Canton Trust and Commercial Bank

Canton Trust and Commercial Bank (Chinese: 廣東信託銀行) was a Chinese bank in Hong Kong.

Not to be confused with Bank of Canton or Kwangtung Provincial Bank.

History

In 1965, bank runs occurred at branches of the bank after it suffered from heavy lending to property sector and fraud.[1] Runs on branches of the bank in Aberdeen and Yuen Long occurred in early February 1965.[2] The Hongkong and Shanghai Banking Corporation agreed to lend the bank HK$25 million to overcome the crisis, but despite this the bank declared bankruptcy on 8 February 1965. This caused a series of bank runs in other several small and medium banks in Hong Kong.[3][4]

gollark: Apparently Pfizer and Moderna have Omicron vaccines now (for the BA.1 variant).
gollark: I guess we live in a society, but æ bureaucratic insanity.
gollark: It is kind of bizarre that that happened, since it probably would have been more effective to just do one dose of the mRNA ones.
gollark: Which I guess could have been used for Orion drives, but still.
gollark: Nuclear weapons, for instance, required a bunch of specialised R&D which was basically only useful for making nuclear weapons.

See also
  • Stock disasters in Hong Kong

References
  1. BANK REGULATION IN HONG KONG
  2. "Run on Yuen Long branch of local bank". South China Morning Post. February 8, 1965. ProQuest 1507150028.
  3. Hong Kong as an International Financial Centre
  4. The 1965 Bank Runs
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