Chartered Bank of India, Australia and China

The Chartered Bank of India, Australia and China (informally The Chartered Bank) was a bank incorporated in London in 1853 by Scotsman James Wilson, under a Royal Charter from Queen Victoria.

Though lacking a truly strong domestic network in Britain, it was influential in the development of British colonial trade throughout the East of Suez.

In 1969 Chartered Bank merged with Standard Bank, which did business throughout Africa. The merged enterprise was incorporated in London under the name Standard Chartered.

History

Early years : 1853 to 1900

The Chartered Bank of India, Australia and China - a bank incorporated in London, was founded in 1853 in Karachi (now in Pakistan) by James Wilson; following the grant of a Royal Charter from Queen Victoria.

In 1858, it opened its first branches in Calcutta, Bombay and Shanghai. The bank's operations were expanded to Hong Kong and Singapore in 1859, followed by Karachi in 1863. Chartered bank was keen to capitalise on the huge expansion of trade between India and China and other British possessions in Asia; and the handsome profits that could be made from financing the movement of goods from Europe to Far East. It competed with the other great British banks of that time - Oriental Bank Corporation, the Hongkong & Shanghai Bank and Mercantile Bank of India, London and China.