Punjab Banking Company

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]

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

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 the 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).
  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.
  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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