History of Europe

When was first Bank in the world established?

The first bank in the world is widely considered to be the Bank of Venice, which was established in 1157 in the city of Venice, Italy. Initially known as the "Banco della Piazza di Rialto," it was a public deposit bank that facilitated financial transactions and provided loans to merchants and traders. The bank played a crucial role in supporting Venice's thriving trade and commerce during the Middle Ages and became one of the most prominent financial institutions of its time.