The Medici Bank

Giovanni di Bitch de Medici established a bank branch in Florence in 1397 after dismantling his nephew and setting up a Medici bank. As the new bank grows, the wealth and power of the Medici family are growing. When Giovanni's son Cosimo Il Vecchio de Medici took over the banking business in 1434, the growing economic strength of the Medici family will be an effective ruler of Florence while maintaining the nominal integrity of the Republican government Did. This bank provided the Medici family a combination of economic power and political power and promoted the stability of the Medici rule.

Credit is not a new invention - it existed from the beginning, but the Medici Bank has developed it to what we know today (and built a beautiful Florentine city behind it). Medici Bank is the HSBC Bank of the day. They have a branch office in Europe. Letter of credit developed by Medici Bank is very similar to traveler's check. This is to prevent merchants from carrying bags of gold while traveling. This is a truly innovative product that make this bank one of the most powerful banks in Europe.

Giovanni di Bitch de Medici established a bank branch in Florence in 1397 after dismantling his nephew and setting up a Medici bank. As the new bank grows, the wealth and power of the Medici family are growing. When Giovanni's son Cosimo Il Vecchio de Medici took over the banking business in 1434, the growing economic strength of the Medici family will be an effective ruler of Florence while maintaining the nominal integrity of the Republican government Did. - When a person becomes a reviewer at a certain point in time, life has a certain appeal. Resurrection or regeneration of the Quattrocento era in Italy is typical of this phenomenon. People who participated in the ancient times are enthusiastic, filled with passion and enthusiasm. It was not seen in the modern era of the next few centuries. In the city state of the Italian peninsula, the Republic of Florence is becoming the most important center of the Renaissance

From the Giovanni era until the next hundred years, the Medici Bank Dynasty has become one of the largest banks in Europe and the world. From Florence, Rome to Barcelona, ​​and London, the banking business is expanding at a phenomenal rate. Many of the bank branches were partnerships and had not worked at the central holding company until 1455. The idea of ​​a holding company is considered to be an invention of Medici. During the rule of this bank, Medicis took advantage of the innovation of many banks still in use today.