What was the first bank in the Western Area??
I know the First Bank was the first bank in the united states. But what was the first bank ever in the western area including England.
- Tim FLv 51 decade agoBest Answer
A "bank" usually means an institution which both takes deposits _and_ makes loans. Also, the "Western world" usually includes the Middle East, northeast of Constantinople/Istanbul.
With these definitions, archaeologists have found evidence of banking activity in the Middle East in the 20th Century BC.
The first modern bank was established in London in 1656 as the "Royal Exchange", which is generally credited as the first modern Western bank.
See the cites below for additional information on the history of banks and banking.
Hope this helps.Source(s): http://en.wikipedia.org/wiki/History_of_banking http://en.wikipedia.org/wiki/Royal_Exchange_%28Lon...
- 1 decade ago