The Oriental Bank Corporation 東藩滙理銀行 was the first bank to have opened in Hong Kong; it was also the first note issuing bank.
In 1860s, the bank held a dominant position in India and China. However, it suffered much from the 'coffee disease' in Ceylon, which devastated the coffee plantations in that area, in which the company had invested heavily. In 1884, the bank ran into severe difficulties and was reconstituted as New Oriental Bank Corporation. With the growth of Hong Kong and Shanghai Banking Corporation and Standard Chartered Bank, the new bank failed to survive and closed down in 1892.
|$5 bill issued in 1866|
|$5 bill; issue date: July 1, 1936|
The average amount of bank notes in circulation in Hong Kong during the month ending January 31, 1884:
|Bank||Average Amount||Specie in Reserve|
|Oriental Bank Corporation|
|Chartered Mercantile Bank of India, London, and China|
|Chartered Bank of India, Australia, and China|
|Hong Kong and Shanghai Banking Corporation|
Unfortunately I was unable to read the numbers written for HSBC.
The London and China Telegraph, March 25, 1884
- TO BE COMPLETED -