The history and origin of the bank

Bank = bench.

Banks first appeared in Europe, and are called banks in English, and the word ** is derived from the Italian word banco (bench). Why did benches evolve into the word bank? It turns out that there is a story in it.

In the 11th century, European commerce was on the rise, when Venice and Genoa were the most important communication between Europe and Asia, businessmen from all over the world gathered, circulating the currencies of various countries, in order to identify and exchange, numismatists appeared. Due to the poor conditions, the office only has one bench, so the merchants called it banco.

Interestingly, when translated into Chinese, it is called "bank", and there is a story here. It turns out that when this word was introduced to our country, our country's currency was mainly **. Long before Western civilization came to China, there were already money banks, silver trumpets, and other commercial banks in China that engaged in monetary business.

The word "silver" became synonymous with money, and "xing" came from a trading house, so the company opened by foreigners in China was later called "foreign firm".

The earliest mention of the term bank was in the sixth year of Xianfeng (1856) in the Qing Dynasty, and a book published in Hong Kong talked about "bank money bills". The first bank opened in China was the "China Commercial Bank" (1897). In 1904, the Ministry of Finance of the Qing Dynasty requested the establishment of the "Daqing Hubu Bank", which was renamed the "Daqing Bank" in 1908, which was the first national bank in China.

--- about the origin of the Bank of China

The Bank of China was established in 1912 with the approval of Sun Yat-sen and is the oldest bank in China. At present, Bank of China is a leading international bank in China, with branches all over the world, and its main business includes commercial banks and investment banks.

comprehensive financial services including banking and insurance business. At the end of 2002, the total assets of Bank of China Group were 3,593.9 billion yuan, the total liabilities were 3,357.4 billion yuan, and the owner's equity was 219.7 billion yuan. As of December 31, 002, Bank of China had 2,090 domestic institutions and 543 overseas branches in 26 countries and regions around the world.

In 1994 and 1995, Bank of China became a note-issuing bank in Hong Kong and Macau respectively.

In the case of China, there is a difference between the north and the south, the former has a silver number, and the south is called a money bank, which was originally only to help people manage wealth and send remittances.

Later, it gradually became a deposit service, and it began to offer interest, and gradually it issued silver bills.

In the West, the situation is similar.

The word bank, derived from the Italian banca, originally meant bench, chair, and was the business utensils of the earliest money changers in the market. The English translates to bank, which means a chest for depositing money. In China, the reason why Hu Liangku, who is called a "bank", is related to the history of China's economic development.

In the history of our country, ** has been one of the main monetary materials. "Silver" often represents currency, while "bank" is the name given to large commercial institutions. The term "banks" refers to large financial institutions related to banking as banks, which was first seen in the "New Chapter of Capital Administration" written by Hong Ren of the Taiping Heavenly Kingdom.

The earliest bank is believed to be the Italian bank founded in Venice in 1407. Subsequently, banks were set up in Amsterdam in the Netherlands, Hamburg in Germany, and London in the United Kingdom. At the end of the eighteenth century and the beginning of the nineteenth century, banks were generally developed.

In the 17th century, some commoners became wealthy merchants through business. They kept their money in the king's coffers for safety. It should be noted here that there was no banknote at that time in the trouser hole, and the so-called saving money refers to depositing **.

1. The word bank is derived from the Italian word banca, which means bench, and was used by early bankers when making transactions in the market. The English translates to bank, meaning a chest where money is kept, and early bankers were called "people who sit on benches".

2. The emergence and development of banks are linked to the development of the monetary commodity economy, and the currency exchange industry in the pre-capitalist society is the basis for the formation of the banking industry. At first, the currency exchange business was only engaged in the business of minting and exchanging coins, and later it kept money, received and paid cash on behalf of merchants, etc. In this way, a large amount of monetary funds gradually amassed in the hands of the exchange merchants.

When money changers are engaged in the business of lending money, the money changer industry develops into a banking industry.

3. The earliest banking industry originated from the currency exchange industry in ancient Western Europe. Initially, money changers only exchanged money for merchants, but later developed to hold money for merchants, receive and pay cash, handle settlements and remittances, but do not pay interest, and charge storage fees and handling fees. With the development of industry and commerce, the business of money changers further developed, and they gathered a lot of money in their hands.

The earliest bank in China was called "Qianzhuang".

Formed in the middle of the Ming Dynasty, it has the nature of a bank.

Following the "money village" in the Ming Dynasty, the "ticket number" appeared in the Qing Dynasty.

The first domestic bank in China to use the name of a bank was the "China International Commercial Bank", which was established on May 27, 1897.

The earliest national bank in China was the "Hubu Bank", which was founded in 1905, and later called the "Daqing Bank".

After the Xinhai Revolution, Daqing Bank was reorganized into the "Bank of China", which has been used to this day.