Did you know that some banks have been around for over 500 years? The oldest banks in the world have witnessed economic revolutions, royal transitions, and even world wars—yet they continue to thrive today.
From the streets of medieval Italy to the financial hubs of today, these institutions have shaped global finance as we know it. If you’ve ever wondered which banks have stood the test of time, let’s take a deep dive into the list of oldest banks in the world and their fascinating journeys.
Oldest Banks in the World
The oldest bank in the world is Banca Monte dei Paschi di Siena, founded in 1472 as a mount of piety in Siena, Italy.
It was later refounded in its present form in 1624 and has remained in continuous operation ever since, making it the world’s longest-running financial institution.
Additionally, the oldest merchant bank is Berenberg Bank, established in 1590 in Hamburg, Germany, and still run by the same family.
The table below shows the oldest banks in the world and when they were founded:
| Oldest Banks in the World | Year of Establishment | Country of Origin |
| Banca Monte dei Paschi di Siena | 1472 | Italy |
| Berenberg Bank | 1590 | Germany |
| Sveriges Riksbank | 1668 | Sweden |
| C. Hoare & Co. | 1672 | UK |
| Metzler Bank | 1674 | Germany |
| Barclays | 1690 | UK |
| Coutts | 1692 | UK |
| Bank of England | 1694 | UK |
| Bank of Scotland | 1695 | UK |
Check out some of the oldest banks in the world and explore the interesting facts-
Banca Monte dei Paschi di Siena (1472, Italy)
Founded in 1472 in the heart of Tuscany, Banca Monte dei Paschi di Siena (MPS) holds the distinction of being the oldest bank in the world still in operation.
Originally established to provide loans to the underprivileged, it has grown into a full-fledged financial institution serving individuals, businesses, and even students seeking education financing.
Check out some fun facts about Banca Monte dei Paschi di Siena, one of the oldest surviving banks in the world-
- Over 550 Years of Banking: This bank predates the discovery of America by Christopher Columbus (1492) and has survived everything from the Renaissance to the digital banking era.
- A Bank for the People: It was founded as a charitable institution to help Siena’s citizens access financial support, particularly farmers and small business owners.
- A Historic Headquarters: Its main building, Palazzo Salimbeni, is a stunning Gothic structure that has stood for centuries and is a must-visit for history buffs.
- Linked to Education: The bank has historically supported universities and student programs, playing a role in Italy’s academic financing landscape.
- Survivor of Economic Turmoil: Despite facing financial crises, bailouts, and restructuring, MPS continues to operate, making it a true banking survivor.
Berenberg Bank (1590, Germany)
Founded in 1590 in Hamburg, Germany, Berenberg Bank is the world’s oldest merchant bank and one of Europe’s most prestigious private banks.
It was established by the Berenberg family, who were originally cloth merchants. The bank then expanded into finance and trade, eventually becoming a powerhouse in wealth management and investment banking.
Today, it continues to serve high-net-worth individuals (HNIs), businesses, and even students looking for financial guidance, including education loans in Germany.
Explore some amazing facts about Berenberg Bank, one of the oldest and best banks in Germany.
- Family Legacy: The bank has remained family-controlled for over 400 years, making it one of the oldest privately owned banks in the world.
- Exclusive Clientele: Berenberg Bank has served European aristocracy, industrialists, and even influential students seeking educational endowments.
- Commitment to Education: The bank has historically supported financial literacy programs, student investment competitions, and economic research initiatives.
- Surviving Global Challenges: Despite surviving economic downturns, world wars, and financial crises, Berenberg Bank has continuously adapted to modern banking trends while maintaining its exclusive client approach.
Sveriges Riksbank (1668, Sweden)
Sveriges Riksbank, founded in 1668, is the world’s oldest central bank and a pioneer in shaping modern monetary policies.
Established to stabilize Sweden’s currency and support economic growth, it introduced many financial innovations that laid the groundwork for central banking systems worldwide.
Today, it manages Sweden’s monetary policy, oversees financial stability, and even plays a role in student-related financial literacy programs.
Check out fun facts about Sveriges Riksbank in Sweden.
- First Central Bank: It was the first institution to operate as a true central bank, setting an example for later institutions like the Bank of England.
- Introduced the World’s First Banknotes: In the 1660s, Sweden was among the first countries to issue paper money, changing how transactions were conducted.
