Medici Bank

Timeline

1. 1397–1434Florence · TuscanyGiovanni di Bicci established the head office in Florence, starting with financing the wool and cloth trade, gradually opening a branch in Rome to handle papal tax exchange business, laying the groundwork for the Medici financial empire.
2. 1434–1464Florence · TuscanyAfter Cosimo de' Medici took power, the bank network expanded to Venice, Geneva, Bruges, London, and Avignon, managing transnational assets through double-entry bookkeeping and branch partnership systems, becoming Europe's largest private bank at the time.
3. 1461–1470Florence · TuscanyDuring Piero de' Medici's tenure, the Rome branch continued handling papal tax exchange, while the Bruges and London branches served wool and cloth trade financing; the bill of exchange system channeled Florentine capital into northern European and English markets.
4. 1469–1494Florence · TuscanyAfter Lorenzo de' Medici took power, the bank's focus shifted to politics and artistic patronage; the Bruges branch closed due to bad debts, and after the Medici were expelled in 1494 the bank network collapsed, marking the end of early Renaissance private transnational banking.