The first formal bank was established in 1171, and afterward, banks began to appear across various European countries. Of course, these banks were privately owned and primarily engaged in deposit and lending services, often involving usurious practices.

In the capital of the Iberian Empire, there were several similar usurious banks, among which the most famous and well-backed was the Iberian Royal Bank, founded jointly by the royal family and the church. It was the oldest, most reputable bank, having existed since the early days of the empire, and had operated for nearly a century without any issues. Nobles and merchants alike preferred to conduct business with this bank.

Naturally, they...