- Commitment to Innovation: The bank is at the forefront of digital banking and has been exploring the e-krona, Sweden’s potential digital currency.
- Supports Financial Education: Sveriges Riksbank actively promotes financial literacy among students through educational programs and collaborations with universities.
- Awards the Nobel Prize in Economics: The bank sponsors the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, one of the most prestigious awards in the field.
C. Hoare & Co. (1672, UK)
Founded in 1672, C. Hoare & Co. is the UK’s oldest privately owned bank and one of the longest-running family-owned banks in the world.
Established by Sir Richard Hoare in London, the bank quickly gained a reputation for trust and discretion, serving royalty, writers, and entrepreneurs alike.
Even today, it remains independent and family-run, offering personalized banking services that cater to high-net-worth individuals, including students from prestigious universities who require specialized financial solutions.
Many Indian banks are also providing education loans to study in the UK and help students pursue their global dreams.
Let’s explore some fun facts about C. Hoare & Co., one of the oldest banks in the world.
- Oldest Family-Owned Bank: The Hoare family has run the bank for over 12 generations, making it a rare example of uninterrupted family banking.
- Clients of Influence: The bank has served historical figures such as Lord Byron, Jane Austen, and Samuel Pepys.
- Exclusive Services: Unlike most banks, it does not offer credit cards but focuses on bespoke financial management and advisory services.
- A Student Connection: The bank has historically supported academic institutions and students, offering trust funds and specialized banking for scholars.
- Surviving Challenges: Despite wars, financial crises, and changing regulations, C. Hoare & Co. has remained steadfast in its commitment to traditional banking values.
Also Read: Click to know more about the top 10 foreign exchange companies in the world and explore the best one for your needs.
Metzler Bank (1674, Germany)
Metzler Bank is one of Germany’s oldest private banks, which was founded in Frankfurt in 1674. It has remained an independent, family-owned institution for over 350 years.
Originally a textile trading company, it gradually evolved into a financial institution, specializing in asset management, capital markets, and corporate finance.
Today, it serves a diverse clientele, including businesses, institutional investors, and students pursuing careers in finance who seek internships and financial guidance from one of Europe’s most historic banks.
Check out the fun facts about Metzler Bank below.
- From Textiles to Banking: The Metzler family originally ran a textile trading business before transitioning into banking in the late 1600s.
- Germany’s Oldest Private Bank: It is the longest-running family-owned private bank in Germany, known for its conservative investment approach.
- Strong Educational Ties: Metzler Bank collaborates with universities and business schools, offering scholarships and financial education programs for students.
- One of Frankfurt’s Financial Pillars: The bank played a key role in developing Frankfurt as a major European financial hub.
- Still Family-Owned: Unlike many historic banks that merged or were acquired, Metzler Bank has remained under family leadership for over three centuries.
Barclays (1690, UK)
Founded in 1690 in the City of London, Barclays started as a modest goldsmith banking business run by John Freame and Thomas Gould.
Over the centuries, it transformed into one of the world’s most influential financial institutions, pioneering many innovations in modern banking.
Today, Barclays offers a range of banking services, including top student accounts in the UK, education loans, and financial planning tools for students pursuing higher education.
Find some interesting fun facts about Barclays, one of the most popular, oldest and top banks in the UK with multiple branches worldwide.
- Introduced the First ATM: Barclays launched the world’s first automated teller machine (ATM) in 1967, revolutionizing banking convenience.
- A Leader in Digital Banking: It was among the first banks to adopt mobile and online banking, catering to tech-savvy students and professionals.
- Strong Student Banking Services: Barclays provides student-friendly accounts, overdraft options, and financial literacy programs.
- Historical Philanthropy: The bank has a long tradition of supporting education through scholarships and university partnerships.
- A Bank That Grew Globally: From a small goldsmith’s business, Barclays has expanded into an international banking powerhouse operating in over 40 countries.
Coutts (1692, UK)
Coutts is one of the oldest banks in London, which was founded in 1692. It is known for its exclusivity and high-net-worth clientele.
Originally established as a goldsmith-banking business by John Campbell, it later became the go-to bank for aristocrats, business elites, and even students from prestigious universities who required financial advisory services.
