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The Sächsische Bank zu Dresden (Bank of Saxony at Dresden) was founded with a state concession on 18 July 1865 and a capital of 5 million thalers. [1]: 4 In 1869 it settled its head office in the former Hôtel de Pologne, a historic building at Schloßstraße 7 in the center of Dresden, whose façade it remodeled to a design by architect Karl Eberhard []. [2]
The world's oldest central bank is the Sveriges Riksbank, which was founded in 1668. Banco di Napoli , which was absorbed by different entities between 2002–2018, had origins dating back to 1539, and until its absorption was likely the oldest bank worldwide in continuous operation; some scholars posit that its origins may be dated back to 1463.
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The Freedman's Saving and Trust Company, known as the Freedman's Savings Bank, was a private savings bank chartered by the U.S. Congress on March 3, 1865, to collect deposits from the newly emancipated communities. The bank opened 37 branches across 17 states and Washington DC within 7 years and collected funds from over 67,000 depositors. [1]
Commerce was founded by Francis Reid Long with $10,000 in capital in 1865, just as communities were rebuilding during post-Civil War Reconstruction. Originally known as the Kansas City Savings Association, it was acquired in 1881 by Dr. William Stone Woods and renamed the National Bank of Commerce, claiming at the time to be the largest bank west of Chicago. [5]
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened? On this day 324 years ago, the U.K. central bank, the Bank of England, was founded.
Its primary subsidiary was the Indianapolis-based Merchants National Bank and Trust Company, which had been founded in 1865. From the mid-1950s through the late 1980s, Merchants National Bank and Trust, American Fletcher National Bank , and Indiana National Bank , were the three largest banks in Indianapolis.
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