Founded by James Wilson upon receiving its charter on 29 December1853. [m02p20] [W01p118] At that time only branches could issue notes. All its other establishments were called agencies except for its head office. [m02p21-2] Its aim was to provide banking India, Australia and China. It expanded rapidly throughout India and the Far East except during the 1930's depression and WWII. In 1957 it acquired The Eastern Bank thus extending its operations into the Middle East.

Often referred to simply as the Chartered Bank of India or the Chartered Bank.

In 1858, it opened branches in Bombay (now Mumbai), Calcutta and Shanghai

In 1859, it opened branches in Hong Kong and Singapore.

The Chartered Bank of India, Australia and China was established in Singapore on 19th February 1859, and filled the blank caused by the withdrawal of the North Western Bank. Mr. James Fraser, of Maclaine Fraser & Co., was on the Board of Directors in London, and several of the most influential of the retired Singapore merchants were connected with it. Mr. David Duff was the first Manager, then called Agent, in Singapore.

The traditional business in the various cities was:

• cotton in Bombay (Mumbai)
• indigo and tea in Calcutta
• rice in Burma
• sugar in Java
• tobacco in Sumatra
• hemp in Manila
• silk in Yokohama

Once that the Suez Canal opened in 1869 and the telegraph reached China in 1871, the bank played an important role in the development of trade with the East.

Singapore: Established an agency at Singapore on 19 February 1859 [m02p104]. Under the Bank’s charter, the Singapore agency could exchange, deposit and remit to its other establishment. On 20 July 1861, the Bank obtained a supplemental charter under which it was allowed to convert the Singapore agency into a branch and to issue bank-notes in the Strait Settlements. [M02p104-7] By 1880 they were the most popular bank in Singapore. [M02p109]

In 1864 the Chartered Bank of India, Australia, and China was was one of four banks located in the Square. It was located at the north corner of the Square and Prince Street, of which Robert Duff was the first Manager, and Charles Smith Sherwood was Manager in this year, and Mr. James Greig was Accountant. This was always known as the Chartered Bank, to distinguish it from the Mercantile. [B05p711]

Penang: From the early 1860’s the Bank had been represented at Penang by Fraser & Co. [M02p110] It opened its branch at Penang in 1875. [M02p104-7][A02]

Selangor: ?

Malacca: ?

Taiping: (1888) [M02p115]

Kuala Lumpur (1888). [M02p115]

Perak: In 1889, a branch was opened at the headquarters of the Perak Government. [S01p252]

Bangkok: Their agent in Bangkok was the German firm of A. Markwald & Co. who they appointed in the 1860’s. They were rice exporters [m02p195]

In 1969, The Chartered Bank of India, Australia and China and the Standard Bank of British South Africa merged to form the Standard Chartered Group.

Click to see the References

On the web:

• Wikipedia article

• Standard Chartered Group – History