Banca Monte dei Paschi di Siena
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Native name
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Banca Monte dei Paschi di Siena S.p.A. |
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| Società per azioni | |
| Traded as | BIT: BMPS |
| ISIN | IT0005218752 |
| Industry | Financial services |
| Predecessor | Monte dei Paschi di Siena |
| Founded |
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| Headquarters | Siena, Italy |
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Number of locations
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 2,133 domestic branches, 40 branches abroad (2015) |
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Key people
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| Services |
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| Profit |
 €388.096 million (2015) |
| Total assets |
€169.01 billion (2015) |
| Total equity |
€9.596 billion (2015) |
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Number of employees
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25,731 (2015) |
| Subsidiaries | MPS Capital Services |
| Capital ratio | 12.01% (CET1) |
| Website | english |
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Footnotes / references in consolidated basis |
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Banca Monte dei Paschi di Siena S.p.A. (Italian pronunciation: [ˈbanka ˈmonte dei ˈpaski di ˈsjɛːna]) (BMPS) is the oldest surviving bank in the world and the third largest Italian commercial and retail bank by total assets, according to research from Ricerche e Studi, using 2014 data. Since the end of 2016, the bank is struggling to avoid a collapse.
Founded in 1472 (544–545 years ago) by the magistrates of the city state of Siena, Italy, as a "mount of piety", it has been operating ever since. In 1995 the bank, then known as Monte dei Paschi di Siena, was transformed from a statutory corporation to a limited company called Banca Monte dei Paschi di Siena (Banca MPS). The Fondazione Monte dei Paschi di Siena was created to continue the charitable functions of the bank and to be, until the bailout in 2013, its largest single shareholder. Today Banca MPS has approximately 2,100 branches, 26,000 employees and 5.3 million customers in Italy, as well as branches and businesses abroad. A subsidiary, MPS Capital Services, handles corporate and investment banking.
Banca Monte dei Paschi di Siena was founded by order of the Magistrature of the Republic of Siena as Monte di Pietà in 1472, when its statute was approved. Since then the bank has been in operation without interruption to the present day. It is therefore considered the oldest bank in the world still operating.
The basis of its foundation is the Statuto dei Paschi, written in 1419, a law that regulated all activities related to agriculture and pastoralism in Maremma.
Its current form dates from 1624, when Siena was incorporated into the Grand Duchy of Tuscany and Grand Duke Ferdinando II granted to depositors of Monte, in their warranty, the income of the state-owned pastures of Maremma (the so-called "Paschi" which gave the bank its name). The bank consolidated and increased its banking activity during the 17th and 18th centuries.
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