Looking through the documents in the archives of Banca Commerciale Italiana, founded in Milan on 10 October 1894, means discovering the history of a banking institution which made one of the greatest contributions to Italy’s economic growth during the early decades of the 20th century by funding the country’s new industrial structure; but it was also one of the first to operate in international markets , through a network of branches and subsidiary banks which made it the leading Italian financial institution overseas.
Timeline
1894
Banca Commerciale Italiana is founded by a consortium of German, Austrian and Swiss banks
1910-1911
It begins expanding abroad, opening its first foreign branch in London
1918-1929
The bank grows its international network in Eastern Europe, the Mediterranean and America
1931-1934
Comit is rescued by the Italian government and IRI (Istituto per la Ricostruzione Industriale – Institute for Industrial Reconstruction) becomes the majority shareholder
1934-1937
BCI becomes a commercial bank and is designated a bank of national importance
1970
Banca Commerciale Italiana is listed on the Stock Exchange
1994
Comit is privatised, enabling it to return to being a full-service bank
1999
Banca Intesa acquires a 70% stake in Banca Commerciale Italiana
2001
Comit merges with Banca Intesa, creating IntesaBci SpA