The foundation and the S.p.A. were split in 1992 from the original statutory corporation of the bank due to Legge Amato.

The history of the bank could traced back to 1462, which mount of piety of Perugia (Italian: Monte di Pietà di Perugia) was founded by Franciscans Fortunato Coppoli and Barnaba Manassei da Terni, such as Bernardine of Feltre and Michele Carcano in other cities.

[9] The foundation was known for employed Carlo Colaiacovo as chairman for a wage of 1.7 billion lire, which was credited as one of the 20 uomini d'oro (literally "golden men") of Italian public companies in 1998.

[10] In 2005, the foundation founded a museum for its art collection in an ancient building Palazzo Baldeschi.

[11] Notable collection of the foundation included Madonna col Bambino e paesaggio by Pinturicchio.