Commercial Bank of India

Commercial Bank of India was a historical banking institution established in Bombay Presidency in 1845, during the British Raj. The bank was also known as Exchange Bank and operated during a period when Bombay was developing into a major commercial and financial center connected to British imperial trade. Its business extended beyond the Indian subcontinent through a network of overseas branches and agencies. At its height, the bank maintained eight branches in addition to its head office in Bombay. These branches were located in London, Calcutta, Hong Kong, Fuzhou, Shanghai, Hankou, Yokohama, and Singapore. The locations indicate that the institution was oriented toward long-distance commercial and exchange activity linking India with Britain, East Asia, and other trading centers. The bank also maintained an agency in San Francisco for the purchase of bullion, reflecting the importance of precious metals and international settlement in nineteenth-century banking. The institution operated for approximately two decades before failing in the financial crash of 1866. Its collapse occurred amid broader instability affecting banks and commercial enterprises during that period. Following the failure, the Commercial Bank of India was wound up under the direction of the Master of the Rolls. The winding-up process proceeded under the relevant provisions of the English Companies Act, while the bank had been registered under Indian law and was conducting business in England without being registered there. Commercial Bank of India is therefore best understood as a defunct historical bank rather than a contemporary financial-services brand. The available reference material documents its founding, international branch network, bullion agency, failure, and legal winding-up, but does not provide sufficient detail about its capitalization, founders, named executives, specific deposit or lending products, or surviving corporate assets.

Commercial Bank of India was founded in Bombay Presidency in 1845, when Bombay was emerging as an important port and commercial center of the British Empire. The institution was also known as Exchange Bank. Its creation reflected the expansion of formal banking and exchange infrastructure supporting trade between India, Britain, and Asian markets. The bank developed a geographically broad network for an institution of its period. In addition to its head office at Bombay, it operated eight branches: London, Calcutta, Hong Kong, Fuzhou, Shanghai, Hankou, Yokohama, and Singapore. These locations connected the bank to major commercial ports and financial centers across the British imperial and East Asian trading systems. The inclusion of London linked the institution to British finance, while the branches in China, Japan, and Singapore placed it within the maritime trade routes connecting the Indian Ocean and East Asia. The bank also maintained an agency in San Francisco for the purchase of bullion, suggesting that precious-metal transactions formed part of its international commercial role. The institution operated for about twenty years. It ultimately failed in the financial crash of 1866, a period of substantial disruption for banks and commercial businesses. The available historical account does not specify the precise causes of the bank's failure, its balance-sheet condition, or the effects on depositors and counterparties. It does establish that the bank was unable to continue operating and was subsequently wound up. The winding-up process was directed by the Master of the Rolls under the corresponding provisions of the Companies Act of England. The legal circumstances were notable because the company was registered under Indian law but was conducting business in England without being registered there. This cross-border corporate status illustrates the legal complexity faced by nineteenth-century banks operating across imperial jurisdictions. Commercial Bank of India did not survive as a modern banking group, and the available sources do not identify a successor institution, continuing brand, or parent company. Its historical significance lies in its early international branch network, its role in colonial-era commercial banking, and its failure during the crash of 1866.

• 1866

  Bank fails during the financial crash of 1866

  [1]Commercial Bank of Indiaen.wikipedia.org

  After approximately two decades of operation, the bank failed during the crash of 1866 and entered a court-directed winding-up process.

• 1845

  Bank established in Bombay Presidency

  [1]Commercial Bank of Indiaen.wikipedia.org

  Commercial Bank of India, also known as Exchange Bank, was established in Bombay Presidency during the British Raj.

A nineteenth-century colonial-era commercial and exchange bank serving trade and financial connections between Bombay, Britain, East Asia, and other international markets.

1. 1Commercial Bank of Indiaen.wikipedia.org