Q:

What was the first bank in the world?

A:

Quick Answer

The world's first bank on record was the Taula de la Ciutat, which opened in Barcelona in 1401. Banking practices can be traced back to the Roman Empire.

Know More
What was the first bank in the world?
Credit: caracterdesign E+ Getty Images

Full Answer

The Taula de la Ciutat opened in Barcelona in 1401 to act as a treasury resource for the Catalonian government. The bank is on record as the first official bank in the world, although the practice of banking has been traced back for several centuries.

The oldest continually operating bank in the world is Banca Monte dei Paschi di Siena, which has been operating as a bank in Italy since 1472. It was originally named The Monte di Pieta. The original goal of the bank was to offer charitable loans to the poor. The bank continues to operate today and has branches throughout Italy.

Other longstanding banks include Berenberg Bank, which has been operating in Germany since the 16th century, and C. Hoare & Co., which was founded in London in 1672. Bank of New York, which is now known as Bank of New York Mellon was founded in 1784.

Learn more about Ancient History
Sources:

Related Questions

  • Q:

    Why did the Sumerians record the positions of the stars and planets?

    A:

    Like many ancient people, the Sumerians recorded the position of the stars and planets as part of their practice of astrology. They believed earthly events could be predicted by close examination of the heavens.

    Full Answer >
    Filed Under:
  • Q:

    What is China famous for?

    A:

    China is one of the largest nations in the world and has a deep, rich history. Some of the things that make China so popular are its ancient traditions, culture and medicinal practices. China's alternative and traditional medicines are adapted in western countries and are supported and practiced by western health care professionals.

    Full Answer >
    Filed Under:
  • Q:

    What is 1 AD?

    A:

    The year 1 AD was the first year of the common era in the parts of the world that use the Gregorian calendar. According to New Advent, the dating convention was devised by Saint Dionysius Exiguus in the 6th century as a Christian replacement for the previous Era of Diocletian.

    Full Answer >
    Filed Under:
  • Q:

    Why did the Aztecs sacrifice humans?

    A:

    The Aztecs sacrificed humans because they believed that without the sustenance of human life-blood, the sun would fail and the world would end. Their gods had sacrificed themselves to bring the world into existence, so humanity must continue the sacrifices to ensure the world remained sustained.

    Full Answer >
    Filed Under:

Explore