TIMELINE
1920: Stake in Zivnostenska Banka acquired by Banca Commerciale Italiana (BCI).
1920: Stake in Boehmische Union Bank acquired by BCI.
1990: BCI representative office opened in Prague.
2001: Sanpaolo IMI representative office opened in Prague.

In 1919 Zivnostenska Banka (Prague), Bohemia's most renowned bank, which also controlled Böhmische Escompte Bank, turned to Banca Commerciale Italiana (BCI) for the opening of a credit line for its clients and a second one for a purchase by the Czechoslovak government in Italy. The relationship that developed between the two financial institutions not only enabled BCI to become deeply involved with most of Zivnostenska Banka's business with Italy, but also made it easier for Czechoslovakia to supply coal and other export products to Italy. The following year BCI made a capital increase into the bank, maintaining a 5% share in the underwriting syndacate.
That same year BCI also made a capital increase into Boehmische Union Bank (Prague), in which it held a stake through the end of World War II, although it had sold some of its shares as early as 1927.
BCI began operating directly in Czechoslovakia only in 1990, the year in which it opened a representative office in Prague. Sanpaolo IMI opened its own representative office in the Czech capital in 2001.
Intesa would continue to operate in Czechoslovakia through the branch office of Vseobcna Uverova Banka (VÚB Banka), its Slovakian subsidiary.