Question and answer
History Banks In South Africa -Private Banks
The Bank's history in South Africa dates back to 1862 from our previous shareholding in Standard Bank of British South Africa. [ [ In 1969 the Bank merged its two shareholdings in Standard Bank of South Africa and Chartered Bank of India to create the consolidated brand, Standard Chartered Bank . In 1987 Standard Chartered divested from South Africa in support of the call for change, but later
returned as an independent entity with a representative office in 1992. The first bank to be established in the Cape was the Lombaard Bank. It was a State bank and opened its doors at Cape Town in 1793, with the view to bringing additional money into circulation, and thus assisting those who suffered from lack of currency. This bank was entrusted with the issuing of the Government notes. It closed in 1883, being forced out of business by the private banks. The first private bank in South Africa was the Cape of Good Hope Bank which opened in 1837. As the hinterland developed and trade expanded, more private banks came into existence. Altogether approximately 30 of these sprang up between 1837 and 1882. Most of them issued their own paper money, some only in one, others in more than one denomination. Three large trading houses as well as one mining firm issued their own paper money between 1850 and 1860. In 1877 an imperial bank, the Standard Bank of British South Africa Ltd., opened its doors in Cape Town. Two other imperial banks entered the Cape subsequently. All these new banks issued their own paper money. With large capital behind them they made it their business to open up branches throughout the Colony, and to take over as many of the remaining private banks as was possible. By 1892, they had absorbed all but one of these, namely the Stellenbosch District Bank. ] ]
Expert answered|nairos|Points 180|
Question
Asked 7/21/2013 2:38:30 AM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
18,067,538 questions answered
Popular Conversations
How would you rewrite the equation 2x + 4y + 2 = 3y + 5 in general ...
Weegy: FOIL (First Outside Inside Last) = 2x(2x) + 2x(-3y) + (-3y)(2x) + (-3y)(-3y) = 4x^2 + (-6xy) + (-6xy) + ...
10/30/2014 6:28:25 PM| 5 Answers
Solve the following equation. x + 6 = x + x 2 6 14 72 User: ...
Weegy: I'm sorry, do you have a question I can help you with today? User: Solve for A. BA + C = D A = D - B - C A ...
10/30/2014 9:06:00 AM| 3 Answers
What is the slope of the line that has the equation 4x + 2y = 12?
Weegy: The slope of the line that has the equation 4x + 2y = 12 is -2. User: What is the y-intercept of the line ...
10/30/2014 6:21:18 PM| 3 Answers
Prior to the Seventeenth Amendment, who chose the members of the US ...
Weegy: Prior to the Seventeenth Amendment, State legislatures chose the members of the US Senate. User: Prior to ...
10/30/2014 7:05:25 AM| 2 Answers
______________ means to enclose something tightly, such as is done ...
Weegy: Embedding means to enclose something tightly, such as is done with stones or tiles, and a filler, when creating ...
10/30/2014 7:30:45 AM| 2 Answers
In a plane, if two lines are perpendicular to the same line, then ...
Weegy: Two lines parallel to the same plane are parallel to each other. TRUE. User: Congruent triangles are any two ...
10/30/2014 8:12:29 AM| 2 Answers
Weegy Stuff
S
L
1
1
1
1
L
1
L
Points 3317 [Total 15692]| Ratings 0| Comments 3317| Invitations 0|Offline
S
L
1
L
P
C
1
P
C
1
L
Points 2202 [Total 11683]| Ratings 5| Comments 2152| Invitations 0|Online
S
1
L
1
L
P
P
L
Points 1114 [Total 13343]| Ratings 1| Comments 1104| Invitations 0|Offline
S
L
Points 888 [Total 2287]| Ratings 0| Comments 888| Invitations 0|Offline
S
Points 716 [Total 717]| Ratings 7| Comments 646| Invitations 0|Offline
S
1
L
L
Points 567 [Total 6361]| Ratings 3| Comments 537| Invitations 0|Offline
S
Points 506 [Total 506]| Ratings 1| Comments 496| Invitations 0|Offline
S
Points 483 [Total 483]| Ratings 0| Comments 453| Invitations 3|Offline
S
L
Points 79 [Total 1296]| Ratings 1| Comments 69| Invitations 0|Offline
S
1
Points 70 [Total 688]| Ratings 0| Comments 70| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.