Bank of the Orient
The reason given is:
Last edit by: Luziyca (talk · contrib) · Last edited on Sun, 15 Dec 2024 07:05:59 +0000
| File:OrientalBank.png Logo | |
| Public | |
| Traded as | CSX: OR |
| Industry | Banking |
| Founded | 1811 |
| Headquarters | , |
Key people | Jim Moller (President) Benjamin Fraser (managing director) |
| Products | Commodities, consumer banking, corporate banking, private banking, credit cards, finance and insurance, foreign currency exchange |
Number of employees | TBD |
| Website | orientalbank.com |
The Bank of the Orient (Vespasian: Banca d'Oriente) is an Imaguan-based bank providing consumer banking, corporate banking, and finance and insurance, and the largest bank in Imagua, competing closely with Eldmark-based Koskull och Köhler and Ästeriasbanken, and the Imaguan-based Bank of the Arucian and the Dockworker's Credit Union. Established in 1811 with a branch in Cuanstad as the Bank of Oriental Business, it initally focused only on businesses dealing with imports and exports,
History
The Bank of the Orient was first established in 1811 in Cuanstad, as the city started to transform into a manufacturing hub. Originally known as the Bank of Oriental Business, as it was meant to serve businesses as opposed to "every-day" customers, the Bank of the Orient was for a long time confined to Cuanstad, with the first branch outside of Cuanstad, in Nua Taois, only opening in 1857. In 1859, it was officially chartered as a bank by the colonial government.
In 1862, the Bank of the Orient officially adopted its present name, and began allowing non-business customers to open accounts, as there was a growing demand for consumer banking on Imagua, as opposed to just corporate banking, which was what the Bank of the Orient had been doing previously.
With this decision, the Bank of the Orient began to expand across the island, to the point that by 1885, it was noted that "any self-respecting town on the island would have a Bank of the Orient," and that outside of Cuanstad, "it was the only bank available on the islands." This effectively gave the Bank of the Orient a monopoly over banking across most of Imagua.
The bank continued to grow until the economic depression in 1915. While the Bank of the Orient struggled during this time, it managed to consolidate its monopoly, with virtually all smaller commercial banks in the country being bought out by the Bank of the Orient by the start of the Great War.
After the Great War's conclusion, and the granting of "equal partner" status in 1936, the Imaguan Prime Minister of the day, Lucas Pembroke felt forced to address the problem of the Bank of the Orient, as it had grown "so big that it effectively smothered competition."
Pembroke's solution was to relax restrictions on foreign banks operating on Imagua, and an "urging" of the Bank of the Orient to sell some of their "redundant" banks to those wishing to start a smaller bank. These redundant banks was ultimately purchased by the Dockworkers Credit Union, which broke up the monopoly to a level "acceptable" to Pembroke.
In the aftermath of the Solarian War, the Bank of the Orient quickly expanded to the newly-annexed Assimas Islands, and started to eye other nations in the Arucian Sea, especially Eldmark.
(TBC)
Operations
.jpg)
Corporate structure
As the Bank of the Orient provides a wide selection of financial services to the general public, as well as to corporations, the Bank of the Orient's internal corporate structure has to accommodate both ordinary clients, and corporate clients.
Thus, the Bank of the Orient's structure is arranged into three sections:
- Personal Banking Section (consumer banking)
- Corporate Banking Section (corporate banking)
- Private Banking Section (private banking)
Corporate governance
The Bank of the Orient's board of directors, as of 2018, is made up of President Jim Moller, managing director Benjamin Fraser, Director of the Personal Banking Section Michael Smith, Director of the Corporate Banking Section Maryanne Harris, Director of the Private Banking Section Donald Sutton, and ten members elected by the shareholders of the Bank of the Orient.
Locations
.jpg)
As of 2018, the Bank of the Orient operates X branches across Y countries, mostly concentrated in the nations on or surrounding the Arucian Sea.
| Country | Branches |
|---|---|
| File:ImaguaFlag.png Imagua and the Assimas | 94 |
 Nuxica |
30 |
 Vinalia |
10 |
| Example | Example |
