It was established in 1863 in Turin with support from the Pereire brothers, succeeding a previous venture, the Cassa del Commercio e dell'Industria di Torino (lit.
Some of its operations were re-organized as the Banca Commerciale Italiana, marking the transition from French to German influence in Italian investment banking.
[1] The Cassa del Commercio e dell'Industria di Torino was established in 1852 and reorganized in 1856 with support from Paris-based financier James Mayer de Rothschild, who wanted to pre-empt efforts by his French competitors the Pereire brothers to expand on the Italian market.
Following that experience, Domenico Balduino, the bank's general manager since the 1860 restructuring, pivoted towards investment banking, making the Credito Mobiliare the dominant player on that market in the following two decades, financing numerous industrial and infrastructure ventures and helping them sell securities.
[3] This did not prevent the Credito Mobiliare from succumbing to the financial fragility that followed the domestic Banca Romana scandal and international panic of 1893.