Banking

BANKING

The name bank derives from the Italian word “banco” – desk/bench, used during the Renaissance by Florentines bankers, who used to make their transactions above a desk covered by a green tablecloth.
Banks have influenced economies and politics for centuries. Historically, the primary purpose of a bank was to provide loans to trading companies. A bank is a business which provides financial services for profit. Banks provided funds to allow businesses to purchase inventory, and collected those funds back with interest when the goods were sold. For centuries, the banking industry only dealt with businesses, not consumers. Commercial lending today is a very intense activity. Banking services have expanded to include services directed at individuals.