Both modern and traditional banks were established to fulfill the financial needs of individuals and businesses. These financial institutions operate as profit-oriented entities and greatly profit from the services they provide. Along with various fees and ongoing charges, banks also impose interest on loans. The interest rate can vary depending on factors such as the individual/bank, credit history, and the specific financial institution. As a result, banks can generate significant profits from their offerings. Currently, the Industrial and Commercial Bank of China Limited holds the title of the world’s largest bank, boasting an impressive $5.5 trillion in assets. The team at Wergsconsultancy has put together a history of the 10 oldest banks in the world.
