[1]

CHARTERED BANK OF INDIA, AUSTRALIA, AND CHINA.
The Chartered Bank of India, Australia, and China, which has its head offices in London, and branches and agencies all over the world, was incorporated, under Royal Charter, in 1853. It has a paid-up capital of £1,200,000. and a reserve fund of £1,475,000, while the reserve liability of the shareholders amounts to £1,200,000. Every description of exchange and banking business is transacted, and drafts are granted upon any commercial centre of reasonable importance. The Shanghai branch of the bank was opened in 1857. the premises being situated, in the first instance, in Mackley Terrace near Szechuen Road, immediately behind the Shanghai Club. The present offices on the Bund were purchased from the New Oriental Bank in 1892. The first manager in Shanghai was Mr. Kellar ; to-day the business is conducted under the supervision of Mr. Skottowe. who was born in the Isle of Man. and obtained general banking experience with the City of Glasgow Bank in Douglas. He came to the East in 1882, and obtained his present position in 1891. Mr. Skottowe is a member of the Imperial Institute, and of all the local clubs. In his absence. Mr. George Miller assumes control of the bank's interests. The staff in Shanghai, which is the headquarters for China, numbers about forty. Agencies have been established in Hankow, Cheffoo, Newchwang, and Tsingtau.

Source: p 444 Wright, Arnold, : Twentieth Century Impressions of Hongkong, Shanghai, and Other Treaty Ports of China: Their History. People, Commerce, Industries, and Resources. London: Lloyd's Greater Britain Publishing Company, Ltd., 1908.

"Hong Kong’s oldest surviving bank. The Chartered Bank of India, Australia and China, which is the forerunner of the present-day Standard Chartered Bank, was incorporated in London and granted a royal charter in 1853 and began operation in 1857. Its Hong Kong Branch was set up in 1859 and issued its own notes on 1862. With the opening of the Suez Canal in 1869 and the extension of the telegraph to China in 1871, Chartered was well placed to expand and develop its business. During the second half of the 19th century, branches were opened in many centres in India and the Far East. It merged with the Standard Bank of South Africa in 1969, and became the Standard Chartered Bank Limited."

Frank

[2]

The subject of banking from that date {1845} onwards, for a period of nearly twenty years, is practically ignored by the records, though there are frequent references to the currency question. The issue of the prospectus of the Hongkong and Shanghai Banking Corporation in July, 1864, is the next mention, and, incidentally, Dr. Eitel alludes to the existence at that time of six banking institutions the Oriental Bank already referred to, the Agra and United Service Bank ; the Central Bank of Western India ; the Chartered Bank of India, Australia and China ; the Chartered Mercantile Bank of India, London, and China; and the Commercial Bank of India. This list does not appear to be a complete one, however, for some of the older inhabitants of the Colony well remember that there were also in operation the Comptoir National d'EscompTe de Paris ; the Bank of Hindustan, China, and Japan ; the Asiatic Bank ; and the Bank of India.

Source: p 116 Wright, Arnold, : Twentieth Century Impressions of Hongkong, Shanghai, and Other Treaty Ports of China: Their History. People, Commerce, Industries, and Resources. London: Lloyd's Greater Britain Publishing Company, Ltd., 1908.

[3]

Formerly Chartered Mercantile Bank of India, London, and China.

The subject of banking from that date {1845} onwards, for a period of nearly twenty years, is practically ignored by the records, though there are frequent references to the currency question. The issue of the prospectus of the Hongkong and Shanghai Banking Corporation in July, 1864, is the next mention, and, incidentally, Dr. Eitel alludes to the existence at that time of six banking institutions the Oriental Bank already referred to, the Agra and United Service Bank ; the Central Bank of Western India ; the Chartered Bank of India, Australia and China ; the Chartered Mercantile Bank of India, London, and China; and the Commercial Bank of India. This list does not appear to be a complete one, however, for some of the older inhabitants of the Colony well remember that there were also in operation the Comptoir National d'Escompte de Paris ; the Bank of Hindustan, China, and Japan ; the Asiatic Bank ; and the Bank of India.

Source: p 116 Wright, Arnold, : Twentieth Century Impressions of Hongkong, Shanghai, and Other Treaty Ports of China: Their History. People, Commerce, Industries, and Resources. London: Lloyd's Greater Britain Publishing Company, Ltd., 1908.

Mercantile Bank of India, Ltd.

1920 Licensed Mercantile Bank of India, Ltd..
1931 Closed

The Mercantile Bank of China may have been the local name used by the bank when it established its first branch office in Shanghai in 1854. This bank was founded out of the Mercantile Bank of Bombay in 1854. It was incorporated in Bombay and received its charter in 1 July 1858 and renamed the Chartered Mercantile Bank of India, London and China. In 1893, it relinquished its charter and became The Mercantile Bank of India, Limited. In 1958 it dropped “the India” from its name and became The Mercantile Bank Limited. It was acquired by the Hongkong and Shanghai Bank in 1959 and sold to Citibank in 1984. In 1987, the Mitsubishi Bank bought it.

FranK (October 2011)