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Chartered Mercantile Bank of India, London and China |
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Founded: |
Singapore: 12 Sept. 1855 |
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Ceased: |
1893 |
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Updated: 9 July 2007
Notes:
This bank was founded out of the Mercantile Bank of Bombay in 1854. It was incorporated in Bombay and received its charter on 1 July 1858. [A02] [M02p56][G05p8] In 1893, it relinquished its charter and became the Mercantile Bank of India. [M02p75]
Chartered Mercantile Bank of India, London and China became the Mercantile Bank and became a wholly owned subsidiary of the HSBC in 1959. [K03p352]
Often refered to simply as the Mercantile Bank.
Singapore:
A branch opened in Singapore on 12 September 1855 by Mr. Walter Ormiston as Manager. [B05p624]
In 1864 the Chartered Mercantile Bank of India, London, and China was on e of four banks located in the Square in what was called Almeida's Buildings, at the centre of the south end of the Square, where Dr. Jose d' Almeida's offices at one time stood, and where the Mercantile Bank of India now stands [1902]; it was always spoken of as the Mercantile Bank, and Mr. James Davidson was Manager at this time; he left the Bank inconsequence of its being heavily involved in the failure of the European firms and became a broker, the beginning of them in Singapore. The brokerage for a short time, till competition speedily set up, was one quarter per cent each way! [B05p711]
Penang: Was established in Penang in 1859 [A02] [K03p352]
Bangkok: Represented in Bangkok by a commercial firm in 1880 [M02p195]
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