Punjab Banking Company
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| Company type | Private sector |
|---|---|
| Industry | Banking, Insurance, Capital Markets and allied industries |
| Founded | 1 May 1889 as The Punjab Banking Company |
| Founder | David Parkes Masson |
| Defunct | 31 March 1916 |
| Fate | merged with the Alliance Bank of Simla |
| Successor | Alliance Bank of Simla |
| Headquarters | , |
Number of locations | Punjab province |
Area served | India |
| Products | Deposits, Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes, SME Banking Schemes |
| Services | Banking, Trade Finance |
| Parent | Alliance 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]
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]
