Last modified: 2017-05-30
Abstract
In this paper we present different models of banking strategies that were adopted by two major Italian public banks from the 1930s to the 1970s. Monte dei Paschi di Siena and Banco di Sicilia are interesting case studies for a number of reasons: their strong regional connections; their long-standing struggle for political independence from the national monetary authorities; their common attempt to modify the scale and scope of their business with the creation of groups and an early internationalization of activities.
In the paper we have first examined how the two banks were affected by (and involved in) the two major financial and economic crisis of the 1930s and 1970s; then we have shown how they were able to react to the crisis and change their model of banking. At the same time we have analyzed the role played in this respect by banking authorities and other important stakeholders.