Banks are the financial institutions which accept financial deposits and channel those deposits to the lending services, in their power.
They channelize the deposits either by direct loaning to entities or indirectly via the capital markets. In other words a bank links the entities with capital deficits to the entities with capital surplus.
Banks due to their financial role and the influences are of great importance to the functioning/ sustenance of an economy. Banks have been present in the world since a long time now. There are a few very old banks that still exist in the world.
The functions or the roles these old banks have played since their formation may vary, but the banks are still in function. If one compiles a list of the oldest banks in the world, it is found that the Monte Dei Paschi Di Siena is the oldest bank that is still existent in the world today.
This oldest stated bank was established in the year 1472, its headquarters in Siena Italy. As of 2010 the banks revenue has been recorded at 4.251 billion Euros.
The other oldest banks are Berenberg Bank established in 1590, the Citibank Loan (Amsterdam) established in 1614, the Sveriges Riksbank established in 1668. There are many other banks which were established long ago and are still functioning in the world today.