Banco Ambrosiano

Banco Ambrosiano was an Italian bank that was established in 1896 and collapsed in 1982. At The Vatican-based Institute for the Works of Religion, commonly known as the Vatican Bank, was Banco Ambrosiano's main shareholder. The Vatican Bank was accused of funnelling covert United States funds to the Polish trade union Solidarity and to the Nicaraguan Contras through Banco Ambrosiano.

Banco Ambrosiano
Company typeFinance and insurance
IndustryBanking
Financial services
Founded1896
Defunct1982
FateInsolvency
  • Banco Ambrosiano's banking subsidiaries were placed into the receivership of the Banca d'Italia.
  • Nuovo Banco Ambrosiano was created to succeed the bank
SuccessorNuovo Banco Ambrosiano
HeadquartersLargo Bortolo Belotti, Milan
Key people
Giuseppe Tovini (Founder)
Roberto Calvi (Chairman)
ProductsRetail banking
Commercial banking
Investment banking
Investment management
Private equity
SubsidiariesAmbrosiano Overseas
Banco Ambrosiano Holding
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