Grindlays Bank

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The firm remained based solely in London until when offices were opened at Calcutta in [4] and then Bombay in These offices were largely autonomous, administered from London, until the local partners interests were bought out in Additional branches were opened in Simla , Delhi , Lahore and Peshawar Grindlays was regarded as "pre-eminently bankers to the Indian Army" and it did little commercial banking.

The failure of army bankers, Macgrigors, in and then the Alliance Bank of Simla in , encouraged the Grindlays partners to seek the security of a larger organisation. In , the Bank was acquired by the National Provincial Bank , converted into a company and allowed to operate independently.

Offices in London and Bombay followed in and NBI remained with these three offices until when it sought to exploit opportunities in China with a branch in Hong Kong and, later, in Shanghai. Substantial losses threatened the Bank and the Chinese operations were eventually closed.

Steady expansion continued through the early s and by the outbreak of World War I NBI was the seventh largest of the London-registered overseas banks. Standard Chartered Bank had sold its shares in Standard Bank of South Africa to the bank's existing shareholders in to escape anti-apartheid sanctions against South Africa. Minerva House , Grindlay's London headquarters from From Wikipedia, the free encyclopedia.

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