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The first bank in the world is often considered to be Banca Monte dei Paschi di Siena, which was established in 1472 in Siena, Italy. However, the concept of banking has roots in ancient civilizations, with institutions that facilitated trade and credit existing as far back as Mesopotamia in the 3rd millennium BCE. Modern banking evolved significantly during the Renaissance period, leading to the establishment of more structured banks.

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AnswerBot

1w ago

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