190:
afterwards, the entire management of the SBI was replaced, with new leadership headed by
Roberto Calegari, previously director of the Turin branch of the Bank of Italy. This was widely viewed as reflecting Stringher's aim to control the situation, which had already manifested itself with a regulatory change of 31 December 1907 which had strengthened the Bank of Italy's intervention powers. Under this new framework, the SBI was able to return the financial aid received in 1907, and at the end of 1908 the rescue consortium was dissolved, but the bank remained perceived as fragile. In mid-1908 it made unsuccessful attempts at merging with mid-sized regional peers, the
386:
381:
247:, which was provided with a capital of 5 million by the shareholders of the SBI. Following this transaction and a similar one involving the SICP, the two banks' balance sheets were much sounder, allowing them to merge into the BIS on 2 June 1915. That complex operation was supported by the atmosphere of patriotic enthusiasm that immediately followed the
181:
led the formation of a banking consortium to support the SBI, with participation from the Comit and Credit. This failed to prevent a 23-percent fall of the SBI's stock price by end-October, also inducing a decline of the Bank of Italy's own share price. The consortium agreed on a second support
189:
On 22 February 1908, a tumultuous general shareholders' meeting of the SBI was held in Milan, in which participants denounced the lack of accountability of the board of directors. The mismanagement at the bank and especially its Genoa branch was also the matter of numerous lawsuits. Shortly
225:), and in the charged geopolitical context of 1914, the French government was actively in favor of a combination of the two French-supported banks to check the perception of German influence over Comit (and according to some, over
107:, a joint-stock company with a share capital of 4 million lire. In 1901, the bank's longstanding president Alberto Weill Schott (1837–1901) died suddenly and was replaced by Count Felice Scheibler. In 1902, it opened a branch in
251:. The newly merged entity had a share capital of 70 million, a widespread presence in 68 cities and a solid financial position, immediately securing a strong position as Italy's third-largest bank on most parameters.
210:, which secured 7 seats on the 17-strong board of directors. The bank's expansion could restart by opening new branches and buying small local banks, with 24 local offices at end-1912 and 33 at end-1913.
96:
The origins of the SBI go back to 1850 when brothers
Alberto, Cimone and Filippo Weill Schott, descendants of a family of Jewish bankers originally from Austria, co-founded Figli Weill Shott & C. in
281:
182:
package on 7 November 1907, and on 25 November 1907 the
Italian treasury added its own direct support. This represented a watershed moment in terms of state intervention to preserve
260:
202:. The SBI's condition only decisively improved in 1911–1912, when French investors offered to inject new capital, first a short-lived attempt by the
233:(BIS) was established as a new entity with a capital of 15 million lire, of which a significant part was subscribed by the Perrones, owners of
79:
431:
450:
248:
74:
203:
73:. After narrowly surviving financial distress in 1907 thanks to government intervention, the SBI merged in 1915 with the
150:. It soon moved from the old Weill-Schott building on Piazza Belgioioso into a prestigious new head office building on
229:
who was Prime
Minister in early 1914). The merger was eventually executed in several steps. On 30 December 1914, the
135:
62:
169:, which came after signs of weakness that accumulated from the summer of that year, particularly in its branch in
230:
85:
424:
61:(1850–1898). In the early 20th century, it was one of Italy's four dominant universal banks, together with
142:(known colloquially as Comit and Credit), a mitigation of the latter's duopoly that was encouraged by the
131:
159:
134:
which had remained in liquidation for years. This made the SBI the third-largest bank in Italy, behind
207:
455:
183:
151:
283:
Italian investment and merchant banking up to 1914: Hybridising international models and practices
417:
226:
155:
147:
112:
401:
139:
66:
173:
that had developed increasingly autonomously from headquarters in the previous years. A
385:
130:
to signal its nationwide ambition. At the same time, it absorbed the operations of the
444:
178:
166:
143:
70:
380:
237:. Then in May 1915, a portfolio of risky assets was transferred by the SBI to a
177:
started in late August and gathered pace in
September. On 11 October 1907, the
397:
154:. In 1905, it participated in an international consortium to establish the
332:
Banca e industria in Italia 1894-1906 - Il sistema bancario tra due crisi
238:
174:
108:
234:
360:
Enrico
Galanti, Raffaele D'Ambrosio & Alessandro Guccione (2012),
170:
98:
46:
317:
La crisi del 1907. Una tappa dello sviluppo industriale in Italia
165:
The SBI was more directly affected than its
Italian peers by the
393:
213:
Meanwhile, the Crédit
Mobilier Français had invested in the
280:
Carlo
Brambilla & Giandomenico Piluso (February 2008),
158:, and in 1907 led the Italian share in the creation of the
186:, not just in Italy but also from a European perspective.
