L’Istituto di Credito di Diritto Pubblico, 1926-91

Translated title of the contribution: [Autom. eng. transl.] The Credit Institute of Public Law, 1926-91

P. F. Asso*, Sebastiano Nerozzi*

*Corresponding author

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

[Autom. eng. transl.] Banco di Sicilia was one of the most important Italian banks. Since its origins (1867) it has played a central role in the life of the island, not only influencing the processes of economic development and productive transformation, but also contributing to determining its changing balance in social and political structures. Using largely unpublished sources, the volume examines for the first time the events of a bank that until 1926 enjoyed the right to issue money, operating as a bank of banks, in a cooperation-competition relationship with the other issuing institutions, at the top the Bank of Italy was placed. Between the two wars, Banco radically transformed its business model, setting up commercial credit services almost from scratch, expanding its presence in Italy and abroad, extending its operations to special long-term credit. After World War II, within the framework of Sicilian regional autonomy, it exercised the function of a real financial development, supporting the launch of important industrial initiatives. From the early sixties the rapid exhaustion of the development parabola of the Sicilian economy, the ambitious management strategies and little attention to the control of the costs and the quality of the credit, the strong conditioning of political and environmental nature, determined the deterioration of the conditions of budget that, even with phases of recovery, accompanied the events of the Bank for over thirty years, up to the transformation into a joint-stock company and absorption into national credit groups. The volume therefore describes the main business strategies, institutional changes and economic performance of the Banco di Sicilia from 1867 to 1991, analyzing it also as a place of selection and affirmation of the elites and ruling classes, in a complex of personal, family relationships, politicians, which makes its history inextricably linked to the history of Sicily.
Translated title of the contribution[Autom. eng. transl.] The Credit Institute of Public Law, 1926-91
Original languageItalian
Title of host publicationStoria del banco di Sicilia
Pages113-403
Number of pages291
Publication statusPublished - 2017

Publication series

NameSAGGI. STORIA E SCIENZE SOCIALI

Keywords

  • Banco di Sicilia
  • Storia Banche

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