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 II 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).
On its establishment, the bank advertised for, "a Manager and for staff for the London Office and the branches" in 'The Economist', paying £19.1.0 for the advertisement placed in February 1853. By October 1853, a sub-committee had been formed to examine the applications received and choose those whom they wished to ask to interview. By 1857, the bank was advertising in 'The Times' and other newspapers for Managers and Accountants to take up posts in branches to be opened in India and China.
The process which applicants wishing to join the bank had to go through included a strict vetting procedure for character references and a medical examination, particularly important for applicants wishing to work in posts abroad. General rules for conduct and bank procedures were produced for staff and for the branches they worked in, being distributed by the Inspection department.