in Parma on January 27, 1488,
the Foundation pursues exclusively aims of social utility, for the promotion
of economic development, and has always been at the service of the city
and province of Parma.
At the time of the reform of the sector,
which began in 1991, the banking activity was separated and the
Monte Parma Bank S.p.A. was founded.
In 1999 the Foundation sold part of
its share capital to the Monte
dei Paschi di Siena Bank S.p.A., stipulating a strategic
alliance with the aim of giving new impetus to its banking activity, consolidating,
at the same time, the traditional peculiarities of autonomy and localism.
in its capital and structure, the Foundation has plans to complete restructuring.
Currently it holds the majority shareholding of the Bank capital, and
pursues, with renewed and more effective actions, its original mission
for the benefit of Parma, its values and its culture.