Canton Trust and Commercial Bank

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 run occurred in the bank after it suffered from heavy lending to property sector and fraud.[1] Although The Hongkong and Shanghai Banking Corporation agreed to lend the bank HK$25 million to overcome the crisis, the bank still bankrupted on 8 February 1965. This caused a series of bank runs in other several small and medium banks in Hong Kong.[2][3]

See also

References

  1. ↑ BANK REGULATION IN HONG KONG
  2. ↑ Hong Kong as an International Financial Centre
  3. ↑ The 1965 Bank Runs