The 3 Oldest Banks in the World
Bank has a long history. What originally only performed a function as simple as being a depository for money, now the task is much more complicated, namely meeting the needs of modern humans.
Nowadays, banks have also implemented modern technology to support their customers in transacting between countries and continents. In the world, there are a number of banks that were founded centuries ago and these are the three banks that are considered the oldest.
1. Banca Monte dei Paschi, Siena, Italy
This is the oldest bank in the world. This bank was founded in 1472 and was originally intended to help poor people. This philanthropic mission nicknamed "Monte di Pieta" or "Monte Pio" is expected to support the city's economic growth.The word monte, which is pile, refers to the large amount of money distributed to help the city's poor. The word paschi is related to the livelihood of Siena residents at that time, which was mostly related to agriculture and livestock herding.
2. Berenberg Bank, Hamburg
Based on the idea of the two Berenberg brothers, Hans and Paul, this bank was founded in 1590. Its aim was to help manage the import-export business in Germany.Berenberg Bank seemed to be born at the right time because the City of Hamburg was experiencing a period of prosperity at that time. The founder was sociable enough to win over Dutch businessmen who did not have full citizenship in Hamburg.
3. Choare & Co, London, England
This bank, which was founded in 1672, provides individual banking products, financial planning and investment management. During World War II, this bank was engulfed in fire and was saved by a number of brave employees. A typical C Hoare & Co customer is a person or family who has a high level of network. In Great Britain, this bank is the oldest.
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