The Asiatic Bank

The Asiatic Bank (1804) was a bank founded in the year 1804 in British India. The bank was the ninth oldest bank in India.

The bank was eventually merged with the Bank of Madras in 1843.

Founding
The Asiatic Bank was the third oldest bank founded in the Madras Presidency after The Madras Bank (1683), the Carnatic Bank (1788) and The British Bank of Madras (1795) served many cities in South India.

The bank was founded and largely managed by European traders. They worked closely with the English East India Company.

Management
The bank was staffed by mostly British nationals who were drawn mainly from the East India Company.

The bank had most of its offices and branches in the Madras Presidency.

Final years
The bank was one of four banks that were merged to form the Bank of Madras in 1843: The Madras Bank (1683), the Carnatic Bank and The British Bank of Madras (1795). The Bank of Madras is one of the precursors of the Imperial Bank of India and eventually the State Bank of India.

Legacy
The bank was one of the first banks in India to print its own currency notes.

The bank is notable for being the ninth oldest bank in India.

The bank is also notable for being one of the precursors of the State Bank of India, through its predecessors the Imperial Bank of India and the Bank of Madras.