Raffaele Mattioli: a pioneer of modern banking in post-second-world-war Italy

This paper aims to analyse a selection of key points in the banking thought of Raffaele Mattioli by examining the balance sheet reports issued during Raffaele Mattioli’s position of managing director of Comit, essentially during the period 1945-1971. The analysis considers the most relevant points in the evolution of banking business and underlines their importance in the development of modern banking. This investigation focuses on selected quotations of Raffaele Mattioli, drawing attention to the modern criteria that inspired Raffaele Mattioli’s thought. His approach prefigured the current and rational criteria to be applied to banks in Italy, Europe and world-wide, with awareness of concepts such as corporate social responsibility, credit and debt relationships, financial transformation, production diversification, liquidity, solvency and investment trusts. Modernism appears in Mattioli’s thought: thus it is important to read his writings in order to appreciate the sound principles he put forward, which still have a crucial role to play for management of a bank in modern times. In a period when financial and bank crises still produce a severe impact on economic growth and bank survival, sound and rational management principles should always be kept in mind. Raffaele Mattioli, a 20th century Italian banker, offers a valid example of good management and stands as an enduring example of a highly competent manager with excellent professional skills and strong moral principles and rectitude. He also offers a highly instructive example for future generations of bank managers in Italy, Europe and throughout the world. His enduring heritage is confirmed by the successful results of the bank during the period of his management and by the highly instructive teachings recorded in his banking reports. Unfortunately, however, Mattioli’s thought is known only to a restricted circle as his writings are in Italian, which does not favour world-wide circulation of ideas and sound and brilliant principles. This paper examines the key points in the banking thought of Raffaele Mattioli, with the aim of underlining the above-mentioned crucial aspects and, especially, of highlighting the significance of his thought in modern times as well as its continued relevance in banking management.