Diary of a BANKER-Part 29
During the 454 BC., Athens received the “Delian Leagues’s treasury” (where the Delian League was founded in the 478 BC. It was an association of Greek city-states, under the leadership of Athens. Their purpose was to keep fighting the Persian Empire after the Greek victory in the Battle of “PLATAEA”.
In the 3rd and 2nd century BC. In “Delos” (one of the most important mythological, historical and archaeological sites in Greece) the Aegean island became a notable banking center.
So it’s said to be during the 2nd century there were three banks and one temple for deposits within the city, and about 35 cities included private banks.
Athens, Corinth and Patrasthe were the main three settlements of the Greco-Roman world that declared wealth.
Back to the Classical Era there were many loans that are recorded showing a 12% annual interest rate with only a small proportion was provided by banks, most of these transactions were made in Athens.
In some cases, banks granted loans secretly, in other words they provided money without being publicly known to have done so, plus they acted as intermediaries to people who lend their own money without being known to others.
Aside from all of that in the 433-427 BC. Temple of Athens granted loan to the state.
To be continued with Diary of a BANKER Part- 30
The text published in this post is my original work with a help from History of banks.
Some images are from different sources click on the link below the image to view the source.
**Kindly don’t forget to check the old parts from “Diary of a Banker” for entertainment and more information.
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