Banco di Roma
| Company type | Financial institution |
|---|---|
| Industry | Banking and finance |
| Founded | 9 March 1880 in Rome, Italy |
| Defunct | 1992 |
| Fate | Merged with Banco di Santo Spirito and Cassa di Risparmio di Roma to form Banca di Roma; later absorbed into UniCredit |
| Headquarters | Rome , Italy |
Area served | Italy, Eastern Mediterranean, Italian Africa, Middle East, Turkey, Europe (including Belgium) |
Number of employees | 3,072 (1926) |
Banco di Roma was an Italian financial institution based in Rome, established on 9 March 1880. During the early 1900s, it was recognized as one of Italy's top four universal banks, alongside Banca Commerciale Italiana, Credito Italiano, and Società Bancaria Italiana. The bank developed an extensive network throughout the Eastern Mediterranean region and Italian Africa. In 1992, it combined with Banco di Santo Spirito to create Banca di Roma, which was subsequently absorbed into UniCredit.
Overview
Banco di Roma initiated its international expansion relatively early, launching branches in Alexandria (1905), followed by Cairo and Malta (1906), then in Tripoli and Benghazi (1907), and later in Constantinople (1911). By 1919, its presence extended further into the Middle East with offices in cities such as Jerusalem, Istanbul, Smyrna, Beirut, and Aleppo. In 1920, a dedicated entity was created to oversee operations in Egypt, Palestine, Lebanon, and Syria. The Egyptian division was separated in 1924 as , involving equity contributions from both Banca Nazionale di Credito and Credito Italiano.
By 1926, Banco di Roma's workforce included 2,756 employees within Italy and 316 abroad, with significant staffing levels in Turkey, Syria and Lebanon, Palestine, Malta, Switzerland, London, and New York. The bank continued expanding its regional footprint by opening branches in Homs, Latakia, and Tel Aviv during the late 1920s through the early 1930s; however, the branches in Palestine and Malta were shut down at the outbreak of World War II.
The bank's activities were influenced by political changes in the region; for instance, in 1960, it transferred its Egyptian operations to the National Bank of Egypt. Syrian assets were nationalized in 1961 under , while Libyan holdings were converted into Umma Bank in 1970. In contrast, Banco di Roma sustained uninterrupted operations in Turkey from its establishment there in 1911 through the liberalization of that market during the 1980s.
In 1991, Banco di Roma merged with both Banco di Santo Spirito and Cassa di Risparmio di Roma to establish Banca di Roma. This institution later became part of Capitalia before being acquired by UniCredit in 2007.
In 1989, Banco di Roma owned a significant 30% shareholding in a Belgian banking institution. Its Belgian branch, Banco di Roma (Belgio) S.A., was sold to Monte dei Paschi di Siena (MPS) in 1992. Furthermore, it divested its subsidiary Banco di Perugia to Banca Toscana (an MPS affiliate) in 1990.