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The Chartered Bank opened its first overseas branch in India, at Kolkata, on 12 April
1858. Eight years later the Kolkata agent described the Bank's credit locally as
splendid and its business as flourishing, particularly the substantial turnover in rice
bills with the leading Arab firms. When the Chartered Bank first established itself in
India, Kolkata was the most important commercial city, and was the centre of the jute
and indigo trades. With the growth of the cotton trade and the opening of the Suez
Canal in 1869, Bombay took over from Kolkata as India's main trade centre. Today
the Bank's branches and sub-branches in India are directed and administered from
Mumbai (Bombay) with Kolkata remaining an important trading and banking centre.
Contents
1. Preface