Information About

Nederlandsche Handel-maatschappij

HISTORY

1824: King Willem I created the Nederlandsche Handel-Maatschappij (NHM) by Royal Decree to revive trade between the Netherlands and the Netherlands East Indies .

1826: NHM opened an office in Batavia ( Jakarta ).

1858: NHM opened a branch in Singapore .

1870: NHM extended its activities to include banking.

1888: NHM opened a branch in Penang .

1889: NHM opened a branch in Hong Kong .

1920: NHM opened branches in Bombay ( Mumbai ) and Calcutta ( Kolkata ) primarily to work with clients in the Diamond business.

1926: NHM opened a branch in Jiddah , Saudi Arabia . This was the first, 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 .

1941: NHM opened an agency in New York City .

1948: NHM opened a branch in Karachi to become the first foreign bank to receive a banking license from the new Government of Pakistan .

1949: NHM acquired De Surinaamsche Bank .

1951: NHM opened branches in Mombasa ( Kenya ) and Dar-es-Salaam ( Tanganyika ).

1954: NHM opened a branch in Beirut ( Lebanon ) and one in Kampala ( Uganda ).

1960: The Indonesian government nationalized NHM's local operations and formed a new bank, Bank Ekspor Impor Indonesia .

1963: NHM set up its Malaysia n head office in Kuala Lumpur .

1964: NHM merged with De Twentsche Bank to form Algemene Bank Nederland (ABN).