Savings banks are financial institutions that prioritize collecting savings deposits and investing them conservatively for interest income, rather than maximizing profits. Historically, they have been a distinct category primarily in Europe.
1904: People's Own Savings Bank Established
The People's Own Savings Bank was established in Zimbabwe in 1904.
1914: Disputed Origins
In 1914, the New Student's Reference Work acknowledged that the origins of savings banks were a subject of debate.
1918: Caisse d'Épargne de Madagascar Established
The Caisse d'Épargne de Madagascar was established in 1918.
1924: World Savings Banks Institute Founded
The World Savings Banks Institute (WSBI) was founded in Milan in 1924.
1931: European Banking Crisis
The European banking crisis of 1931 had a relatively smaller impact on savings banks compared to commercial banks.
1949: WSBI Relocates to Amsterdam
The World Savings Banks Institute (WSBI) relocated to Amsterdam in 1949.
1963: European Savings Banks Group Established
The European Savings Banks Group was established in 1963.
1969: WSBI Moves to Geneva
The World Savings Banks Institute (WSBI) moved to Geneva in 1969.
1994: WSBI Settles in Brussels
The World Savings Banks Institute (WSBI) established its presence in Brussels in 1994.
1999: People's Own Savings Bank Renamed
The People's Own Savings Bank in Zimbabwe was renamed in 1999.
2007: Postal Savings Bank of China Established
Mentioned in this timeline
China officially the People's Republic of China PRC is located...
A bank is a regulated financial institution licensed to accept...
Thailand formerly known as Siam is a Southeast Asian country...
Sri Lanka an island nation in South Asia is located...
Madagascar is an island country in the Indian Ocean located...
Amsterdam the capital and largest city of the Netherlands boasts...
Trending
3 hours ago Daniel Radcliffe Hesitant to Watch New Harry Potter Series
3 hours ago CJ McCollum Joins NBA on Prime as New Player Contributor
3 hours ago Cher's Believe Revolutionized Music Production With Innovative Autotune Technology
3 hours ago Justine Lupe and Nobody Wants This Cast Discuss Future Season Plans
3 hours ago Darius Garland Emerges as Potential Trade Target for Phoenix Suns
3 hours ago Sandro Mamukelashvili Outshines Rui Hachimura for the Lakers
Popular
Chuck Schumer is a prominent American politician serving as the...
Peter Brian Hegseth is an American government official and former...
Thomas Massie is a Republican politician and engineer representing Kentucky's...
Jim Jordan is a Republican politician representing Ohio's th congressional...
Bernie Sanders is a prominent American politician and the senior...
Johnny Depp is a highly successful American actor musician and...