"BCI" was founded in Milan in 1894, and, in a short space of time, became an important member of the Italian banking system, while at the same time extending its presence abroad. BCI Group's international business activities began before World War I, and today are carried out through a widespread network of operating units. (These consist of 15 direct branches and 20 overseas representative offices, 321 branches and 5 representative offices of its five foreign subsidiary banks plus numerous associated and affiliated companies). BCI holds a leading position in Italy in the syndication market, as well as in corporate finance and merchant banking services. In 1994 the Italian government sold its interests and BCI is now held by over 200,000 shareholders. Approximately twenty-five percent of its capital is held by overseas investors and the stock is listed on the Milan Stock Exchange and in London.