Banca Monte dei Paschi di Siena, the Oldest Bank in the World

Banca Monte dei Paschi di Siena also known as BMPS, was founded in 1472 by order of the magistrature of the Republic of Siena as the Monte di Pietà and has been in constant operation since then. Banca Monte dei Paschi di Siena is known to be the oldest bank in the world. During the 17th and 18th century, after Italy was unified, BMPS was established to offer loans to the poor and…