5 World's Oldest Bank

5 World's Oldest Bank

Bank of New York (now Bank of New York Mellon)
New York, New York (Established 1784)

It started with a press release on the New York package, announced plans to establish New York's first bank in 1784. Alexander Hamilton, a respected lawyer at the time, designed the constitution and leading bank Bank of New York through the formation and early years. Eight years later, it was the first company to be publicly traded New York Stock Exchange when it opened in 1792. There is also an abundance of history behind 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 One 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, Bank of Scotland was the first to print its own paper currency. Furthermore, it is unique in the sense that he founded to help businesses, while the Bank of England, which was founded one year earlier, there are mainly to finance government defense spending. Early on, it faces fierce competition from the Royal Bank of Scotland, and in one case, RBS (the "new" bank) began hoarding bank notes issued by 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 bulan.Ini not drown them though, and durable this bank remains as the only existing commercial institution created by the Scottish Parliament. Bank of Scotland joined the Halifax Bank to HBOS in 2001.

C. Hoare & Co
London, England (Established 1672)

Before modern numbered roads, signs that people use to find a store, and Sir Richard Hoare could not pick a much better symbol than the Sign Gold Bottle, bottle gold as a sign of luxury and wealth commonly used by goldsmiths that are precursors to establish a modern banking system and fiat currency. To note is the fact that their building was evacuated during World War II and saved from the fire by some brave employees. In addition, the bank still wholly family owned and operated by direct descendants of Sir Richard Hoare.

Berenberg Bank

Hamburg, Germany (Established 1590)

Formed in 1590 by Hans and Paul Berenberg, two brothers who ran a cloth trading and import / export business, the company is very lucky to grow in the future prosperity in Hamburg, Germany. The city quickly grew as a hub of finance and trade activities, and they can grow together with other members of the small, tight group of Dutch people who did not even have full citizenship rights in Hamburg. Berenberg Bank today offices throughout Europe, and remains Germany's oldest private bank today.

World's Oldest Bank: Banca Monte dei Paschi di Siena

Siena, Italy (Established 1472)

Originally formed as a Monte in Pieta, or the Monte Pio, to lend to the poor of charity, this is the longest in the world bank. "Monte," which means "heap" refers to the collection of money used for charitable distribution, and the bank actually serve to benefit the city's economy. One interesting historical note is that the citizens of Siena put up income from 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 stands as the oldest bank in the world so far, and remains a respectable bank that has branches throughout Italy.

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