AMSTERDAM. 1. Gecombineerd aandeelbewijs van 400 Gewone Aandelen elk Fl.250, specimen, 1948. 2. Shares, specimen, 19.. One of the biggest names in Dutch corporate history. In 1824 King Willem I created the Nederlandsche Handel-Maatschappij (NHM) by Royal Decree. It was to support the Dutch industry, and invested for instance in the textile industry of Twente. However, more importantly, it was to revive trade between the Netherlands and the Netherlands East Indies. As such, the NHM is regarded as the successor company of the illustrious Dutch East India Co., the V.O.C. In 1826 NHM opened an office in Batavia (Jakarta), and in 1858 in Singapore. In 1870 NHM extended its activities to include banking (even issuing banknotes in China and Indonesia). The late 1880s brought new branches in Penang and Hong Kong. In 1920 NHM opened branches in Bombay (Mumbai) and Calcutta (Kolkata) primarily to work with clients in the diamond business. In 1926 NHM opened a branch in Jeddah, Saudi Arabia. This was the first, and until 1948 the and until 1948 the only, commercial bank in the Kingdom. The branch existed to serve the needs of Indonesian Muslims coming to perform Hajj, the pilgrimage to Mecca. 1949 saw the acquisition of De Surinaamsche Bank. Further branches,in Mombasa, Dar-es-Sallem, Beirut, Kampala and the Netherlands followed in the 1950s. The Indonesian business was lost in 1960, when the government nationalised the bank. In 1964, NHM merged with De Twentsche Bank to form the Algemeene Bank Nederland, later part of ABN-AMRO.
Themes: BANKING, COLONIES
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