In 1820, the first savings bank in Sweden opened. The 200-year development of the savings bank movement since then reflects both the country’s and the banking system’s development. We cover all this in a new film series, “The Savings Bank Idea Since 1820”, produced together with the Economy Museum of Sweden and today released on YouTube.
In October 1820, the Gothenburg Savings Bank, opened. Six months later, 16 June 1821, it was followed by a savings bank in Stockholm. The country was soon filled with savings banks. They allowed regular people deposit and withdraw any amount, earn interest and take out loans. Common place today, revolutionary then. And how the savings banks since then developed mirrors the development of the general banking system and of Sweden as a nation.
All this is covered in a new film series of six short episodes, which we at the Centre for Business History have produced with the Economy Museum. The film series was released today 16 June on the Economy Museum’s YouTube channel, on what would have been the 200th anniversary of the founding of Stockholm Savings Bank.