INTERNATIONAL BANKS DAY – history and major players in the financial system

International Banks Day was established by the United Nations (UN) in 2019 and is celebrated annually on December 4. The holiday aims to emphasize the contribution of banks to the global economy, social progress and sustainable growth. Read more about it in today’s Strifor review.

Reasons for creating the holiday

The UN highlights the important role of banks in the following areas:

• Supporting sustainable development goals: banks play a key role in financing projects aimed at fighting poverty, improving access to education and health care, and developing clean energy
• Building confidence in the banking system: recognizing its importance helps raise public awareness of financial literacy and the role of banks in the economy
• Focus on innovation and digitalization: banks are adapting to the new challenges of technological change and globalization and are driving the development of financial technology
• Recognizing the role of regional and national banks: particularly important for countries where the banking system is a driving force for infrastructure and economic growth

Banks as drivers of the global economy

Banks are the heart of the global financial system. They provide:

• Access to capital for businesses and individual customers.
• The development of international trade through the facilitation of foreign exchange transactions.
• Financing global projects such as infrastructure initiatives and investments in green technology.

The largest banks in the world

The banks whose CFDs are traded with our broker stand out in the international arena:

• Bank of America

One of the largest banks in the USA. It specializes in retail banking, lending, investments and asset management. Bank of America actively develops digital products, offering its clients modern financial instruments.

• Citigroup

An international financial conglomerate operating in more than 160 countries. Citi is known for its network of banking services and global reach, making it a key player in investment and commercial banking

• Goldman Sachs

An investment giant with a focus on asset management, investment banking and trading. Goldman Sachs is actively involved in financing startups and technology companies

• JP Morgan Chase

The largest U.S. bank with global recognition. Main focus – investment banking, asset management and retail banking services

• American Express

Known for its premium credit cards and financial services for affluent customers

• BNP Paribas SA

One of the largest banks in France, actively developing international presence, especially in Europe and Asia.

• Deutsche Bank AG

Germany’s largest bank with a focus on investment banking and asset management

• Commerzbank AG

Germany’s second-largest bank, focusing on corporate banking and servicing small and medium-sized businesses

• Banco Santander

Financial industry leader in Spain and Latin America. Santander actively develops digital banking services

• Société Générale

One of the oldest banks in France, providing a wide range of services, including investment and retail banking.

Interesting facts about banks

• The first banks appeared in Ancient Babylon around 2000 BC
• The oldest active bank is Banca Monte dei Paschi di Siena (Italy), founded in 1472
• Chinese banks rank first in terms of assets in the world
• Islamic banks operating without interest are growing faster than traditional financial institutions
• Large banks are actively adopting blockchain technology to optimize operations

To summarize

International Banking Day is a reminder of the importance of the banking system for the development of the economy and society. Despite the challenges, major financial institutions continue to adapt to changing conditions and invest in the future. Strifor broker provides an opportunity to trade CFDs on shares of global banking giants, as well as on large companies from other industries on competitive terms. Join Strifor, we always pay.

Attention! An investment in CFDs carries the high risk of losing all investment funds.  87% of retail investor accounts lose money when trading CFDs with this provider. Past investment success does not mean future success