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Bardi Banking House

Banking and Financial Houses

The Bardi banking house was one of the leading Florentine banking companies of the late medieval period, built by the Bardi family into one of the largest and most far-reaching financial enterprises in thirteenth and fourteenth century Europe, operating branches in major commercial centres including London, Bruges, Paris, Barcelona and Constantinople alongside its Florence headquarters. Together with the rival Florentine Peruzzi banking house, the Bardi extended enormous loans to European monarchs to finance warfare and government spending, most notably to King Edward III of England, whose borrowing helped fund the early campaigns of the Hundred Years' War against France. When Edward III defaulted on these massive debts in the early 1340s, unable to repay what medieval chroniclers described as sums equal to a kingdom's ransom, both the Bardi and Peruzzi banks suffered catastrophic losses that, compounded by wider economic troubles across Europe, led to the collapse of both houses around 1345 to 1346. Their failure is often cited by historians as one of medieval Europe's first major international financial crises, demonstrating the dangers of concentrated sovereign lending long before the modern banking era.

Facts
Organization Type
Banking and trading company (medieval Florentine super-company) 1
Dissolved
1345 2
Headquarters
Florence, Republic of Florence 2
Industry
Banking, wool trade and sovereign lending 2
Organization Type
Organization Type (category)
Merchant Bank 1
Connections

Associated With

Lent Edward III enormous sums to finance the opening campaigns of the Hundred Years War; his default in the 1340s triggered the bank's collapse.

Medici Bank, Organizations

The Medici Bank rose in Florence after the Bardi banking house collapsed in the 1340s.

In Era

Built by the Bardi family into a major Florentine banking house across the thirteenth and fourteenth centuries, within the Post-Classical and Medieval Period (476 to 1453).

In the Other Atlases

Located In

Also in Geography Atlas: where this subject is located.

Sources
1. Wikipedia: Compagnia dei Bardi
Wikipedia
  • lead paragraph
    The Compagnia dei Bardi was a Florentine banking and trading company which was started by the Bardi family, and which became one of the major medieval “super-companies” of the 14th Century.
  • In Group: Banking Houses Founded Before 1700, Lead
    which became one of the major medieval "super-companies" of the 14th Century
View the Source
2. Wikipedia: Bardi Family
Wikipedia
  • lead paragraph
    The House of Bardi was an influential Florentine family that started the powerful banking company Compagnia dei Bardi.
  • body text on the 1345 default
    In 1345, Edward III defaulted on his payments, causing both banking families to go bankrupt.
View the Source
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