paschi di Siena banking groups" (Press release). Bank of Italy. 30 November 2017. Retrieved 14 November 2018.
  8. 1 2 3 4 5 6 7 8 9 "List of supervised entities" (PDF). European Central Bank. 1 January 2023. pp. 12–. Retrieved 20 December 2023.
  9. ↑ "2017 list of global systemically important banks (G-SIBs)" (Press release). Financial Stability Board. 21 November 2017. Retrieved 14 November 2018.
  10. 1 2 2018 Bilancio Consolidato [2018 Consolidated financial report] (PDF) (in Italian). ICCREA Banca. 18 June 2018. Retrieved 14 November 2018.
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