Banca Monte dei Paschi di Siena
Management
Fabrizio Viola (CEO) Alessandro Profumo ( Chairman )
Banca Monte dei Paschi di Siena SpA (MPS ) is one of the largest banks in Italy and is considered the oldest surviving bank in the world.
The Central Bank is housed in the Palazzo Salimbeni in the center of Siena in Tuscany. In addition to traditional banking services and insurance services are offered. Monte dei Paschi is active, with around 32,800 employees throughout Italy and worldwide. The bank is among others involved in the Banca Toscana, in Banca Agricola Montovana, in Banca Popolare di Spoleto and in Banca Monte Parma.
The bank is in possession of important art collections of the 14th to the 19th century.
History
The bank was founded in 1472 in Siena as Monte di Pietà pawnshop (or Monte Pio ) and received the current name in 1624. It served the subsidized provision of microcredit. 1568 there was a first reform. 1624 the statutes were changed again. Grand Duke Ferdinand II secured the bank with government revenue from the domain pasture in Maremma, the so-called Paschi. At the same time the house expanded its activities to areas outside of Siena in Tuscany. With the founding of Italy, it was considered one of the foundations to finance government spending and saw the first floor of loans ( credito fondiario ). Between 1907 and 1930, a branch office in Empoli, Florence, Perugia, Naples and Rome. At the same time the Monte supported the creation of the Banca Toscana.
1936, the Bank received a new statute that made ( Istituto di credito pubblico di diritto ) made her a credit institution according to the time of his constitutional law, and the claimed validity with few changes until 1995.
After the Second World War, the expansion achieved in the major financial centers of New York, Singapore, Frankfurt and London. 1990 to 1994, the bank was the first in Italy to settle the banking - insurance business. These arose Montepaschi Vita. In addition, she earned Mediocredito Toscano and the Istituto Nazionale per il Credito Agrario. These two areas for medium and long-term loans were summarized as MPS Banca per l' Impresa. These purchases shares of foreign banks in Belgium, Switzerland and France.
On 8 August 1995, the Minister of Finance ( Ministro del Tesoro ) decreed the establishment of two institutions, namely the Fondazione Monte dei Paschi di Siena and Banca Monte dei Paschi di Siena SpA. Banca was responsible for insurance and banking, the Foundation, however, for charitable, but also scientific and educational projects for health and art projects. Core region is the city of Siena and the province of the same name.
1999, the Bank went to the Milan Stock Exchange. In the years 2000 to 2005, she acquired several banks with strong local bond such as the Banca Agricola Mantovana, with a focus on Mantua. In 2007 she bought 55% of the specialized small and medium enterprises Biverbanca - Cassa di Risparmio di Biella e Vercelli, which had about 700 employees and 105 branches in Piedmont, Lombardy, Lazio and in the Aosta Valley. In 2008, she acquired the Banca Antonveneta, where bribes were paid, and the core increasingly focused on corporate loans and issues of corporate finance.
As part of the European financial crisis came the " Monte dei Paschi " in financial difficulties, caused by risky and partly shady dealings, and had several billion euros state aid are supported. In this regard, there has also been criticism of ECB chief Mario Draghi, who was head of the Italian central bank and thus the highest bank inspector of the country during the relevant period.
The bank took a government rescue loan of 4.1 billion euros in claim, which is, however, associated with it, to transform itself into a state involvement, if it should not succeed until 2014 the bank to realize a capital increase of EUR 3 billion. The shareholders approved, on the recommendation of the management of this capital increase in January 2014 on the last weekend in 2013, but the Foundation has accepted this solution only for the period after May 12, 2014 because they want to take the meantime, for sale or to reduce their share.
Shareholder
- 34.94 % - Monte dei Paschi di Siena - Foundation
- 4.000% - Francesco Gaetano Caltagirone (Italian billionaire )
- 3.590 % - AXA S. A.
- 2.730 % - Unicoop Firenze Società Cooperativa
- 2.530 % - JPMorgan Chase & Co.
- 52.21 % - free float
Source:
Publications
- Sienese painting from the 13th to the 16th century, 1953