Up for sale: The world's oldest bank Monte dei Paschi di Siena, Italy's third largest lender, is reported to have hired advisers to find a buyer for the bank, after the European Central Bank's recent asset quality review found a €2.1bn black hole in its accounts. Should it be sold, one of the most historic names in banking could potentially be lost. Monte dei Paschi was founded in 1472, and is generally believed to be the world's oldest bank, serving as a symbol of Siena's wealth for centuries. However, Italy's tumultuous economic record since the financial crisis threatens its existence. The bank has already completed several rights issues, and has not made a profit since 2011, while shares have collapsed in recent years. It is unclear whether the bank will be able to find a buyer. Mooted candidates including Santander and Credit Agricole appear unkeen, although a merger with another Italian bank might be a possibility. Monte dei Paschi was the worst of the 25 banks to fail the ECB's stress tests at the end of October, and was ordered to announce its response by the end of this week. On Wednesday, it said Citi and UBS would be advising the bank on implementing this, as well as "for the purpose of evaluating further strategic alternatives."