chapter1 When Egypt fell under the rule of a Greek dynasty, the Ptolemies (332‐30 BC), the numerous scattered government granaries were transformed into a network of grain banks
Greek and Roman link
The Greeks coined money and developed a system of credit. The Roman Empire had a highly developed banking system, and its bankers accepted deposits of money, made loans, and purchased mortgages
History of International Banking
Collapsing Roman Empire in AD 476 was a major set back and banking declined in Europe.
Italians are the first to have organised international banking due to the increase of trade in the 13th‐ century.
The moneychangers of the Italian states developed facilities for exchanging local and foreign currency.
As trade is growing, merchants demanded other services, such as lending money, and gradually bank services were expanded. Banking in the modern sense of the word can be traced to medieval and early Renaissance Italy, to the rich cities in the north such as Florence, Venice and Genoa.
First reported international banks were established in Genoa, Milan, Venice and Florence in 12th Century
According to the Encarta encyclopaedia the first bank to offer most of the basic banking functions known today was the Bank of Barcelona in Spain.
This was founded by merchants in 1401.
This bank held deposits, exchanged currency, and carried out lending operations.
It also is believed to have introduced the bank check.

Three other early banks, each managed by a committee of city officials, were the Bank of Amsterdam (1609), the Bank of Venice (1587), and the Bank of Hamburg (1619).
These institutions laid the foundation for modern banks of deposit and transaction.
Since 1500:
Portuguese role ‐ explorations Dutch role ‐ explorations British role ‐ explorations
Emergence of London
 After Napoleon defeat
 Bank of England – 1694
 Issuance of