History of Banking
Before currency was invented, the purchase of goods and services had been conducted mainly through barter system or gift economies. Slowly as the time rolled by, coins made inroads and that day was not very far when people began to deposit these metals with goldsmiths who owned strong rooms where it would be stored safely and securely for a nominal fee. Banking has evolved from barter system to modern ebanking and internet banking which encompasses a whole range of banking and related services.
Banks have been around since the first currencies were minted, perhaps even before that, in some form or another. This section on our website take you through the vibrant, facinating and dynamic history of banking industry, putting light on some of the major banking institutions that happened to be key players in shaping the history of banking, as it stands today!!
The banking industry has evolved from barter system and gift economies of earlier times to modern globalized and technology savy internet and e-banking. A overview of history of banking detailing the major events of banking industry.
The first regular institution resembling what we call a Bank was established at Venice, nearly seven hundred years ago in 1171.The credit for the first beginnings of modern banking practices, goes to Venice and this article provide a short history of Bank of Venice.
In 1407, the first modern bank was founded in Italy under the name of Banco di San Giorgio. The Bank or Company of Saint George, was a financial institution of the Republic of Genoa and was one of the oldest chartered banks in Europe.
Sveriges Riksbank (Riksbanken), is the central bank of Sweden and the world's oldest central bank and also the first European bank to issue bank notes. It is sometimes called the Swedish National Bank or the Bank of Sweden. Learn more!
Swiss banks enjoy a worldwide reputation for protecting the identity of depositors. This important characteristic helped Switzerland grow to one of the world’s major banking centers in the twentieth century. Another factor contributing to the growth of Swiss banking is Switzerland’s position of neutrality. Learn more about swiss banks.
The Bank of England (formally the Governor and Company of the Bank of England) is the central bank of the United Kingdom and the model on which most modern central banks have been based. It is the second oldest central bank in the world (the oldest being the Sveriges Riksbank (Bank of Sweden), established in 1668). Learn more!