The Mercantile Bank of India, London and China
was an Anglo
with business focus in the Far East
The bank was established in October 1853 in Bombay
), but its headquarters moved to London
in 1858. In November 1854 this Anglo
bank opened an office in Shanghai
and in 1857 it established a presence in Hong Kong
and became an issuer of Hong Kong banknotes
from 1859 to 1892, and from 1912 to 1974.
By 1860 its total assets reached the amount of 21.7 million USD, a medium-sized bank by the standards of that time. (For comparison, one of the leading Anglo-Indian banks, the Oriental Bank Corporation
was about three times larger in terms of total assets.)During the Second World War
, the Mercantile Bank had to close down several offices in the Far East, but it managed to re-open its offices after the war. The Hong Kong office re-opened in February 1946, the Shanghai
office in 1945 (but this office closed again in 1952 due to the Communist Party
rule). In 1952, total assets of the bank totaled 205.5 million USD.
This Mercantile Bank is unrelated to Mercantile Bancorporation
of the midwestern United States, which also went by the name of Mercantile Bank.
The Mercantile Bank was acquired in 1959 by The Hongkong and Shanghai Banking......