Banca per l'Africa Orientale

Banca per l’Africa Orientale (BAO) was an early attempt to establish modern banking in the Horn of Africa at a time when Eritrea and Italian Somaliland were Italian colonies.

It was the first tentative to create a modern banking system in all colonial Africa.

In 1914 the central "Bank of Italy" started to operate in Asmara and promoted the creation of private banks — like the "BAO" — in the Italian colonies.

The Banca Italiana di Sconto (BIS) was a leading Italian bank that indirectly supported the BAO, but BSI failed in 1921, leading to the failure of the BAO a few years later.

In late 1923 the Banca per l'Africa Orientale was officially closed.

The Banca Italiana di Sconto was the promotor of the BAO
Eritrea Italiana. Red points are the new borders of Eritrea, enlarged in 1936 in the Governorate of Eritrea