The Roman Republic did not have centralised banking, but it did have rich individuals who would act as moneylenders. This is because the Roman economy was based on bartering and not on money. There was no need for banks as there was no money to lend or borrow. However, these moneylenders would often lend money to people in need, and they would charge interest on the loans. This meant that the rich became richer and the poor became poorer.
Banking first began to develop in the city of Rome during the reign of the emperor Augustus. Augustus introduced a new coinage system which made it easier to trade using money. This made banking more necessary, as people now needed somewhere to store their money. The first Roman banks were run by the temple priests, who would accept deposits and make loans. However, these banks were not very reliable, and many people lost their money.
During the reign of the emperor Nero, a new type of bank was established, called the argentarii. These banks were run by private individuals, and they were much more reliable than the temple banks. The argentarii would often lend money to the emperor himself, and they became very wealthy.
During the reign of the emperor Constantine, Christianity became the official religion of the Roman Empire. This led to the closure of the temple banks, as they were seen as pagan. However, the argentarii continued to flourish, and they became even more powerful.
The argentarii were finally abolished in the 6th century, when the emperor Justinian introduced a new banking system. This system was based on the Byzantine Empire, and it used a different currency. However, the argentarii continued to exist in some form, and they continued to lend money to the nobility.
Banking in Rome finally came to an end in the 13th century, when the emperor Frederick II abolished the argentarii. This was because they were seen as a threat to the power of the nobility. Banking would not return to Rome until the 16th century, when the first modern banks were established.