Banking in Italy

File:Arco_degli_Argentarii_-_lato_esterno_-_Panairjdde.jpeg in Rome{{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 }}{{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 }}{{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 }}]]

The Etruscans and the early Romans did not have true minted coinage for many centuries. Debt and 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.See discussion in Cornell, pp. 281–283 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 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, 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.Hoggson, N. F. (1926) Banking Through the Ages, New York, Dodd, Mead & Company.

One of the most famous Italian banks was the Medici Bank, set up by Giovanni di Bicci de' Medici in 1397.Goldthwaite, R. A. (1995) Banks, Places and Entrepreneurs in Renaissance Florence, Aldershot, Hampshire, Great Britain, Variorum The earliest known state deposit bank, Banco di San Giorgio (Bank of St. George), was founded in 1407 in Genoa, Italy,{{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}} 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.{{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}}

{{main|List of banks in Italy}}

File:Grattacielo_Intesa_San_Paolo_-_panoramio_(3).jpg 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.

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|{{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}}}}

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

{{Portal|Banks|Economy|Italy}}

• Economy of Italy
• Economic history of Italy
• History of coins in Italy
• List of banks in Italy

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• [http://bankingitaly.com Major banks in Italy]

{{Banking in Italy}}

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{{Economy of Italy}}

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