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Banking is seen as emblematic of Switzerland and the country has been one of the largest offshore financial centers and tax havens in the world since the mid-20th century, with a long history of banking secrecy and client confidentiality reaching back to the early 1700s.
Switzerland: 1850 Nationale Bank van België: Belgium Belgium: 1850 Bank Sparhafen Zürich: Switzerland Switzerland: 1850 Volksbank: Austrian Empire Austria: 1851 Bank of the Philippine Islands: Spanish Philippines Philippines: Oldest bank in Southeast Asia 1851 Essex Savings Bank: United States United States: 1852 PNC Bank: United States ...
Swiss Bank Corporation traces its history to 1854. In that year, six private banking firms in Basel, Switzerland, pooled their resources to form the Bankverein, a consortium that acted as an underwriting syndicate for its member banks.
The history of banking began with the first prototype banks, that is, the merchants of the world, ... as well as Hottinguer in Switzerland and Oppenheim in Germany. ...
The bank's legal name changed multiple times by incorporating the names of the senior personally liable partners. As of 2013, the bank's name was Wegelin & Co. Privatbankiers, Gesellschafter Bruderer, Hummler, Tolle & Co. [7] At the time of its closing, it was the oldest bank in Switzerland and the 13th oldest in the world.
In 1946, Switzerland and the Western allies signed the Washington Agreement in Washington, DC. Switzerland would pay 250 million Swiss francs towards the reconstruction of Europe post-war. In return, the Allies waived further claims against the Swiss National Bank, whose activities during the war, in particular the purchase of German looted ...
Union Bank of Switzerland (UBS) [a] was a Swiss investment bank and financial services company located in Switzerland. The bank, which at the time was the second largest bank in Switzerland, merged with Swiss Bank Corporation in 1998 to become UBS. This merger formed what was then the largest bank in Europe and the second largest bank in the world.
The Swiss National Bank (SNB; German: Schweizerische Nationalbank; French: Banque nationale suisse; Italian: Banca nazionale svizzera; Romansh: Banca naziunala svizra) is the central bank of Switzerland, responsible for the nation's monetary policy and the sole issuer of Swiss franc banknotes. The primary goal of its mandate is to ensure price ...