Anglo-Egyptian Bank
Encyclopedia
The Anglo-Egyptian Bank was a British overseas bank established in 1864. The founding banks were Agra and Masterman's Bank and the General Credit and Finance Co., and the bank incorporated Pastré Frères et Compagnie (est. 1821; reorganized 1827) and Giovanni Sinadino and Co., which was the only one of the four to have its seat in Egypt, in Alexandria
. The senior officials of all four firms sat on the first board of directors.
In addition to its activities in Egypt, the Anglo-Egyptian opened branches in the British Mediterranean, where it frequently acted as banker to the British authorities.
From 1921 on, Barclays Bank had a controlling interest in Anglo-Egyptian. In 1925, Barclays Bank merged Anglo-Egyptian with two other banks to form Barclays (Dominion, Colonial & Overseas). In 1956, following the Anglo-French attack on Port Said
, the Egyptian government sequestrated the 19 branches, one sub-branch, and 26 agencies in Egypt, using them to found Bank of Alexandria
.
Alexandria
Alexandria is the second-largest city of Egypt, with a population of 4.1 million, extending about along the coast of the Mediterranean Sea in the north central part of the country; it is also the largest city lying directly on the Mediterranean coast. It is Egypt's largest seaport, serving...
. The senior officials of all four firms sat on the first board of directors.
In addition to its activities in Egypt, the Anglo-Egyptian opened branches in the British Mediterranean, where it frequently acted as banker to the British authorities.
From 1921 on, Barclays Bank had a controlling interest in Anglo-Egyptian. In 1925, Barclays Bank merged Anglo-Egyptian with two other banks to form Barclays (Dominion, Colonial & Overseas). In 1956, following the Anglo-French attack on Port Said
Port Said
Port Said is a city that lies in north east Egypt extending about 30 km along the coast of the Mediterranean Sea, north of the Suez Canal, with an approximate population of 603,787...
, the Egyptian government sequestrated the 19 branches, one sub-branch, and 26 agencies in Egypt, using them to found Bank of Alexandria
Bank of Alexandria
The Bank of Alexandria is one of the largest banks in Egypt. It has a market share of almost 7% and had assets of 5.2 billion euros as of June 30, 2006. Intesa Sanpaolo is the major shareholder in the bank. It holds 70.25% of the bank shares, IFC holds 9.75% and the Egyptian Government holds 20%...
.
Acquisition
- 1884 Anglo-Egyptian purchased the accounts of the liquidated Commercial Bank of Alexandria, which had been established in 1868.
Branch openings and closings
- 1864 AlexandriaAlexandriaAlexandria is the second-largest city of Egypt, with a population of 4.1 million, extending about along the coast of the Mediterranean Sea in the north central part of the country; it is also the largest city lying directly on the Mediterranean coast. It is Egypt's largest seaport, serving...
- 1878 LarnacaLarnacaLarnaca, is the third largest city on the southern coast of Cyprus after Nicosia and Limassol. It has a population of 72,000 and is the island's second largest commercial port and an important tourist resort...
and NicosiaNicosiaNicosia from , known locally as Lefkosia , is the capital and largest city in Cyprus, as well as its main business center. Nicosia is the only divided capital in the world, with the southern and the northern portions divided by a Green Line... - 1881 MaltaMaltaMalta , officially known as the Republic of Malta , is a Southern European country consisting of an archipelago situated in the centre of the Mediterranean, south of Sicily, east of Tunisia and north of Libya, with Gibraltar to the west and Alexandria to the east.Malta covers just over in...
- 1888 GibraltarGibraltarGibraltar is a British overseas territory located on the southern end of the Iberian Peninsula at the entrance of the Mediterranean. A peninsula with an area of , it has a northern border with Andalusia, Spain. The Rock of Gibraltar is the major landmark of the region...
- 1890 The bank closed the branches in CyprusCyprusCyprus , officially the Republic of Cyprus , is a Eurasian island country, member of the European Union, in the Eastern Mediterranean, east of Greece, south of Turkey, west of Syria and north of Egypt. It is the third largest island in the Mediterranean Sea.The earliest known human activity on the...
and Port SaïdPort SaidPort Said is a city that lies in north east Egypt extending about 30 km along the coast of the Mediterranean Sea, north of the Suez Canal, with an approximate population of 603,787...
. - 1913 KhartoumKhartoumKhartoum is the capital and largest city of Sudan and of Khartoum State. It is located at the confluence of the White Nile flowing north from Lake Victoria, and the Blue Nile flowing west from Ethiopia. The location where the two Niles meet is known as "al-Mogran"...
. After nationalization in 1970, the operations in SudanSudanSudan , officially the Republic of the Sudan , is a country in North Africa, sometimes considered part of the Middle East politically. It is bordered by Egypt to the north, the Red Sea to the northeast, Eritrea and Ethiopia to the east, South Sudan to the south, the Central African Republic to the...
became part of Bank of KhartoumBank of KhartoumBank of Khartoum , with 17 branches in the capital and 33 branches nationwide, is the largest Bank in Sudan. It is also the commercial bank with the oldest continuous history in the country.-History:...
. - 1918 Jerusalem and JaffaJaffaJaffa is an ancient port city believed to be one of the oldest in the world. Jaffa was incorporated with Tel Aviv creating the city of Tel Aviv-Yafo, Israel. Jaffa is famous for its association with the biblical story of the prophet Jonah.-Etymology:...
- 1921 The Musky, a commercial district in CairoCairoCairo , is the capital of Egypt and the largest city in the Arab world and Africa, and the 16th largest metropolitan area in the world. Nicknamed "The City of a Thousand Minarets" for its preponderance of Islamic architecture, Cairo has long been a centre of the region's political and cultural life...
. - 1925 Anglo-Egyptian had 16 branches in all.