Introduction to Banks

A bank is a financial institution that acts as a payment agent for customers, borrows and lends money. In some countries such as Germany, banks are the primary owners of industrial corporations while in other countries such as the United States banks are prohibited from owning non-financial companies.

History
The History of Banking begins with the first prototype banks of merchants in the ancient world. These merchants made grain loans to farmers and traders who carried goods between cities. This began around 2000 BC in Assyria and Babylonia. 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.

Types of Banks
There are various types of banks like: Commercial banks, Central Banks, Industrial Banks, Exchange Banks and Agricultural Banks.