The world’s oldest bank still exists. Banca Monte dei Paschi di Siena of Italy was founded in 1472.
The bank has been performing worse than any other in a test of its financial health by European regulators. The stress test by regulators, showed that a severe recession could wipe out the bank’s capital.
Bad loans have been the main cause of downfall for many banks and so has been the case with this Italian bank.
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