Banca Monte dei Paschi di Siena S.p.A. (
BMPS) is the
oldest surviving bank in the world and
Italy's third largest bank. Founded in 1472 by the magistrate of the city state of
Siena, Italy, as a "
mount of piety", it has been operating ever since. Today it has approximately 2,200 branches, 26,000 employees and 4.5 million customers in Italy, as well as branches and businesses abroad. A subsidiary,
MPS Finance, handles investment banking. The bank's largest shareholder is the
Fondazione Monte dei Paschi di Siena (although the foundation's share-holding has been below 50% since December 2009).