Dutch trading company
The Dutch trading company (Dutch: Nederlandsche Handelmaatschappij ) is one of the predecessor companies of the ABN AMRO banking group .
history
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By decree of King Willem I , the Dutch Trading Company (NHG) was founded in 1824 to revive trade relations between the Netherlands and the Dutch East Indies . From 1870 the NHG expanded its business area to include banking.
Successively, an office was opened in Batavia (old name for Jakarta ) in 1826 , an agency in Singapore in 1858 , an agency in Penang in 1888 , an agency in Hong Kong in 1889 and agencies in Bombay ( Mumbai ) and Calcutta (Kolkata) in 1920 , the latter two being the latter mainly to support customers in the diamond trade .
When a representative office was opened in Jeddah ( Saudi Arabia ) in 1926, the kingdom's first and until 1948 only commercial bank was established there. The branch's customers were mainly Indonesian Muslims who were on their way to Mecca as part of their Hajj .
In 1941 the NHG opened an office in New York and in 1948 a representation in Karachi . This made the NHG the first foreign bank to receive a banking license from the new Pakistani government. In Suriname , NHG acquired De Surinaamsche Bank in 1949 . It also opened offices in Mombasa and Dar-es-Salam in 1951 and in Beirut and Kampala in 1954 .
In 1960 the Indonesian government nationalized the Indonesian branch of the NHG and formed it into the Bank Ekspor Impor Indonesia, now Bank Mandiri .
In 1963, the NHG relocated its headquarters in Malaysia to Kuala Lumpur .
In 1964 it merged with Twentsche Bank to form Algemene Bank Nederland (ABN). ABN itself merged with AMRO Bank in 1991 to form ABN AMRO.