Anglo-Egyptian Bank


Anglo-Egyptian Bank

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.

History

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 Alexandria
* 1878 Larnaca and Nicosia
* 1881 Malta
* 1888 Gibraltar
* 1890 The bank closed the branches in Cyprus and Port Saïd.
* 1913 Khartoum. After nationalization in 1970, the operations in Sudan became part of Bank of Khartoum.
* 1918 Jerusalem and Jaffa
* 1921 The Musky, a commercial district in Cairo.
* 1925 Anglo-Egyptian had 16 branches in all.

Source

Samir Saul (1994) From the Anglo-Egyptian Bank to Barclays (DCO): A Century of Overseas Banking. In M. Davids, F. Proceedings of the Conference on Business History, Rotterdam, The Netherlands. de Goey, D. De Wit (eds.),


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