banking history

Banking history tracks how people and institutions have managed money over time. Early banks began in ancient civilizations like Mesopotamia for storing valuables. In medieval Europe, moneylenders and goldsmiths evolved into more formal institutions, offering safekeeping and loans. The Renaissance saw the rise of merchant banks, supporting trade. The 17th and 18th centuries introduced central banks, like the Bank of England, to stabilize economies. In the 20th century, technology transformed banking, leading to ATMs, online banking, and digital currencies. Overall, banking has developed from simple storage to complex systems facilitating global finance and economic growth.