Which Florentine banking family founded the Medici Bank in 1397?

The Medici family founded the Medici Bank in 1397, making it one of Renaissance Europe's most influential banking houses.

Giovanni di Bicci de' Medici established the bank in Florence after taking control of a branch of the Roman bank run by Vieri de' Medici. Under Giovanni and later managers, the bank expanded through branches in Rome, Venice, Geneva, Bruges, London, and other commercial centers.

The bank supported trade, papal finance, and the Medici family's political rise in Florence. It was not a modern central bank or a government institution; it was a private merchant bank operating through partnerships and correspondent offices.

The Medici Bank declined during the fifteenth century because of poor management, political complications, bad loans, and competition. It finally closed in the 1490s, after the Medici were expelled from Florence.