12 Oldest Serving Bank in the World

Banks are the bedrock of modern economies, providing financial stability and growth. Some banks, however, have been doing this for centuries, weathering the storms of time and history.

In this article, we will look at the 12 oldest serving banks in the world, from Italy’s Monte dei Paschi di Siena, established in 1472, to France’s BNP Paribas, founded in 1848. Join us as we uncover the stories behind these institutions and their remarkable contributions to the world of finance.

12. UBS (Union Bank of Switzerland)

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UBS, short for Union Bank of Switzerland, is a Swiss multinational investment bank and financial services company headquartered in Zurich. 

It is one of the largest and most respected banks in the world, offering a wide range of services to clients globally, including wealth management, asset management, and investment banking.

Did You Know?

UBS was formed through the merger of the Union Bank of Switzerland and the Swiss Bank Corporation in 1998. 

The bank has a rich history of providing financial services and has played a significant role in shaping the Swiss banking industry. UBS operates in all major financial centers worldwide and is known for its strong focus on innovation and client service.

11. Banco Santander

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Banco Santander is one of the largest banks in the world by market capitalization and operates in 10 main markets. It offers a range of financial products and services, including retail banking, commercial banking, and investment banking.

Did You Know?

The bank was founded in the Spanish port city of Santander and was originally known as Banco Santander Central Hispano (BSCH) before adopting its current name.

It has a strong presence in Europe and Latin America, with significant operations in countries such as Brazil, Mexico, and the United Kingdom.

10. Wells Fargo

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Wells Fargo is an American multinational financial services company that has a long history in banking, express, and other financial services. It is headquartered in San Francisco, California. 

Wells Fargo operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company provides a range of banking, insurance, investment, mortgage, and consumer and commercial finance services.

Did You Know?

Wells Fargo played a significant role in developing the American West during the 19th century, providing banking, stagecoach, and express services. It was involved in transporting gold and delivering mail, becoming the primary means of long-distance communication and transportation in the West.

Today, Wells Fargo is one of the largest banks in the United States, serving millions of customers across the country.

9. Standard Chartered

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Standard Chartered is a British multinational banking and financial services company headquartered in London, England. It operates a network of more than 1,200 branches and outlets across more than 70 countries. 

The bank is focused on the Asia, Africa, and Middle East markets, where it has a long history and deep roots.

Did You Know?

Standard Chartered was formed by merging two banks, The Standard Bank of British South Africa and the Chartered Bank of India, Australia, and China. The merger took place in 1969, but both banks had long histories before that. 

The Chartered Bank was founded in 1853 by James Wilson following the grant of a Royal Charter by Queen Victoria. The Standard Bank was founded in 1862 by John Paterson in London as The Standard Bank of British South Africa.

8. BNP Paribas

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BNP Paribas is one of the largest banks in the world, with its headquarters in Paris. It offers a wide range of financial services, including retail banking, corporate and institutional banking, asset management, and securities services.

The bank has a presence in 72 countries and territories, serving more than 30 million customers worldwide. BNP Paribas is known for its strong commitment to sustainability and corporate social responsibility, with initiatives focused on environmental protection, social inclusion, and ethical business practices.

Did You Know?

BNP Paribas has a long history of innovation and expansion. In the 19th century, it played a key role in financing the industrial development of France, and in the 20th century, it expanded its operations globally through a series of mergers and acquisitions.

The merger of Banque Nationale de Paris (BNP) and Paribas in 2000 created one of the largest banking groups in the world, further strengthening BNP Paribas’ position as a leading global bank.

7. State Bank of India

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The State Bank of India (SBI) is the oldest commercial bank in India and a government-owned corporation. It has its headquarters in Mumbai, Maharashtra.

SBI is a multinational banking and financial services company with operations in more than 30 countries worldwide. It is considered one of the largest employers in the country, with over 200,000 employees.

Did You Know?

SBI traces its roots back to the Bank of Calcutta, which was established in 1806. It was one of the three banks founded during the British Raj, along with the Bank of Bombay and the Bank of Madras, which later merged to form the Imperial Bank of India.

In 1955, the Imperial Bank of India was nationalized and became the State Bank of India. SBI offers various banking products and services, including personal, corporate, and agricultural banking.

6. Bank of New York Mellon

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The Bank of New York Mellon, often referred to as BNY Mellon is one of the oldest banking corporations in the United States.

It was formed through the merger of The Bank of New York and Mellon Financial Corporation in 2007, although its roots trace back to The Bank of New York, which was founded by Alexander Hamilton in 1784.

Did You Know?

BNY Mellon is considered a systemically important bank and plays a crucial role in the global financial system, providing a wide range of financial services to corporations, institutions, and high-net-worth individuals.

5. Bank of England

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The Bank of England, established as a private bank in 1694 to act as the English Government’s banker, is the central bank of the United Kingdom. It is one of the oldest central banks in the world and serves as the model for many modern central banks.

The Bank is responsible for maintaining monetary stability, setting interest rates to control inflation and stabilize the economy, and regulating the financial system of the UK.

Did You Know?

The Bank of England is often called the “Old Lady of Threadneedle Street,” a nickname derived from its location in London. It was nationalized in 1946 and is now owned by the UK government, operating independently of political influence.

The Bank is also responsible for issuing banknotes in England and Wales, and it is the banker for the UK government and commercial banks.

4. Barclays

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Founded in London, Barclays is one of the oldest banks in the world. It started as a goldsmith banking business, offering currency exchange and bullion trading services.

Over the centuries, it has evolved into a global financial services provider, offering retail and commercial banking and investment banking services.

Did You Know?

The famous blue and white Barclays logo, featuring a spread eagle, has been used since 1777 and is one of the most recognizable bank logos globally.

3. C. Hoare & Co.

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Hoare & Co. is the oldest privately owned bank in the UK. Richard Hoare founded it in Cheapside, London. It has continuously been operated for over 300 years.

The bank is known for its conservative approach to banking and its focus on providing personalized services to its clients. C. Hoare & Co. has a strong reputation for financial stability and has withstood numerous financial crises throughout its long history.

Did You Know?

The bank has remained in the same family for over 300 years, with nine generations of Hoares running the business. C. Hoare & Co. is also known for its historic banking hall, which features original 17th-century oak paneling and has been preserved in its original state.

2. Berenberg Bank

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Berenberg Bank is the world’s oldest merchant bank, known for its focus on private banking and asset management. It has a long history of providing financial services to wealthy individuals and institutions.

Did You Know?

The same family has owned the bank for over 400 years. It is known for its conservative banking approach and commitment to maintaining long-term relationships with its clients.

1. Monte dei Paschi di Siena

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Monte dei Paschi di Siena is the oldest surviving bank in the world. It was founded in the Italian city of Siena and has a long history of providing banking services. The bank’s original purpose was to offer charitable loans to the poor, and it later expanded its services to include traditional banking operations.

Over the centuries, Monte dei Paschi di Siena has weathered numerous financial crises and economic downturns, demonstrating its resilience and enduring presence in the banking industry.

Did You Know?

During World War II, Monte dei Paschi di Siena played a crucial role in assisting the local population by providing financial support and services despite the challenging circumstances of the war.

Conclusion

The 12 oldest serving banks in the world stand as pillars of financial history, each with its own story of resilience and adaptation. From their humble beginnings to their current global presence, these banks have withstood centuries of change, embodying the evolution of banking and finance. Their enduring legacy is their ability to navigate challenges and remain relevant in an ever-changing world.