Bank of Italy

The Bank of Italy was founded in San Francisco, California, USA, in 1904 by Amadeo Giannini. It grew by a branch banking strategy to become the Bank of America, the world's largest commercial bank with 493 branches in California and assets of $5 billion in 1945. The bank was established to serve working class citizens of the area, especially Italians living in San Francisco’s North Beach neighborhood. The bank survived the San Francisco earthquake and fire of 1906 and was one of the first to offer loans to businesses to help rebuild the city. The Bank of Italy building, which later became a National Historic Landmark, was opened in 1908. Giannini had his office space in an open area on the first floor. In 1909, the bank began opening...