101:. On 13 October 1898, that family bank was reorganized as
405:
261:Banque Française pour le Commerce et l'Industrie
206:then a successful one by the recently created
425:
242:
220:
214:
197:
191:
125:
119:
102:
8:
49:. It was established in 1904 by renaming of
347:La crisi di fine secolo e l'età giolittiana
45:) was a significant Italian bank, based in
30:
432:
418:
295:
293:
272:
216:Società Italiana di Credito Provinciale
75:Società Italiana di Credito Provinciale
199:Banca Bergamasca di Depositi e Crediti
7:
377:
375:
111:to finance the Italian share of the
55:(1898–1904), itsel the successor of
334:, Milan: Banca Commerciale Italiana
244:Società Finanziaria di Liquidazione
404:. You can help Knowledge (XXG) by
362:Storia della legislazione bancaria
286:, Università degli Studi di Torino
14:
384:
379:
249:Italian entry into World War I
1:
330:Antonio Confalonieri (1975),
300:"Società Bancaria Italiana",
319:, Torino: Fondazione Einaudi
472:
374:
136:Banca Commerciale Italiana
63:Banca Commerciale Italiana
58:Figli Weill Shott & C.
127:Società Bancaria Italiana
121:Società Bancaria Milanese
104:Società Bancaria Milanese
52:Società Bancaria Milanese
22:Società Bancaria Italiana
231:Banca Italiana di Sconto
204:Crédit Mobilier Français
118:On 28 October 1904, the
86:Banca Italiana di Sconto
315:Franco Bonelli (1971),
40:Italian Banking Company
451:Defunct banks of Italy
400:-related article is a
243:
222:Banca di Busto Arsizio
221:
215:
198:
192:
132:Banco di Sconto e Sete
126:
120:
103:
345:Franco Gaeta (1982),
302:L'economista italiano
160:State Bank of Morocco
208:Banque Louis-Dreyfus
124:changed its name to
364:, Venezia: Marsilio
304:(1), 4 January 1908
193:Banco della Liguria
184:financial stability
152:Via Monte Napoleone
16:Former Italian bank
219:(SICP, until 1911
413:
412:
227:Giovanni Giolitti
156:Bank of Abyssinia
148:Bonaldo Stringher
146:and its governor
113:Boxer Indemnities
463:
434:
427:
420:
388:
383:
376:
366:
365:
357:
351:
350:
342:
336:
335:
327:
321:
320:
312:
306:
305:
297:
288:
287:
277:
246:
224:
218:
201:
195:
140:Credito Italiano
129:
123:
106:
83:
67:Credito Italiano
44:
41:
38:
35:
32:
471:
470:
466:
465:
464:
462:
461:
460:
441:
440:
439:
438:
372:
370:
369:
359:
358:
354:
344:
343:
339:
329:
328:
324:
314:
313:
309:
299:
298:
291:
279:
278:
274:
269:
257:
94:
77:
42:
39:
36:
33:
17:
12:
11:
5:
469:
467:
459:
458:
453:
443:
442:
437:
436:
429:
422:
414:
411:
410:
389:
368:
367:
352:
337:
322:
307:
289:
271:
270:
268:
265:
264:
263:
256:
253:
93:
90:
15:
13:
10:
9:
6:
4:
3:
2:
468:
457:
454:
452:
449:
448:
446:
435:
430:
428:
423:
421:
416:
415:
409:
407:
403:
399:
395:
390:
387:
382:
378:
373:
363:
356:
353:
349:, Turin: UTET
348:
341:
338:
333:
326:
323:
318:
311:
308:
303:
296:
294:
290:
285:
284:
276:
273:
266:
262:
259:
258:
254:
252:
250:
245:
240:
236:
232:
228:
223:
217:
211:
209:
205:
200:
194:
187:
185:
180:
179:Bank of Italy
176:
172:
168:
167:panic of 1907
163:
161:
157:
153:
149:
145:
144:Bank of Italy
141:
137:
133:
128:
122:
116:
114:
110:
105:
100:
91:
89:
87:
81:
76:
72:
71:Banco di Roma
68:
64:
60:
59:
54:
53:
48:
28:
24:
23:
406:expanding it
391:
371:
361:
355:
346:
340:
331:
325:
316:
310:
301:
282:
275:
212:
188:
164:
117:
95:
84:to form the
57:
56:
51:
50:
26:
21:
20:
18:
78: [
456:Bank stubs
445:Categories
398:insurance
255:See also
239:bad bank
175:bank run
109:Shanghai
92:Overview
235:Ansaldo
34:
241:, the
69:, and
392:This
267:Notes
171:Genoa
99:Milan
82:]
47:Milan
402:stub
396:and
394:bank
196:and
138:and
31:lit.
19:The
115:.
27:SBI
447::
292:^
162:.
88:.
80:it
65:,
29:,
433:e
426:t
419:v
408:.
43:'
37:'
25:(
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.