Some of the amazing facts about Coutts are listed below-
- The Bank of Royals: Coutts has been the banker for the British royal family for centuries, managing the finances of Queen Elizabeth II and other royals.
- A Bank with a Literary Connection: Famous writers like Charles Dickens referenced Coutts in their works, cementing its reputation in literary history.
- Exclusive Clientele: The bank only serves high-net-worth individuals, making it one of the most selective financial institutions in the world.
- Student Connections: While primarily a private bank, Coutts has historically supported scholarships and academic trusts for students in elite institutions.
- Historic Location: The bank’s headquarters on the Strand in London has been a landmark in British finance for centuries, symbolizing stability and prestige.
Bank of England (1694, UK)
Founded in 1694, the Bank of England is the United Kingdom’s central bank and a cornerstone of global financial stability.
Initially established to raise funds for war efforts, it evolved into a regulatory powerhouse, setting monetary policies, issuing banknotes, and overseeing economic stability.
Students studying finance, economics, or banking often refer to the Bank of England’s research and reports for academic insights.
Check out the fun facts about the Bank of England below.
- First Official UK Banknotes: It was the first bank in England to issue standardized banknotes, shaping modern currency systems. One can return the fake notes if you identify counterfeit pounds while in the UK.
- The ‘Old Lady of Threadneedle Street’: The bank’s famous nickname comes from an 18th-century political cartoon that depicted it as an old woman guarding British wealth.
- Gold Vault with 400,000 Bars: The bank’s underground vault holds one of the largest reserves of gold in the world.
- Educational Contributions: The Bank of England runs financial literacy programs and provides internship opportunities for students interested in economic policy.
- A Model for Central Banking: Many countries modeled their central banks after the Bank of England due to its pioneering role in monetary policy.
Bank of Scotland (1695, UK)
Established in 1695, the Bank of Scotland is one of the oldest surviving banks in the UK and a cornerstone of Scotland’s financial system. Created to support trade and economic growth, it became a vital institution in the development of Scottish banking.
Today, it is part of Lloyds Banking Group, continuing to offer a wide range of financial services, including student loans and accounts designed to help university students manage their finances effectively.
Let’s explore some interesting facts about the Bank of Scotland.
- First Chartered Bank in Scotland: It was the first bank in Scotland to receive an official charter, setting the foundation for modern Scottish banking.
- Introduced Paper Money: It was among the first banks in the UK to issue paper currency, making transactions more accessible for businesses and individuals.
- Strong Student Focus: The bank has historically supported student financing, offering education loans and tailored banking solutions for students studying in Scotland.
- Survived a Banking War: It faced fierce competition from the Royal Bank of Scotland, leading to a financial rivalry that shaped the UK’s banking landscape.
- Innovative Digital Banking: It has embraced modern banking technology, offering mobile and online banking solutions to students and customers across the UK.
List of Oldest Banks in the US
The banking system in the United States has evolved significantly over the past few centuries. Some of the oldest banks in the US were established before the country gained independence and have played a crucial role in shaping its financial landscape.
Check out the table below to find out the first banks in the US.
| Bank Name | Year Founded |
| Bank of New York Mellon | 1784 |
| State Street Corporation | 1792 |
| The Bank of Massachusetts (now Bank of America) | 1784 |
| The Farmers’ Bank of Delaware | 1807 |
| The Bank of Georgetown | 1814 |
| Chemical Bank (now part of JPMorgan Chase) | 1824 |
| Citibank | 1812 |
| The Union Bank | 1839 |
| The Merchants’ Bank of New York | 1803 |
| Wells Fargo | 1852 |
List of Oldest Banks in India
India’s banking history dates back to ancient times, but modern banking began in the late 18th century. Many of the oldest banks in India played a pivotal role in supporting trade, agriculture, and industrialization.
| Bank Name | Year Founded |
| Bank of Hindustan | 1770 |
| Allahabad Bank (now part of Indian Bank) | 1865 |
| Punjab National Bank | 1894 |
| Bank of India | 1906 |
| Canara Bank | 1906 |
| Corporation Bank (now part of Union Bank of India) | 1906 |
| Indian Bank | 1907 |
| Central Bank of India | 1911 |
| Bank of Baroda | 1908 |
| Reserve Bank of India (as central bank) | 1935 |
Also Read: Master the world currency symbols with our comprehensive guide, covering unique symbols and names from every country.
