Top 10 oldest banks in the world
Everything was done just in the old days. If someone had a lot of money, he just put them in a jar, bury it under the fence, said: “I Have money in the Bank”, and no longer worried.
Lewis Carroll (Charles Dodgson Lutwidge)
Bank (from Italian. banco — a bench, a bench, a table, on which laid out the money changers coins). Today, under the Bank, as a rule, understand the financial institutions that control and manage financial assets, various securities (shares and bonds ), precious metals (silver. gold, etc.) and real estate .
The first banks of the world were born from organizations that had carried on business and had a solid level of cash and customers, through which they began to lead the accounts payable activities and thus to remove the interest income.
Later in the expansion and completely new types of operations, which also began to provide a profit banks.
With the growth of the profitability of such financial institutions began to demand with “daredevils”, and Bank robberies became a problem for the police.
However, in today’s 21st century it is impossible to imagine life without banks, they are almost everywhere and that banks play a major role in rastitelnosti any country.
Today we will discuss top 10 oldest banks in the world who still continue to conduct their activities. So, here we go:
The oldest banks of the world
No. 1. Monte dei Paschi di Siena Italy, 1472
This Bank was established on 27 February 1472 by the General Council of the Siena Republic to issue micro loans for small interest rates, to those people who do not have sufficient income. Monte dei Paschi di Siena is the oldest Bank in the world that still operates to this day. The company has more than 2,000 departments and 4.5 million customers. In the headquarters of the Bank, the Palazzo Hotel, there is stored a collection of various works of art and unique documents of historical character, belonging to the Bank. Collection is not available for everyone.
No. 2. Berenberg Bank, Germany, 1590,
The Bank was founded in 1590 by sellers of clothes, the brothers Hans and Paul Berenberg from Antwerp in modern Belgium. Next to the Bank was joined by John Gosler. The logo of the Bank is two full coat of arms of the Berenberg families and Gossler, portraying Berenberg bear and the leg of the goose — Gossler. Originally Berenbergs engaged in the sale and manufacturing of fabrics, and the company was a merchants ‘ house, one of the largest players in the market import-export of fabric. The company quickly expanded the boundaries of its business, pursuing the implementation of other goods and became involved in shipping and investment in the 17th century.
No. 3. Stadsbank Lening van Holland, 1614
Credit Bank of Amsterdam was founded in 1614. Basically the Bank consists of 6 offices, two shops and auction houses. Stadsbank van Lening as collateral is able to receive different jewelry made of precious metals (gold, silver), diamonds, and goods, bicycles, musical instruments, etc. Things will be in the mortgage about 6 months, but if they are not buy back, these things are transformed into the lots of the auction house. Trades are made 1 time per month for jewelry and 1 time in 2 months for others. Not purchased the goods sent to the stores.
No. 4. Sveriges Riksbank Sweden, 1668
The Riksbank is considered one of the oldest of existing Central banks of the world. It was founded in 1668 by His predecessor was the Stockholm Banco, a private Bank that went bankrupt when you have too many loans without collateral. Palmstruch, who was responsible for lending, was sentenced to death, but later pardoned him.
The new Bank, so as not to repeat the mistakes of the old, started to work under the strict control of the Riksdag of the estates.
No. 5. C. Hoare & Co, England, 1672
Hoare & Co private English Bank, the oldest Bank in the UK and fifth in the world. It was founded in 1672 by sir Richard Hoare, C. Hoare & Co. remains family owned and today it is controlled by the eleventh generation direct descendants of Hoare. Richard Hoare was a successful jeweler, jewelers then had a very safe space, which were required to credit their customers, with this started the work of C. Hoare & Co. The Bank became a symbol of gilded leather bottle.
No. 6. Metzler Bank, Germany, 1674г.
Metzler Bank, a private Bank with headquarters in Frankfurt am main. Metzler Bank is the second oldest Bank in Germany, and since its founding in 1674 until the present time is the exclusive property of the family of the founders.
In 1742, the son of founder Benjamin Metzler, was elected to the Board of Directors of the Frankfurt stock exchange. Since then, the owners of the Bank continuously represented in the management body of the Frankfurt stock exchange.
No. 7. Barclays England, 1690
Barclays is one of the world’s largest financial institutions with a broad presence in Europe, USA and Asia. The operations of the conglomerate are carried out through its subsidiary Barclays Bank PLC. Modern banking institution was founded in 1896. It happened after some small English banks merged and began to act under the common brand of Barclays and Co. Barclays is the title sponsor of the English football Premier League.
No. 8. Coutts England, 1692.
Coutts was founded in 1692 and in full control belongs to Royal Bank of Scotland Group.
The Bank which eventually became Coutts & Co, was originally a small shop, which was created on the beach of London, under the symbol of three crowns, goldsmith and banker John Campbell. The owner of the Bank died in 1712, leaving the business to his family members. But in 1755, the granddaughter of John Campbell, married merchant and banker, James Coutts and the Bank became known as Campbell & Coutts.
No. 9. England Bank of England, 1694
The Bank was originally built in the role of the Treasury for the British government. Today he is the Central Bank of England and organizes the work of the Committee of the whole monetary policy, responsible for managing the monetary policy of the country.
No. 10. Bank of Scotland Scotland, 1695
It was founded by act of Parliament of Scotland on 17 July 1695 in order to support entrepreneurship in the country and on the basis of the banking monopoly for a period of 21 years. This is the first and last commercial institution, which was established by the Scottish Parliament and functioning to this day.
In the beginning the Bank could not give loans to the government without the approval of Parliament, it stressed the focus of the Bank on business development in the future. These were the most ancient banks in the world.