Monte dei Paschi di Siena is the oldest bank in the world. It was founded in 1472 in the Republic of Siena in the heart of the Italian region of Tuscany with the original name of Monte Pio, as a mount of piety.

It kept flourishing and growing over time, progressively acquiring banking functions and in 1624 was renamed Monte dei Paschi, the name that still holds today after almost 400 years.

Paschi is the Italian word for grasslands, and the name of the bank originates from the fact that the funds deposited in the bank were guaranteed by the proceedings from the pastures of the surrounding countryside of the Maremma region.

The bank has been operating without any interruption since its foundation, and is thus considered the oldest bank in the world. Today is one of the leading banks in Italy.

It is headquartered in the beautiful Salimbeni Palace, a building located in the historical center of Siena and dating back to 1300.

The Monte dei Paschi owns a significant artistic heritage composed of many important pieces of art like the Madonna della Misericordia, a painting made in 1481 to celebrate the foundation.

In 2010 the bank started an advertising campaign aimed at emphasizing its “Italianess” as opposed to being just from Siena. The videos are featuring scenes set in various Italian cities like Rome, Naples, Milan and of course Siena. But is noteworthy the absence of the city of Florence, likely due to the rivalry, dating back many centuries, between the two Tuscan cities. 

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