BCI's predecessor was the Società Generale di Credito Mobiliare, founded in 1862. This institution became successful as a lender to the iron and steel industry. However, the Italian banking crisis of 1893–1894, led to Credito Mobiliare's failure. On 10 October 1894 Credito Mobiliare was re-established as a private joint-stock bank under the name Banca Commerciale Italiana with capital from several German and Austrian banks, including S. Bleichröder, Deutsche Bank, and Dresdner Bank. BCI was originally modeled along the lines of German banks, making both short- and long-term loans. The young BCI continued to specialize in loans to industry, especially to companies in shipping, textiles, and electricity. Giuseppe Toeplitz was the managing director of Banca Commerciale Italiana. His Villa Toeplitz is still located in Varese In the mid of the 20th century the bank was nationalized by Istituto per la Ricostruzione Industriale. In 1936, along with Banco di Roma and Credito Italiano, they were classified as "a bank of national interest" under the Banking Law of 1936. In 1999 70% shares of BCI was acquired by Banca Intesa. On 1 January 2001 BCI sold Banca di Legnano to Banca Popolare di Milano. In the same year the company was absorbed into the parent company.
1905: BCI took a majority stake in the newly established Banque Commerciale Tunisienne.
1906: BCI participated in the augmentation of the capital of Banco Comerciale Italo-Brasiliano, which had been founded in 1900 as Banco Comerciale Italiano di S. Paolo.
1908: BCI took an important stake in Banca della Svizzera Italiana, which had been founded in 1873. In 1910 BCI took control of BSI.
1911: BSI liquidated Banque Commerciale Tunisienne, which was merged into Société Générale de l'Afrique du Nord.
1918: BCI established a branch in New York, and Banca Commerciale Italiana, in Paris. The French subsidiary would establish branches in Marseilles and Casablanca.
1919: BCI acquired or created four foreign operations. In Lima, Peru, it acquired a stake in Banco Italiano, which had been founded in 1889. It established Società Italiana de Credito Commerciale out of Società Generale Commissionaria, which had been founded in Italy in 1918 and which had a branch in Vienna. BCI created Banca Commerciale Italiana e Bulgara in Sofia, Bulgaria. Lastly, it established a branch in Istanbul.
1920: This was also a busy year for BCI's international expansion. It created Banca Ungaro-Italiano Bankunit) out of the merger of the Credit Instut Ungarscher Holzhändler e Ungarsche Landesbank and Agrar-Bank. It also established Banca Italiana e Romena by assuming the branches in Transylvania of Banca Agrara Timisana. BCI also acquired Böhmische Union-Bank, which had been founded in 1872. Lastly, Società Italiana de Credito Commerciale changed its name to Società Italiana di Credito.
1923: BCI established Banco Italiano – Guayaquil in Ecuador.
1924: BCI established Banca Commerciale Italiana per l'Egitto in Alexandria. A branch in Cairo would follow. In the US, BCI established Banca Commerciale Italiana Trust Co. – New York.
1927: BCI acquired a stake in Bank Handlowy w Warszawie, founded in 1870. However, BCI reduced its stake in Böhmische Union-Bank to a minority position.
1929: BCI established Banca Commerciale Italiana e Greca in Athens. In the US, BCI established Banca Commerciale Italiana Trust Co. – Boston and Banca Commerciale Italiana Trust Co. – Philadelphia.
1930: BCI acquired a stake in Hrvatska Banks in Zagreb.
1934: BCI sold its shares in Società Italiana di Credito.
1937: BCI established a representative office in Belgrade, while closing Banca Commerciale Italiana Trust Co. – Boston.
1938: BCI liquidated Banca Commerciale Italiana Trust Co. – Philadelphia, having sold the business to Liberty Title and Trust Co.
1939: BCI sold Banca Commerciale Italiana Trust Co. – New York to Manufacturers Trust Co..
1940: BCI's branch in London was liquidated.
1941: BCI sold its shares in Banco Italiano – Guayaquil, which became Banco de Guayaquil. BCI's branch in New York was sequestrated and liquidated immediately after the United Statesdeclared war on Italy.
