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History of Banking

History of Banking

From Wikipedia, the free encyclopedia

The History of Banking begins with the first prototype banks of merchants in the ancient world, which made grain loans to farmers and traders who carried goods between cities. This began around 2000 BC in Assyria and Babylonia. Later, in ancient Greece and during the Roman Empire, lenders based in temples made loans and added two important innovations: they accepted deposits and changed money. Archaeology from this period in ancient China and India also shows evidence of money lending activity.

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Banking in Australia

From Wikipedia, the free encyclopedia

The banking sector in Australia consists of a number of banks licensed to carry on banking business under the Banking Act 1959, foreign banks licensed to operate through a branch in Australia, and Australian-incorporated foreign bank subsidiaries. The banking system is liquid, competitive and well developed. For the past 10 years ended in mid-2013, Commonwealth Bank got the first rank of Bloomberg Riskless Return Ranking with returned a risk-adjusted 18 percent. Westpac Bank set in fourth with 11 percent and ANZ Bank set in seventh with 8.7 percent.

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