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Medici Bank

Type Object Region Europe Time 1397–1494

The Medici Bank (Banco dei Medici), founded by Giovanni di Bicci de' Medici in Florence in 1397, was one of Renaissance Europe's most influential fin…

Timeline

  1. 1397Florence · FlorenceGiovanni di Bicci de' Medici formally founded the Medici Bank in Florence, initially focusing on foreign exchange and trade financing, and quickly obtained the agency for papal tax collections.
  2. 1434–1464Florence · FlorenceCosimo de' Medici took over the bank and led its golden age. The bank established branches widely in Rome, Venice, Milan, Geneva, Bruges, London, and elsewhere, becoming Europe's largest private banking network, while continuing to provide credit support to the papacy.
  3. 1451–1460Florence and European branches · FlorenceDuring the core years of Cosimo de' Medici's rule of the Florentine Republic, the Medici Bank continuously handled papal finances, maintained financial relations with popes such as Nicholas V and Callixtus III, and meanwhile patronized Renaissance art and humanist scholars, establishing the Medici family's status as cultural patrons.
  4. 1494Florence · FlorenceLorenzo's son Piero II was expelled from Florence, and the Medici Bank's branches closed one after another, marking the formal end of Europe's most influential financial institution.

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