Banca Monte dei Paschi di Siena S.p.A. is the oldest surviving bank in the world and Italy's third largest bank. Founded in 1472 by the magistrate of the city state of Siena, Italy, as a "mount of piety", it has been operating ever since. Today it has approximately 3,000 branches, 33,000 employees and 4.5 million customers in Italy, as well as branches and businesses abroad. A subsidiary, MPS Finance, handles investment banking.The bank's main shareholder is the Fondazione Monte dei Paschi di Siena.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 and from which the bank operates without interruption. It is therefore considered the oldest bank in the world still operating.At the base of its foundation appears to be the "Statuto dei Paschi", written in 1419 for the regulation of all activities related to agriculture and pastoralism in Maremma.Its current form dates from 1624, when Siena was incorporated in the Grand Duchy of Tuscany and the 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.With the unification of Italy, the bank expanded its business throughout the Italian peninsula, initiating new activities, including mortgage loans, the first experience in Italy.In 1995 a decree law of the Ministry of the Treasury of the Italian Republic dated 8 August 1995 gives rise to two institutions: Banca Monte dei Paschi di Siena S.p.A and Fondazione Monte dei Paschi di Siena, a non-profit organization whose purpose is the statutory purpose of providing assistance and charity and social utility in the fields of education, science, health and art, especially with reference to the city and the province of Siena.On 25 June 1999 Banca Monte dei Paschi di Siena was listed successfully in the Italian Stock Exchange.
Net income €985.5 million (2010)
Total assets € 244.3 billion (2010)