The Punjab Banking Company
TypePrivate sector
IndustryBanking, Insurance, Capital Markets and allied industries
Founded1 May 1889 (1889-05-01) as The Punjab Banking Company
FounderDavid Parkes Masson
Defunct31 March 1916 (1916-03-31)
Fatemerged with the Alliance Bank of Simla
SuccessorAlliance Bank of Simla
Headquarters
Lahore
,
India
Number of locations
Punjab province
Area served
India
ProductsDeposits, Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes, SME Banking Schemes
ServicesBanking, Trade Finance
ParentAlliance Bank of Simla

The Punjab Banking Company (1889) was a bank founded in the year 1889 in British India. The bank became defunct in the year 1916, when it was acquired by the Alliance Bank of Simla.[1]

History

Founding

The Punjab Banking Company was founded by Sir David Parkes Masson in the year 1889.[2]

The bank's customers were located in the Punjab province of British India.[3]

Management

The bank was staffed by mostly British nationals who were drawn mainly from the East India Company.[4]

The bank was headquartered in Lahore city in the Punjab province.[5]

Final years

The bank had branches in Abbottabad, Dalhousie, Ferozepore, Jullundar, Karachi, Cantonment [sic], Multan, Naushera (in the North-west Frontier province), Quetta, Peshawar, Sialkot, Simla, and Srinagar.[6][7]

In 1916, the bank was finally merged with the Alliance Bank of Simla.[8][9]

Legacy

The bank is notable for being one of the oldest banks in India.[10][11]

The bank is also notable for being one of the precursors of the State Bank of India, through its predecessor the Alliance Bank of Simla.[12][13][14]

See also

References

  1. ↑ "Brief History of Banking in India - GKToday".
  2. ↑ "U-M Weblogin" (PDF).
  3. ↑
  4. ↑ "Indian Columbus: The Banking Heritage Building of Madras". Indiancolumbus.blogspot.com. 7 January 2018.
  5. ↑ "Concerning the Bank of Upper India, Meerut, 1915". 2 December 2009.
  6. ↑
  7. ↑
  8. ↑ "The Project Gutenberg eBook of Indian Currency and Finance, by John Maynard Keynes".
  9. ↑ "Reserve Bank of India Museum Kolkata". 23 May 2019.
  10. ↑ "Brief History of Banking in India - GKToday".
  11. ↑ "Reserve Bank of India Museum Kolkata". 23 May 2019.
  12. ↑ "Brief History of Banking in India - GKToday".
  13. ↑ "The Project Gutenberg eBook of Indian Currency and Finance, by John Maynard Keynes".
  14. ↑ "Reserve Bank of India Museum Kolkata". 23 May 2019.
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