Canton Trust and Commercial Bank
Canton Trust and Commercial Bank (Chinese: 廣東信託銀行) was a Chinese bank in Hong Kong.
History
[edit]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]
References
[edit]- ^ BANK REGULATION IN HONG KONG
- ^ "Run on Yuen Long branch of local bank". South China Morning Post. February 8, 1965. ProQuest 1507150028.
- ^ Hong Kong as an International Financial Centre
- ^ The 1965 Bank Runs
See also
[edit]
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