Which bank, founded in 1407, is widely regarded as the world's oldest surviving bank?

Banca Monte dei Paschi di Siena, founded in 1407, is widely regarded as the world's oldest surviving bank.

It began in Siena, Italy, as a monte di pietà, a charitable credit institution established by the Republic of Siena. These organizations were created to provide loans, often at relatively modest interest, to people who might otherwise turn to moneylenders.

The bank was reorganized in 1624 under the Grand Duchy of Tuscany. Its name refers to the Maremma grazing lands, or paschi, whose revenues helped support the institution. That connection distinguishes it from modern banks founded as commercial joint-stock companies.

The bank remains headquartered in Siena. It is sometimes confused with older institutions that ceased operating, merged away, or changed their legal identity; the claim concerns continuous survival as a banking institution, not uninterrupted use of exactly the same corporate structure.