People pass in front of a branch of Monte dei Paschi di Siena (MPS), the oldest bank in the world, Siena, Italy.

Photograph: Reuters

Jun 8th 2026|ROME|2 min read

FOR MONTHS Italian finance has been gripped by the €16bn ($18bn) takeover by Monte dei Paschi di Siena (MPS), the world’s oldest surviving lender, of Mediobanca, an investment bank which also owns a 13% stake in Generali, a giant insurer. Completed last September, it was the biggest European banking merger in years. It involved the abrupt sacking of MPS’s boss by the board in April and his rapid reinstatement by shareholders.

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