ORIGIN OF BANK

The word "Bank" is derived from the word "Bancus or Banque"which means bench. Jews, who were considered to be the early bankers, transacted their business on benches in the market. Some people trace the origin of the German word "Banck" meaning a joint  stock fund.  Similarly some people believed that it is derived from the French Word "Bangue" while other believed in Italian word "banca". Those ancient money lenders used to conduct their business on a bench. This described quite well what historians have observed concerning the first bankers, who lived more that 2000 years ago. Traditional forms of banking were traced during the civlization of Greek, Rome and Mesopotamia.

The babylonians were consdered to be the earlier people to develop a systemetized banking system. It is said that temples of Babylon were used as banks and as such the temples of Ephesus and Delphi were famous asa great banking instititions. It was in the 12th Century that some banks were established in venice and Geneva. Bank of Venice was established in 1157 AD. These BAnks were Simply receiving deposits and lending money to the people. In fact there werenot banks of the modern type.

The history of modern banks begins from Bank of Venice estblished in 1157AD, Bank of Barcelone established in 1401 AD, Bank of Geneva established in 1407 AD, Bank of Asterdam established in 1609 AD and Bank of England, which was established in 1694 Ad. Modern banking may corre3ctly be attributed to the merchants, the goldsmiths and the money lenders.

 The earliest evidence of money-changing activity is depicted on a silver drachm coin from ancient Hellenic colony Trapezus on the Black Sea, modern Trabzon, c. 350–325 BC, presented in the British Museum in London. The coin shows a banker's table  laden with coins, a pun on the name of the city. In fact, even today in Modern Greek the word Trapeza means both a table and a bank