Bank for International Settlements
A bank is a financial institution that accepts deposits from the public and creates credit. Lending . Banco de Venezuela in Coro. Banks lend money by making advances to customers on current accounts, by making Relationship manager, mostly for private banking or business banking, who visits customers at their. According to Finnish law, banks are required to comply with the customer due Before establishing a banking relationship, the bank must verify the potential. CRM or Customer Relationship Management is a strategy for managing an organisation's relationships and interactions with customers and potential customers.
The concept of banking may have begun in ancient Assyria and Babyloniawith merchants offering loans of grain as collateral within a barter system. Lenders in ancient Greece and during the Roman Empire added two important innovations: Archaeology from this period in ancient China and India also shows evidence of money lending.Bankers customers relation Part 1 JAIIB Paper 1 Module B by kamal 03112018
More modern banking can be traced to medieval and early Renaissance Italyto the rich cities in the centre and north like FlorenceLuccaSienaVenice and Genoa. The Bardi and Peruzzi families dominated banking in 14th-century Florence, establishing branches in many other parts of Europe.
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Georgewas founded in at GenoaItaly. Merchants started to store their gold with the goldsmiths of Londonwho possessed private vaults, and charged a fee for that service.
In exchange for each deposit of precious metal, the goldsmiths issued receipts certifying the quantity and purity of the metal they held as a bailee ; these receipts could not be assigned, only the original depositor could collect the stored goods. Gradually the goldsmiths began to lend the money out on behalf of the depositorwhich led to the development of modern banking practices; promissory notes which evolved into banknotes were issued for money deposited as a loan to the goldsmith.
Since the promissory notes were payable on demand, and the advances loans to the goldsmith's customers were repayable over a longer time period, this was an early form of fractional reserve banking.
- Customer-relationship management
- Deutsche Bank in India
- Bank of America
The promissory notes developed into an assignable instrument which could circulate as a safe and convenient form of money backed by the goldsmith's promise to pay,  allowing goldsmiths to advance loans with little risk of default. The Bank of England was the first to begin the permanent issue of banknotesin The Rothschilds pioneered international finance on a large scale, financing the purchase of the Suez canal for the British government.
A BC one-third stater electrum coin from Lydiawhere gold and silver coins were used for the first time Etymology[ edit ] The word bank was borrowed in Middle English from Middle French banque, from Old Italian banco, meaning "table", from Old High German banc, bank "bench, counter".
Benches were used as makeshift desks or exchange counters during the Renaissance by Jewish  Florentine bankers, who used to make their transactions atop desks covered by green tablecloths.
See the relevant country pages under for more information. In most common law jurisdictions there is a Bills of Exchange Act that codifies the law in relation to negotiable instrumentsincluding chequesand this Act contains a statutory definition of the term banker: Although this definition seems circular, it is actually functional, because it ensures that the legal basis for bank transactions such as cheques does not depend on how the bank is structured or regulated.
The crisis was, in terms of its political impact, the most disastrous economic event of the century. The shortage of liquidity that paralyzed the banks was fuelled by a combination of short-term foreign debt and borrowers no longer able to pay their debts, while the inflexibility of the state exacerbated the situation.
For German banks, the crisis in the industry was a watershed.
A return to circumstances that might in some ways have been considered reminiscent of the "golden age" before World War I was ruled out for many years. In subsequent years, Deutsche Bank took part in the aryanization of Jewish-owned businesses; according to its own historians, the bank was involved in such confiscations by November Deutsche Bank provided banking facilities for the Gestapo and loaned the funds used to build the Auschwitz camp and the nearby IG Farben facilities.
It also maintained a branch in IstanbulTurkey. InDeutsche Bank confirmed officially that it had been involved in Auschwitz. These 10 regional banks were later consolidated into three major banks in Inthe bank entered retail banking by introducing small personal loans.
In the s, the bank pushed ahead with international expansion, opening new offices in new locations, such as MilanMoscow, London, Paris and Tokyo. By the mids, the buildup of a capital-markets operation had got under way with the arrival of a number of high-profile figures from major competitors.
This series of acquisitions was closely aligned with the bank's strategy of bolt-on acquisitions in preference to so-called "transformational" mergers. The company's headquarters, the Deutsche Bank Twin Towers building, was extensively renovated beginning in The renovation took approximately three years to complete.
The bank developed, owned and operated the Cosmopolitan of Las Vegasafter the project's original developer defaulted on its borrowings.
Deutsche Bank opened the casino in and ran it at a loss until its sale in May It concluded that even as the market was collapsing inand its top global CDO trader was deriding the CDO market and betting against some of the mortgage bonds in its CDOs, Deutsche bank continued to churn out bad CDO products to investors. It also put in some mortgage bonds that its own mortgage department had created but could not sell, from the DBALT series.
The CDO was then aggressively marketed as a good product, with most of it being described as having A level ratings.
By the entire CDO was almost worthless and the investors including Deutsche Bank itself had lost most of their money. He was one of the first traders to foresee the bubble in the CDO market as well as the tremendous potential that CDS offered in this. As regards the Gemstone VII deal, even as Deutsche was creating and selling it to investors, Lippman emailed colleagues that it 'blew', and he called parts of it 'crap' and 'pigs' and advised some of his clients to bet against the mortgage securities it was made of.
Lippman called the CDO market a 'ponzi scheme', but also tried to conceal some of his views from certain other parties because the bank was trying to sell the products he was calling 'crap'. Lippman's group made money off of these bets, even as Deutsche overall lost money on the CDO market.