At the end of March 2019, there were 505 banks in Italy including 136 public limited banks (Spa), 22 cooperative banks, 268 mutual banks and 79 branches of foreign banks. Overall, the banking sector operate about 25,400 branches and employ 278,200 staff. The number of ATMs in Italy equals approximately 49,000. During 2018 the Italian banking system lost about 30% of its market value. Unicredit, Intesa Sanpaolo, CDP and Banco BPM are the four largest Italian banks as measured by assets. Banca d'Italia (or Bank of Italy), established in 1893, is the central bank of the country. Following is a list of the largest and best banks in Italy.

Unicredit SpA

Unicredit S.p.A. is the largest bank in Italy by total assets, loans and deposits. It serves over 25 million customers through more than 4,500 branches including 2,868 branches in Italy, Germany and Austria, and 1,648 branches in CEE region. It also has offices in the United States, the UK, France, Switzerland, Spain, UAE, Japan and China, among others. Founded in 1998, Unicredit is headquartered in Milan and employs over 84,600 people. The company is rated Baa1, BBB, and BBB by Moody's, Standard & Poor’s and Fitch, respectively. At November 29, 2019, Unicredit had a market capitalization of US$31 billion.

Intesa Sanpaolo

Intesa Sanpaolo S.p.A. is the second largest bank in Italy based on assets and the largest by number of branches and employees. Headquartered in Turin, it is one of the top banks in the eurozone offering services to retail, corporate and SME customers as well as high net worth individuals. With 11.9 million clients in Italy, it operates a network consisting of 3,825 domestic branches and 1,060 branches abroad. For the year ended December 31, 2018, the Bank reported net income of €4.05 billion, total assets of €787.7 billion, loans of €394 billion and €415 billion in direct deposits from banking business.

Cassa Depositi e Prestiti

Established in 1850, Cassa Depositi e Prestiti (CDP) is an investment banking group and the national promotion institution headquartered in Rome. With about 30,000 employees, it is the third largest Italian bank by assets. The Italian Ministry of Economy and Finance is the principal shareholder of the company. 15.9% of CDP’s share capital is held by a group of banking foundations and 1.3% in treasury shares. Cassa Depositi e Prestiti is responsible for the Italian Postal savings which represent first source of its financial resources. As of December 31, 2018, the company's total assets and loans amounted to €425.1 billion and €105 billion, respectively.

Banco BPM

Banco BPM S.p.A. is the fourth largest bank in the country with approximately 4 million customers. The bank’s branches are concentrated in Lombardy, Veneto and Piedmont. It was formed through the merger of Italian cooperative banks Banco Popolare and Banca Popolare di Milano (BPM) on January 1, 2017. The company is headquartered in Milan and Verona and employs 25,000 people. The consolidated balance sheet totalled €160.5 billion at December 2018.

Monte dei Paschi di Siena

Banca Monte dei Paschi di Siena S.p.A. (BMPS) is the fifth largest bank in Italy. It offers deposit and lending products, bancassurance, asset management, investment banking, online banking and other services. Ministry of Economy and Finance is the majority shareholder with 68% shares. Other large shareholder is Assicurazioni Generali S.p.A. (4.3%). Established in 1472, Monte Paschi is the oldest bank in the world. In October 2018, it agreed to sell its subsidiary Banca Monte Paschi Belgio to Warburg Pincus, an American private equity firm.

UBI Banca

Unione di Banche Italiane S.p.A. (UBI Banca) is the sixth largest bank in Italy with total assets of €127.5 billion, deposits of €67.7 billion and loans of €103.4 billion as of June 30, 2019. With more than 20,000 employees, it operates through about 1,650 branches mainly in Calabria, Apulia, Basilicata, Campania, Marche, Liguria, Lombardy and Piedmont. The company's stock is listed on the on the Milan Stock Exchange (Borsa Italiana).

Banca Nazionale del Lavoro

Banca Nazionale del Lavoro (BNL), headquartered in Rome, is one of the leading banking groups in Italy. It operates as a subsidiary of BNP Paribas, a French banking group. It offers savings products, personal and commercial loans, mortgages, debit and credit cards, insurance, leasing, factoring, cash management, international payments, investment banking, real estate brokerage, asset management, mobile and online banking and more. The company was founded in 1913 and currently operates approximately 1,000 branches across Italy.

BPER Banca

BPER Banca S.p.A. (formerly Banca Popolare dell'Emilia Romagna), based in Modena, is the eighth largest bank in the country. It provides mainly the traditional banking services throughout Italy, except in Piedmont and Sardinia. The Group's network includes over 1,200 branches located in 18 Italian regions as well as office in the Grand Duchy of Luxembourg. The company was created in 1983 from the merger of Banca Popolare di Modena (established in 1867) and Banca Cooperativa di Bologna. In 1992, the Bank merged with Banca Popolare di Cesena. As of September 2018, BPER Banca Group had €50 billion in loans and €51.2 billion in direct deposits.

Mediobanca

Headquartered in Milan, Mediobanca is the leading investment bank as well as one of major consumer credit operators in Italy through Compass Banca. The Group’s main business activities are Corporate & Investment Banking (CIB), Consumer Banking, Wealth management, and Principal Investing. Wealth management division include Compagnie Monégasque de Banque, CheBanca!, Spafid, Mediobanca Private Banking, Cairn Capital, Mediobanca SGR, MB Asset Management and RAM Active Investments. Mediobanca has international branches and offices in London, New York, Madrid, Paris, Frankfurt and Luxembourg. Founded in 1946 to support the post-war reconstruction, the company employs 4,700 people.

Credit Agricole Italia

Based in Parma, Credit Agricole Italia (a trading name of Crédit Agricole Cariparma S.p.A.) is a member of French banking group Crédit Agricole. With 997 retail branches and 55 small business centers, the company provides financial products and services in 11 Italian regions including Liguria, Emilia-Romagna, Friuli-Venezia Giulia, Lazio, Campania, Umbria, Lombardy, Tuscany, Veneto and Piedmont. Subsequent to the acquisition of Cassa di Risparmio di Rimini, Cassa di Risparmio di Cesena, and Cassa di Risparmio di San Miniato, the company serves more than 2 million clients and employs over 10,000 staff. Crédit Agricole Italia Banking Group has total assets of over EUR 65 billion.

See also: Foreign Banks in Italy

Updated as of December 1, 2019