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P&O Bank

P&O Banking Corporation

In 1920 Lord Inchcape of the P&O Steam Navigation Company, established the P&O Banking Corporation. In the same year, Lloyds Bank and National Provincial Bank took shares in P&OBC, which in turn acquired Allahabad Bank (est. 1865) in India. However, P&O Bank ran Allahabad Bank separately. In 1920 P&O Bank established a branch in Colombo, Ceylon, which it followed by establishing branches in Shanghai, Hong Kong, Singapore, and Canton. In 1927 Chartered Bank of India, Australia and China (now Standard Chartered Bank) acquired P&O Bank, but continued to run it and Allahabad Bank separately. In 1937 Chartered merged in P&O Bank, but not Allahabad.