| Banks and bank services have existed throughout | | | | loans allowed business to flourish as overseas trade |
| history; it is believed they predate currency and | | | | became a mainstay of any nation's economy. Italian |
| traces of bank records are estimated to have been | | | | bankers spread throughout Europe and appeared in |
| present in the third millennium B.C. In the ancient | | | | many European cities. Although problems did arise |
| world they held grain, cattle and precious metals such | | | | when defaulted payments by monarchs caused the |
| as gold and are believed to have carried out their | | | | bank services to become political issues. |
| business in temples and palaces as these were the | | | | During the beginning of the modern period the |
| safest places to contain wealth. | | | | business bank relationship was further enhanced. |
| The business bank relationship is believed to have | | | | Expeditions to the new world were funded by banks |
| begun in ancient Babylon where temple priests | | | | in Spain and Portugal; such journeys became |
| granted loans to merchants. It is believed that the | | | | profitable for the bank tellers as the returns became |
| first laws in society contained rules for banking and a | | | | vast after the initial outlay. In Britain, new trade |
| bank code of conduct. Showing the extent at which | | | | businesses used banks to fund their activities in the |
| banks and society are intertwined. | | | | new world with tobacco and coffee imports from |
| Ancient Greece took banking further by creating a | | | | the Indies being extremely profitable. |
| centralised grain bank network and created credit | | | | Bank services and loans were the backbone of the |
| slips for customers. These slips were used in business | | | | industrial revolution in Britain. Without the funding that |
| and consisted of instructions to bank tellers to | | | | supported the entrepreneurs the improvements to |
| perform deposits and withdrawals. This can be seen | | | | the transport network and creation of evermore |
| as a strengthening of the business bank relationship. | | | | complex steam engines would not have been |
| The Roman Empire perfected banking; being | | | | possible. It is thanks to the banking that Britain |
| obsessed with administration, banks took a more | | | | became the richest nation in the world, the empire |
| recognisable form as increasing amounts of | | | | was dependent upon loans and the reason it |
| paperwork were involved in transactions. Detailed | | | | expanded to such a huge extent was the desire to |
| bank regulations and laws were also created to | | | | repay these sums of money. |
| define the industry. The Romans also created the | | | | In the modern world global bank services have |
| first bank charges in the form of interest. The | | | | shrunk the world. Transfers are now instantaneous |
| business however experienced a downturn with the | | | | and banks fund vast projects on a worldwide basis. |
| rise of Christianity as interest charges were seen as | | | | The profits they gain break records on a regular |
| immoral; subsequently bank services dwindled in | | | | basis, figures of twenty and thirty billion are not |
| Western Europe until the time of the crusades. | | | | uncommon for the world's largest banks. These sums |
| The medieval period saw a revival for the business | | | | make some banks wealthier than nations and |
| bank relationship. Trade fairs present in most major | | | | subsequently the favour they hold in politics and |
| European cities began to create bills of exchange | | | | business is seemingly unassailable. |
| where notes were given in exchange for hard | | | | Bank services have provided financial support for the |
| currency. These bills were redeemable at other cities | | | | business world since the beginnings of civilisation; |
| and hence eliminated the necessity to carry huge | | | | today they hold a position of power as entrenched |
| fortunes across country; forming a far safer option | | | | as many political systems. In many cases bank |
| for merchants. This need for the transfer of large | | | | services have been fundamental in the formation of |
| sums of money was a direct result of the crusades | | | | nations and political systems and have funded the |
| and as the banks redeemed the bills in line with | | | | exploration and empire building that has created the |
| exchange rates and inflation, bank services started to | | | | world we see today. The close business bank |
| become profitable. | | | | relationship is profitable for both sides, as long as |
| Throughout the later medieval period the Italian | | | | banks are willing to fund entrepreneurial schemes the |
| bankers of Lombardy and Genoa became the | | | | relationship is set to continue indefinitely. |
| financial powerhouses of the Mediterranean. Their | | | | |