The BPN was established on 17 September 1871 by a Royal Decree in the form of an anonymous joint-stock credit cooperative, driven by some politicians and entrepreneurs from Novara, who supported the need for a bank to help the growth of the territory and its economy. In the beginning the social activity is in fact mainly constituted by microcredit works for artisans, small entrepreneurs and farmers in the Novara area.
Subsequently, the bank extended its business, parallel to the opening of numerous branches in the area, and then turned to financing large industrial groups and finance. In more recent times it has returned to take care of its traditional clientele, while offering them modern operational services. In 1977 BPN was the eleventh Italian bank for collection.
Until May 31, 2002 it was listed on the Milan Stock Exchange.