Tuesday, September 24, 2013

The World's Oldest Bank

 Bank become a mandatory requirement of mankind. apart from the level of security in storing treasures, and the means to borrow funds for working capital, the bank is also considered capable of maintaining economic stability. distributed following info about World's Oldest Bank. of course the banks located in the following developed countries in America and Europe.

Bank of New York (now Bank of New York Mellon)
New York, New York (Founded in 1784)
This began with a press conference in New York package, announced plans to establish the first bank in New York in 1784. Alexander Hamilton, a respected lawyer at the time, designed the constitution and lead bank Bank of New York through the formation and early years. Eight years later, it was the first company to be publicly traded when the New York Stock Exchange opened in 1792. There is also an abundance of history behind the Mellon Financial Corporation dating back to the Industrial Revolution, who joined the bank in New York in 2007 to Bank of New York Mellon. Today, it is the oldest bank in the United States, and they get to have The Wall Street as their address to prove it.

Bank of Scotland (now Halifax Bank of Scotland)
Edinburgh, Scotland (Established 1695)
Although the concept of currency and bank notes are not always new to Scotland in the 17th century, the Bank of Scotland was the first to print their own paper currency. Furthermore, it is unique in the sense that it founded to help businesses, while the Bank of England, which was founded one year earlier, there was mainly to finance the government's defense spending. Early on, it faced fierce competition from the Royal Bank of Scotland, and in one case, RBS (the "new" bank) began hoarding bank notes issued by the Bank of Scotland (Old Bank) in order to bring them at once, forcing the Bank of Scotland parents to call them and stop payment of the loan for six months. It did not sink them though, and durable this bank remains as the only existing commercial institution created by the Scottish Parliament. Bank of Scotland joining a Halifax Bank HBOS in 2001.

C. Hoare & Co
London, England (Established 1672)
Before modern roads totaled, the signs that people use to search for a store, and Sir Richard Hoare could not choose a symbol that is much better than Gold Sign bottle, like a bottle of gold is a sign of luxury and wealth that are commonly used by goldsmiths were precursors to establish a more modern banking system and fiat currency. To note is the fact that their building was evacuated during World War II and was rescued from the fire by a few brave employees. In addition, the bank is still completely family-owned and managed by direct descendants of Sir Richard Hoare.

Berenberg Bank
Hamburg, Germany (Founded in 1590)
Formed in 1590 by Hans and Paul Berenberg, two brothers who ran a cloth trade and import / export business, the company is very fortunate to grow up in a period of prosperity in Hamburg, Germany. Rapidly growing city as a financial hub and trading activities, and they can evolve along with the other members of the small, tight group of Dutch people who did not even have the right to full citizenship in Hamburg. Berenberg Bank today offices across Europe, and remains the oldest private bank in Germany today.

Oldest in the World Bank: Banca Monte dei Paschi di Siena
Siena, Italy (Established 1472)
Originally formed as the Monte di Pieta, or Monte Pio, to provide loans to the poor from the charity, this is the longest in the world bank. "Monte," which means "heap" refers to the collection of the money used for charitable distribution, and the bank really serves to benefit the city's economy. One interesting historical note is that the citizens of Siena put up the income of the land as collateral for loans to agricultural and urban infrastructure, which led to it being referred to as Monte dei Paschi in reference to the ground. Today it stands as the oldest bank in the world by far, and remain a respectable bank that has branches all over Italy. - The World's Oldest Bank

Tell me your opinion about these banks below :)
Source : Here

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