Banca Monte dei Paschi di Siena

"Monte dei Paschi di Siena" redirects here. For the banking foundation, see Fondazione Monte dei Paschi di Siena.
"BMPS" redirects here. For the singular of BMPs, see BMP (disambiguation).

Banca Monte dei Paschi di Siena S.p.A.
Company typePublic (Società per azioni)
BIT: BMPS[1]
ISINIT0005218752
IndustryFinancial services
Founded4 March 1472; 552 years ago (1472-03-04)[2] (as a mount of piety)
Headquarters
Siena
,
Italy
Number of locations
Decrease 1,368 domestic branches; 11 branches abroad (2021)
Key people
Nicola Maione (chairman)
Luigi Lovaglio (CEO)
Services
RevenueIncrease €2.980 billion (2021)
Increase €629.2 million (2021)
Increase €310 million (2021)
Total assetsDecrease €137.868 billion (2021)
Total equityIncrease €6.172 billion (2021)
OwnerMinistry of Economy and Finance (11.7%)
Number of employees
Decrease 21,244 (2021)
Subsidiaries
Capital ratioIncrease 12.5% (CET1, 2021)
Websitewww.gruppomps.it
Footnotes / references
in consolidated financial statement[3]

Banca Monte dei Paschi di Siena S.p.A. (Italian pronunciation: [ˈbaŋka ˈmonte dei ˈpaski di ˈsjɛːna]), known as BMPS or just MPS, is an Italian bank. Tracing its history to a mount of piety founded in 1472 (552 years ago) and established in its present form in 1624 (400 years ago), it is the world's oldest or second oldest bank, depending on the definition, and the fifth largest Italian commercial and retail bank.[4]

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.

According to research by Mediobanca and a press release issued by Banco BPM, Banco BPM overtook BMPS as the third largest commercial banking group in Italy (in terms of total assets) on 31 December 2016, after Banco BPM's formal formation on 1 January 2017.[5][6] In 2016–17, BMPS was struggling to avoid a collapse,[7][8] and it was bailed out again by the Italian government in July 2017.

In 2020, BMPS had approximately 1,400 branches, 21,000 employees and 3.9 million customers[3] in Italy, as well as branches and businesses abroad. A subsidiary, MPS Capital Services, handles corporate and investment banking.[9] It has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.[10][11]

  1. ^ "Azioni BANCA MONTE PASCHI SIENA: Quotazioni in tempo reale | IT0005508921 - Borsa Italiana".
  2. ^ @banca_mps (4 March 2014). "4 marzo 1472 – 4 marzo 2014 Buon compleanno, Banca Monte dei Paschi di Siena" (Tweet) – via Twitter.
  3. ^ a b "Monte dei Paschi di Siena Consolidated Financial Report" (PDF). BMPS. Retrieved 27 June 2021.
  4. ^ "Italy's fourth-biggest bank returns to the stockmarket". The Economist. 26 October 2017.
  5. ^ "Results as at 31 December 2016" (PDF). Banco BPM. 10 February 2017. Archived from the original (PDF) on 14 February 2017. Retrieved 13 February 2017.
  6. ^ "LE PRINCIPALI BANCHE ITALIANE [2017]" (PDF) (in Italian). Mediobanca. 24 October 2017. Archived from the original (PDF) on 28 October 2017. Retrieved 13 February 2017.
  7. ^ "World's oldest bank scrambles to raise 5 bn euros to avert collapse". Reuters. 12 December 2016 – via Business Standard.
  8. ^ Stevenson, Abigail (22 December 2016). "Cramer: Why Wall Street doesn't care that the world's oldest bank is on the brink of collapse". CNBC.
  9. ^ "English version of the corporate website". MPS Capital Services. Archived from the original on 27 February 2013. Retrieved 8 July 2013.
  10. ^ "The list of significant supervised entities and the list of less significant institutions" (PDF). European Central Bank. 4 September 2014.
  11. ^ "List of supervised entities" (PDF). European Central Bank. 1 January 2023.