Identity area
Type of entity
Authorized form of name
Parallel form(s) of name
Standardized form(s) of name according to other rules
Other form(s) of name
Identifiers for corporate bodies
Description area
Dates of existence
History
The Chartered Bank of India, Australia and China, known from 1956 as The Chartered Bank, was established by Royal Charter in 1853. It was an overseas exchange bank, based in and controlled from the City of London. It was established to take advantage of the end of the East India Company's monopoly in 1853.
The bank operated in India and throughout the Far East - in China, Hong Kong, Vietnam, Cambodia, Siam [Thailand], Burma [Myanmar], Singapore, Malacca, Penang and the Malay States, the Philippines, Japan, Java, Sumatra, Ceylon [Sri Lanka], North Borneo, Brunei, Sarawak, Pakistan and East Pakistan. There were also branches in New York [United States of America] and Hamburg [Germany]. Despite its name, the bank never operated in Australia.
Further UK branches opened in Manchester (1937) and Liverpool (1948). The bank gained a second London office and additional branches in India, Pakistan, China and Ceylon with the takeover in 1938 of the P and O. Banking Corporation.
The bank's activities in the Far East were severely disrupted by World War Two and nationalist post-war governments in the region. The takeover in 1957 of rival Eastern Bank presented new opportunities. Eastern Bank was active in Chartered Bank's traditional areas of operation, but also had branches in the Middle East - in Iraq, Bahrain, Yemen, Lebanon, Qatar, Sharjah, Abu Dhabi, Dubai and Oman. In the same year, Chartered Bank purchased the Ionian Bank's interests in Cyprus.
The bank operated from various City of London addresses: 1852 first two meetings of directors at 8 Austin Friars; November 1852 offices acquired at 21 Moorgate. December 1853 - 1855 rented offices at South Sea House, Threadneedle Street. 1855 rented offices at 34 Gresham House, Old Broad Street. June 1857 - 1866 rented offices in the City Bank building at Threadneedle Street. 1867 Former Hatton Court building on Threadneedle Street. In 1909 they moved into newly built premises on the former site of Crosby Hall where they were still at the time of the merger with Chartered Bank in 1969.
For further information on the history of the bank see Sir Compton Mackenzie, Realms of silver: one hundred years of banking in the East (London, 1954) and Geoffrey Jones, British multinational banking 1830-1990 (Oxford, 1993).
Oversight of the accounting and financial functions of the bank was managed by the Chief Accountant (known as 'Accountant and Registrar' (to 1875) then 'Accountant' (to 1904) then 'Chief Accountant' (1905 onwards). He was part of the Bank's senior-level staff and was based at Head Office.
Until 1909 the Chartered Bank was not authorised to act as a general banking business in London, therefore cash for Head Office customer accounts had to be obtained from the City Bank and any monies had to be paid in there also.
The Secretary also kept close contacts with the Chief Accountant's office and many reports and letters actioned by the Chief Accountant and his staff were copy-letters addressed to the Secretary.
The Chief Accountant's office also managed/was closely involved with various other departments-
*The Inspection Department: (created in 1906 and headed by the Chief Accountant)
*The Bullion Department: This was in existence by 1908
*The Taxation and Statistics Department: This was in existence by the 1930s/40s and appears to have fallen within the Chief Accountant's remit. In 1953 the Bank published a brief history using statistics prepared by Mr J English of the Taxation and Statistics Department. Mr English later became Chief Accountant.
*The Secretary's Department, especially regarding the acquisition/merger and ongoing management of the various banks acquired by Chartered Bank (including P and O Banking Corporation, Eastern Bank and Allahabad Bank).