The Romanian Savings Bank was established due to the efforts of the political and economical elites from Alexandru Ioan Cuza’s reign for putting in order the public finances of the new Romanian state resulted through the Union of the Romanian Principalities, in 1859.
By signing the founding act of the Romanian Deposit Bank 140 years ago, Alexandru Ioan Cuza set up the oldest credit institution in the Romanian banking history.
In 1881, the Romanian Savings Bank was founded as an annex to the Romanian Deposits Bank, with the main activity “to provoke, to maintain and to collect even the most insignificant savings of the working classes”. In 1897, was laid the corner-stone of the future Palace of the Romanian Savings Bank, inaugurated at the beginning of the year 1900.
In 1930, as a result of the new conditions, the social and economical evolutions, the union of all Romanian people and the great depression, the Savings Bank became the General Savings Bank and since 1948, its name has been changed into the Romanian Savings Bank.
Having a good reputation among people, shown by the constant rise of savings, the Romanian Savings Bank remained on the financial market even in the communist regime, when it was the only savings bank in Romania.
Managed by financial and banking experts and having a well-prepared personnel, the institution has an important role in modern and contemporary Romanian history, being present at the major economical and social events, contributing to the development of the financial and banking system.
To celebrate this anniversary, Romfilatelia, the specialized company in issuing and trading postage stamps and philatelic items in Romania, put into circulation an issue comprising one definitive postage stamp which reproduces the image of the Romanian Savings Bank Palace.
