Banking History

STANDARD CHARTERED BANK pattern hire was formed in 1969 as a merger between the Standard money box, which did blood passim Africa, and the Chartered Bank, which operated branches throughout India, China, and southeastern Asia. Lacking a truly strong domestic network, the banking groups progress has been for the most part dependent upon Third World economic and political conditions and uphill markets. Both the Standard Bank and the Chartered Bank had been in operation for more than a century when they combined forces. The Chartered Bank, originally incorporated in 1853 as the Chartered Bank of India, Australia, and China under a charter from Queen Victoria, was influential in the development of British colonial trade throughout Asia. Up until World War II, British trade in Asia flourished, and the Chartered Bank prospered. The Standard Bank was established in 1862 as the Standard Bank of British South Africa by a schoolmaster named John Paterson. Paterson had eclectic interests, including mining, railroad promotion, and truly estate development. He set out to make Standard a large bank, and proceeded to acquire smaller banks throughout Confederate Africa. For the next century, the bank played a significant business office in the banking of the region.

Since both banks were products of the colonial era, with similar structures and experience, they do an clarified match. Their complementary geographic coverage and similar historical backgrounds made for a relatively smooth transition. PRE INTERNATIONALIZATION (STANDARD BANK OF BRITISH southeast AFRICA) The Cape Colony, at the southern tip of Africa, and the British were already rulers in Cape Colony and Natal. The Cape Colony was grow in the 1850s. Many of the small-town banks that had started in 1837 were doing well and paying dividends of 12 % to 20%. The staple export was wool and Port Elizabeth, the study port, was experiencing economic prosperity as never before. In June 1857 a group of businessmen attempted to. If you want to get a full essay, order it on our website: Orderessay

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