Category: About banks

The history of modern finance is built on centuries of continuous trade, prudent wealth management, and absolute trust. At the very foundation of this system lie institutions like Banca Monte dei Paschi di Siena (1472) and Berenberg Bank (1590), with roots that antedate the Age of Enlightenment. The 20th century was an era of unprecedented financial upheaval, marked by the two World Wars, economic downturns, nationalizations, and widespread consolidation. To have survived this upheaval and to continue operating today in some form is testimony to remarkable longevity, prudent management, and the power of brand name. This roll challenges the world's oldest merchant and private banks (dating from 1472 up to 1914) not merely to have survived the First and Second World Wars but also to have continued with their original…

What is a credit union? A credit union is an organization that brings together a certain number of people and unites them into one community which aims to bring together their savings. The aim of such an organization is that savings and borrow from each other, and thus primarily to help members of the credit union works accomplished certain goals. The objectives may be different, in order to purchase real estate, the creation of small and medium enterprises, and so on. Credit unions are non-profit organizations of their greatest distribution in the United States with total assets of over 100 billion dollars. As we said a source of funds from credit union members deposit. Placement of funds is geared towards short-term consumer loans, Credit Union also perform other services in…

European Investment bank After the European Central Bank, European Investment Bank is the second most important financial institutions of the European Community. The European Investment Bank was established in the Treaty of Rome establishing the European Economic Community (Article 29 and 30) in 1957. Each country entering the European Union must fulfill the obligations of payment of the founding capital of the European Investment Bank. This bank is a legal entity, is headquartered in Luxembourg and is independent in its work. The Bank manages its own statutory bodies, namely: Board of Governors, Board of Directors, Management Committee and Audit Committee. Each member state has its representative in the Council of Governors, which is ministerial. Usually they are the ministers of finance, economics or persons responsible for the Treasury. The Board of…

World bank group was formed in July 1944, Headquarters in Washington DC United States The purpose of the World Bank is crediting. The priority of the World Bank is to reduce poverty through economic and humanitarian help. The World Bank is an international financial institution that is financed with the help of its credit the development of other countries. Specifically financed the infrastructure (roads, bridges, tunnels, water supply, power supply as well as systems for production of electricity, telecommunications etc. We can accent that her role Foremost, aimed at improving living standards. World Bank consists of two institutions: International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA). It is composed of 188 member states. These member countries, or shareholders, are represented by a Board of Governors, who are the ultimate policymakers at…

Beobank One of the largest banks in Serbia, now under bankruptcy has higher receivables than debts. One of the largest banks in Serbia is bankrupt. Why? Researching we get to the information that the bank was one of the largest banks in Southeast Europe. With around 6,000 employees, the bank is owned 140 branches which are unfortunately sold for about 25 million euros. The bankruptcy procedure is still ongoing and as we found out it would not be completed. An interesting fact is that this bank at the end of the nineties had around 1.6 billion German marks deposits. This sum of money was the savings that the state nineties declared the old foreign currency savings. After the proclamation of the old foreign currency savings, bank's management decision to savings returns population. After this…

Monte Dei Paschi Di Siena is the oldest bank in the world headquartered in Siena (Italy). It was founded in 1472 in the Republic of Siena, where it currently operate. Tradition, Culture, Knowledge have made this bank very well-known in the world. Monte Dei Paschi known in Italy as "Il Monte" is a leader in banking in Italy, the Bank is a member of the MPS Group. The Bank operates with more than 1,900 branches throughout Italy, which constitute the main economic and financial center in Italy and in the world. It has a collection of historical documents priceless values, and this collection consists of all the documents from the very beginning of its operations. We found out that these documents are not available to the public. Also the headquarters…

The European Central Bank Was established 1 June 1998 and located in Frankfurt (Germany) The European bank is the body with the help of which the European Union has implemented its tasks outlined founding Treaty of Rome on the implementation of policies in the field of monetary relations. The European Central Bank is independent in its work and has the status of a legal entity. The European Central Bank is composed of the role of national central banks of the member states determined on the basis of gross national product and population of the member states. The biggest part of the role of more than 2/3 provide central banks of the European System of Central Banks, to a lesser extent the national central banks of the Member States of the…