This list of the oldest banks in Indian subcontinent includes financial institutions that were founded in the 18th and 19th centuries. Listed are the forty oldest banks in India, which includes all financial institutions founded prior to 1850.
The oldest bank in India is The Madras Bank (1683), followed by the Bank of Bombay, founded in 1720, which is then followed by the Bank of Hindustan, founded in 1770.
Imperial Bank of India was succeeded by State Bank of India in 1955 and State Bank of Pakistan in 1948 respectively whose origins can be traced back to the Bank of Calcutta. It was founded in 1806, although some of its precursors are even older, this includes the The Madras Bank (1683).
Rank Name of bank Year of founding Year of closing Present status Headquartered in References 1 The Madras Bank (1683) 1683 1843 Merged to form Bank of Madras, presently the State Bank of India Madras Presidency 2 Bank of Bombay 1720 1770 Defunct Bombay 3 Bank of Hindustan 1770 1832 Defunct Calcutta 4 General Bank of Bengal and Bihar 1773 1775 Defunct Calcutta 5 Bengal Bank 1784 1791 Defunct Calcutta 6 General Bank of India 1786 1791 Defunct Calcutta 7 Carnatic Bank 1788 1843 Merged to form Bank of Madras, presently the State Bank of India Madras Presidency 8 British Bank of Madras 1795 1843 Merged to form Bank of Madras, presently the State Bank of India Madras Presidency 9 The Asiatic Bank (1804) 1804 1843 Merged to form Bank of Madras, presently the State Bank of India Madras Presidency 10 Bank of Calcutta 1806 1921 Merged with the Imperial Bank of India, presently the State Bank of India Calcutta 11 The Commercial Bank 1819 1828 Merged with The Calcutta Bank to form The Union Bank Calcutta 12 The Calcutta Bank 1824 1828 Merged with The Commercial Bank to form The Union Bank Calcutta 13 The Bank of India 1828 1829 Defunct Calcutta 14 The Union Bank 1828 1848 Defunct Calcutta 15 The Government Savings Bank 1833 1843 Defunct Calcutta 16 The Agra & United Service Bank 1833 1866 Defunct Agra 17 The Bank of Mirzapore 1835 1837 Defunct Mirzapur 18 Bank of India (London) 1836 1836 Defunct Calcutta 19 The North Western Bank of India 1840 1859 Defunct Mussoorie 20 Bank of Bombay 1840 1921 Merged with the Imperial Bank of India, presently the State Bank of India Bombay 21 Bank of Asia 1841 1842 Defunct London 22 The Bank of Ceylon 1841 1849 Merged with the Oriental Bank Corporation Colombo 23 The East India Bank (1842) 1842 1842 Defunct London 24 The Oriental Bank Corporation 1842 1884 Defunct Bombay 25 The Agra Savings Fund 1842 1863 Defunct Agra 26 The Bank of Madras 1843 1921 Merged with the Imperial Bank of India, presently the State Bank of India Madras Presidency 27 Delhi Bank Corporation 1844 1916 Merged with the Alliance Bank of Simla Delhi 28 The Benares Bank 1844 1850 Defunct Benares 29 The Simla Bank Limited 1844 1893 Defunct Shimla 30 The Commercial Bank of India 1845 1866 Defunct Bombay 31 The Cawnpore Bank 1845 1852 Defunct Kanpur 32 The Dacca Bank 1846 1862 Merged with the Bank of Bengal, presently State Bank of India Dhaka 33 The London Bank of Australia and India 1852 1852 Defunct Agra 34 Chartered Bank of Asia 1852 1855 Defunct London 35 Chartered Mercantile Bank of India, London & China 1853 1853 Defunct London 36 Chartered Bank of India, Australia and China 1853 1853 Defunct London 37 The London and Eastern Banking Corporation 1854 1857 Defunct London 38 The Comptoir D'Escompte of Paris 1854 1854 Defunct Paris
Locations of headquarters
The below cities are frequently listed among the headquarters of the banks mentioned in the above table.
Rank Name of city Number of ancient banks headquartered 1 Calcutta 11 2 London 6 3 Madras 5 4 Bombay 4 5 Agra 3
See also History of banking Banking in India List of oldest companies List of oldest companies in India Lindy effect
References
External links Oldest Banks List List maintained by the Reserve Bank of India Charles Northcote Cooke History of Banking in India