List of Oldest Banks in Canada
Canada’s banking system is known for its stability and resilience. Some of its oldest banks in Canada have been instrumental in the country’s economic development.
Explore the list of oldest banks in Canada below.
| Bank Name | Year Founded |
| Bank of Montreal (BMO) | 1817 |
| The Bank of Nova Scotia (Scotiabank) | 1832 |
| Royal Bank of Canada (RBC) | 1864 |
| Toronto-Dominion Bank (TD Bank) | 1855 |
| Canadian Imperial Bank of Commerce (CIBC) | 1867 |
| National Bank of Canada | 1859 |
| HSBC Bank Canada | 1981 (Canada branch) |
| Laurentian Bank of Canada | 1846 |
| Alberta Treasury Branches (ATB Financial) | 1938 |
| Canadian Western Bank | 1984 |
List of Oldest Banks in Australia
The oldest banks in Australia have supported economic growth, trade, and infrastructure development since the early days of European settlement. Explore the list of ancient banks in Australia below.
| Bank Name | Year Founded |
| Bank of New South Wales (now Westpac) | 1817 |
| Commonwealth Bank of Australia | 1911 |
| National Australia Bank (NAB) | 1858 |
| Australia and New Zealand Banking Group (ANZ) | 1835 |
| Bank of Queensland | 1874 |
| Macquarie Bank | 1969 |
| AMP Bank | 1849 |
| Bendigo and Adelaide Bank | 1858 |
| St. George Bank (now part of Westpac) | 1937 |
| Suncorp Bank | 1902 |
To sum up, the world’s oldest banks are more than just financial institutions; they are historical landmarks that have shaped the global economy.
Whether you’re an investor, a historian, or simply curious about banking history, these banks offer a fascinating glimpse into the financial world’s past and future.
Looking for more banking insights? Stay updated with the latest financial trends, banking history, and global banking insights by exploring our blogs and checking out the FAQs section below.
FAQs
The oldest bank in the world still in operation is Banca Monte dei Paschi di Siena, founded in 1472 in Italy. It has been serving customers for over 550 years!
Here are the 10 oldest banks that have survived centuries:
Banca Monte dei Paschi di Siena (1472, Italy) – Oldest bank still running
Berenberg Bank (1590, Germany) – Oldest merchant bank
Sveriges Riksbank (1668, Sweden) – First central bank
C. Hoare & Co. (1672, UK) – Oldest privately owned bank in the UK
Metzler Bank (1674, Germany) – Oldest family-run bank in Germany
Barclays (1690, UK) – One of the biggest British banks today
Coutts (1692, UK) – Banker to the British Royal Family
Bank of England (1694, UK) – UK’s central bank
Bank of Scotland (1695, UK) – Scotland’s first chartered bank
Crédit Industriel et Commercial (1859, France) – One of France’s oldest banks
Many historical banks are still operating, but the oldest ones still in business include:
Banca Monte dei Paschi di Siena (1472, Italy)
Berenberg Bank (1590, Germany)
Sveriges Riksbank (1668, Sweden)
C. Hoare & Co. (1672, UK)
Barclays (1690, UK)
The world’s first bank is often considered to be Banca Monte dei Paschi di Siena, founded in 1472 in Italy. However, earlier banking systems existed in ancient Babylon, Egypt, and Greece.
The oldest bank in India is the State Bank of India (SBI). It was originally established as the Bank of Calcutta in 1806, later renamed the Bank of Bengal, and eventually became SBI in 1955.
The world’s oldest private bank is Berenberg Bank, founded in 1590 in Hamburg, Germany. It is still family-owned and specializes in wealth management.
The oldest bank in the world still in operation is Banca Monte dei Paschi di Siena, founded in 1472 in Italy.
The first modern bank was in Italy, with Banca Monte dei Paschi di Siena (1472) being the oldest still operating. However, banking systems existed in ancient Mesopotamia, Greece, and Rome.
The oldest central bank in the world is Sveriges Riksbank, founded in 1668 in Sweden. It was the first to manage a country’s monetary policy.
The World Bank is controlled by 189 member countries, with the United States holding the largest voting power. It is led by a President, traditionally nominated by the U.S. government.
To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
Follow Us on Social Media
