History of Savings bank in Timeline

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Savings bank

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.

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1913: Government Savings Bank Established

The Government Savings Bank in Thailand was established in 1913.

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1914: Disputed Origins

In 1914, the New Student's Reference Work acknowledged that the origins of savings banks were a subject of debate.

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1918: Caisse d'Épargne de Madagascar Established

The Caisse d'Épargne de Madagascar was established in 1918.

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1924: World Savings Banks Institute Founded

The World Savings Banks Institute (WSBI) was founded in Milan in 1924.

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1931: European Banking Crisis

The European banking crisis of 1931 had a relatively smaller impact on savings banks compared to commercial banks.

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1949: WSBI Relocates to Amsterdam

The World Savings Banks Institute (WSBI) relocated to Amsterdam in 1949.

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1963: European Savings Banks Group Established

The European Savings Banks Group was established in 1963.

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1969: WSBI Moves to Geneva

The World Savings Banks Institute (WSBI) moved to Geneva in 1969.

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1971: National Savings Bank Established

The National Savings Bank in Sri Lanka was established in 1971.

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1994: WSBI Settles in Brussels

The World Savings Banks Institute (WSBI) established its presence in Brussels in 1994.

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1999: People's Own Savings Bank Renamed

The People's Own Savings Bank in Zimbabwe was renamed in 1999.

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2007: Postal Savings Bank of China Established

The Postal Savings Bank of China was established in 2007.

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