Banchi began working as a basketball coach in the youth teams of Basketball Grosseto, after which he was an assistant coach for the Armed Forces Vigna di Valle, and Affrico Firenze. Between 1987 and 1999, he coached the junior teams of Livorno, winning three consecutive youth national titles in the period, from 1995 to 1997.
In 2006, he became the assistant coach of Montepaschi Siena, under head coach Simone Pianigiani. As an assistant with Montepaschi, he won six 6 Italian League championships in a row (2007–2012), five Italian Super Cups (2007–2011), and four Italian Cups (2009–2012). In June 2012, he took over the role of head coach of Montepaschi Siena, following the departure of Simone Pianigiani to Fenerbahçe. On February 10, 2013, he won the Italian Cup, after defeating Pallacanestro Varese, by a score of 77–74 in the final game.[1] On June 19, 2013, he also won his first Italian League championship, as a head coach.[2]
On July 1, 2013, he signed a two-year deal to become the head coach of the Italian European-wide top-tier levelEuroLeague club, Emporio Armani Milano.[3] In his first season with the team, he won the Italian League championship, repeating the previous success of Carlo Recalcati, as the only head coaches who won consecutive Italian League titles, with different teams.[4]
In October 20, 2021 Banchi signed with Victoria Libertas Pesaro to replace Aco Petrović.[11] After a slow start, Pesaro made multiple winning streaks during the season and qualified for the playoffs.
In September 15, 2023, after Scariolo was fired following controversial statements regarding the new roster and the upcoming season, he became new head coach of Virtus Bologna, and signed a two-year contract.[13] Returning to the Euroleague, after a 5-year break. About a week later, the team won the first title under the new coach, winning the Italian Supercup.[14] On 24 September 2023, after having ousted Olimpia Milano in the semifinals, Virtus won its fourth Supercup, and the third in a row, defeating 97–60 Germani Brescia.[15] On December 5, 2024, Banchi resigned as head coach after a 2–11 start in the EuroLeague.[16]
In the country's World Cup debut in 2023, Banchi led the team to a 5th place finish[18] and received the award for the Best Coach of the tournament. Starting with the Pre-Qualifiers, Latvia had won 21 out of 24 games under coach Banchi.[19]
Coaching record
Legend
G
Games coached
W
Games won
L
Games lost
W–L %
Win-loss %
Note: The EuroLeague is not the only competition in which the team played during the season. He also coached in domestic competition, and regional competition if applicable.