Medici Bank Opens Rome Branch

1412

Giovanni di Bicci de' Medici expanded his banking house from Florence to Rome, securing the immensely profitable papal account that managed tithes, indulgences, and diplomatic payments flowing from every Catholic diocese in Europe. Managing the Church's vast international finances transformed the Medici from prosperous local bankers into the continent's most powerful financial dynasty. The connection between Florentine money and papal politics would reshape Italian culture for a century.