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Canton Trust and Commercial Bank

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Not to be confused with Bank of Canton or Kwangtung Provincial Bank.

Canton Trust and Commercial Bank (Chinese: 廣東信託銀行) was a Chinese bank in Hong Kong.

History

In 1965, bank runs occurred at branches of the bank after it suffered from heavy lending to property sector and fraud.[1] Runs on branches of the bank in Aberdeen and Yuen Long occurred in early February 1965.[2] The Hongkong and Shanghai Banking Corporation agreed to lend the bank HK$25 million to overcome the crisis, but despite this the bank declared bankruptcy on 8 February 1965. This caused a series of bank runs in other several small and medium banks in Hong Kong.[3][4]

See also

References

  1. ^ BANK REGULATION IN HONG KONG
  2. ^ "Run on Yuen Long branch of local bank". South China Morning Post. February 8, 1965. ProQuest 1507150028.
  3. ^ Hong Kong as an International Financial Centre
  4. ^ The 1965 Bank Runs
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