What is the world's oldest surviving bank, founded in 1472?

The world's oldest surviving bank, founded in 1472, is Banca Monte dei Paschi di Siena. It traces its origins to a Monte di Pietà, or charitable pawn-lending institution, established by the Republic of Siena on 4 March 1472.

The original institution was created to provide affordable credit to poor and financially vulnerable residents. It operated differently from a modern commercial bank, but its continuous institutional history is why Banca Monte dei Paschi di Siena is commonly recognized as the world's oldest bank still in operation.

The bank’s present form developed later. In 1624, its activities were connected with the revenues of the Maremma region’s state-owned pastures, known as the “Paschi.” The name Monte dei Paschi gradually became associated with the institution, which expanded its banking services over the following centuries.

A useful distinction is that the bank was founded in 1472 in its earliest form, while its modern banking structure dates from later reorganizations. It is also not the world’s oldest central bank: Sweden’s Sveriges Riksbank, founded in 1668, holds that narrower distinction.