The Banca Nazionale di Credito (BNC, lit.
It was founded in 1922 to manage the liquidation of the Banca Italiana di Sconto (BIS), the country's third-largest bank that had failed the previous year.
[1] In 1926, the Istituto Liquidazioni was established for the purpose of managing the legacies of failed banks,[2]: 414 and took over that activity from the BNC,[3]: 238 which nevertheless continued operating as a major bank.
Future Bank of Italy governor Donato Menichella [it] worked at the BNC from 1924 to 1931.
[4] The BNC was still the country's third-largest bank in 1930, when it was purchased by Credito Italiano in what was then the largest-ever bank merger in Italy.