Banking is an inevitable part of life since human civilization. From the barter systems to the trading, banking and finance were known as the world’s earliest banks. It was during the Renaissance era, the modern type of banking and its features appeared. It was also during this time one of the prominent bank known as the Medici Bank got established it was the later shut down in 1494. Banks are important as they provide finances to the business. They work very fast as compared to other institutions and provide efficient services. Banks are required for the safe flow of money in society. Banks help the country by giving loans and secure our money. However, these banks do not exist now; the below-given paragraph will talk about the tale of some of the oldest and the wealthiest banks that have been in the banking field for several years.
Located in London, England, Coutts was established in the year 1692. The famous bank was once a goldsmith bankers shop. It was inaugurated by John Campbell, who was a young Scottish goldsmith-banker. After his death, Polly, his granddaughter married James Coutts, a banker from which the bank got its present name. Since 2000, James Coutts own the RBS, Royal Bank of Scotland.
Located at London, England, the bank Barclays was established in the year November 17, 1690. It is also known as the sixth oldest and richest bank on Earth. This bank initiated its first services as a goldsmith banking business. The bank was established by the famous John Freame and Thomas Gould in the year 1690. It was in 1736, James Barclay, Freame’s son-in-law, became a partner and rest was history.
Bankhaus Metzler also known as the Metzler Bank, was established in the year 1674 at Frankfurt, Germany. The business was cloth trading by Benjamin Metzler. It was around 1760, and the firm got shifted to the title, bank. At present, the bank gives monetary services as a dealer bank, as an asset supervisor, and as corporate banking consultant as well.
C. Hoare & Co
The C. Hoare & Co bank was established in the year 1672 and is located in London, England. It is one of the oldest and the smallest private bank in the United Kingdom. Endowed by Sir Richard Hoare, is still occupied by the same family. Known as one of the oldest and smallest prestigious private banks, C. Hoare & Co has made relationships with many famous customers like Jane Austen and Lord Byron, to name a few.
The bank, Sveriges Riksbank, was founded in the year 1668 and is located in Stockholm, Sweden. The bank is commonly known as the Riksbanken. It is the central bank of Sweden. Riksbanken is one of the oldest banks in its full stretch continuous operation.