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The Netherlands Trading Society ( nl, Nederlandsche Handel-Maatschappij or NHM) was a Dutch trading and financial company, established in 1824 in
The Hague The Hague ( ; nl, Den Haag or ) is a city and municipality of the Netherlands, situated on the west coast facing the North Sea. The Hague is the country's administrative centre and its seat of government, and while the official capital of ...
by King William I to promote and develop trade, shipping and agriculture. For the next 140 years the NHM developed a large international branch network and increasingly engaged in banking operations. In 1964 it merged with Twentsche Bank to form
Algemene Bank Nederland Algemene Bank Nederland (ABN, "General Bank of the Netherlands") was a Dutch bank that was created in 1964 through the merger of the Netherlands Trading Society ( nl, Nederlandsche Handel-Maatschappij, NHM, est. 1824) with the (TB, est. 1861). I ...
, itself a predecessor of
ABN AMRO ABN or abn may refer to: Companies * ABN AMRO Group, a Dutch bank group * ABN AMRO, sometimes referred to as "ABN" in shorthand, is a Dutch state-owned bank * Algemene Bank Nederland, a now-defunct Dutch bank Radio, news and television organizat ...
.


History

The NHM was a private company which issued publicly traded shares. According to the king, the NHM would act to leverage economic activity and encourage the development of national wealth. However, in practice it came down to expanding existing trade, by gathering data and searching for new markets as well as financing industry and shipping. Its close association with the
Dutch government The politics of the Netherlands take place within the framework of a parliamentary representative democracy, a constitutional monarchy, and a decentralised unitary state.''Civil service systems in Western Europe'' edited by A. J. G. M. Bekke, ...
meant it played an important role in the development of trade between the Netherlands and the
Dutch East Indies The Dutch East Indies, also known as the Netherlands East Indies ( nl, Nederlands(ch)-Indië; ), was a Dutch colony consisting of what is now Indonesia. It was formed from the nationalised trading posts of the Dutch East India Company, which ...
. Its former headquarters in
De Bazel De Bazel is a listed/protected historic building on the west side of the Vijzelstraat in Amsterdam (at number 32), and stretches from the Herengracht to the Keizersgracht. It stands as an example of Brick Expressionism. History The building w ...
in Amsterdam houses the Amsterdam Archives today.Amsterdam Archives
The NHM is sometimes called the successor of the
Dutch East India Company The United East India Company ( nl, Verenigde Oostindische Compagnie, the VOC) was a chartered company established on the 20th March 1602 by the States General of the Netherlands amalgamating existing companies into the first joint-stock ...
or VOC, as it was also a private company that issued shares and financed trade with the Dutch East Indies. The establishment of the NHM can be seen as an attempt to bring new impetus to trade with the Dutch East Indies after the depression of the years of French domination (1795–1814) and the final collapse of the VOC two decades earlier. With playful reference to the greatness of the VOC, the NHM was colloquially known as or the "little company". The NHM financing of trade and shipping led to the development of a network of branches which increasingly engaged in financing and banking operations. The network extended throughout South East Asia and on the trade routes between the Netherlands and the Dutch East Indies and the NHM continued to extend its network into the 20th century. It lost a number of its branches when the
Indonesian government The term Government of Indonesia ( id, Pemerintah Indonesia) can have a number of different meanings. At its widest, it can refer collectively to the three traditional branches of government – the executive branch, legislative branch and ju ...
nationalised them in 1960 to form a new locally owned bank, but by then had branches in many other parts of the world.


Time line

*1824: King William I created the Nederlandsche Handel-Maatschappij (NHM) by Royal Decree to revive trade between the Netherlands and the
Netherlands East Indies The Dutch East Indies, also known as the Netherlands East Indies ( nl, Nederlands(ch)-Indië; ), was a Dutch colony consisting of what is now Indonesia. It was formed from the nationalised trading posts of the Dutch East India Company, which ...
. *1826: NHM opened an office in
Batavia Batavia may refer to: Historical places * Batavia (region), a land inhabited by the Batavian people during the Roman Empire, today part of the Netherlands * Batavia, Dutch East Indies, present-day Jakarta, the former capital of the Dutch East In ...
(now
Jakarta Jakarta (; , bew, Jakarte), officially the Special Capital Region of Jakarta ( id, Daerah Khusus Ibukota Jakarta) is the capital and largest city of Indonesia. Lying on the northwest coast of Java, the world's most populous island, Jakarta ...
), known as *1858: NHM opened a branch in
Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...
*1870s: NHM expands its overseas activities into banking *1888: NHM opened a branch in
Penang Penang ( ms, Pulau Pinang, is a Malaysian state located on the northwest coast of Peninsular Malaysia, by the Malacca Strait. It has two parts: Penang Island, where the capital city, George Town, is located, and Seberang Perai on the Malay ...
*1889: NHM opened a branch in
Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...
*1902: NHM starts banking operations in the Netherlands *1920: NHM opened branches in
Bombay Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...
(
Mumbai Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...
) and
Calcutta Kolkata (, or , ; also known as Calcutta , List of renamed places in India#West Bengal, the official name until 2001) is the Capital city, capital of the Indian States and union territories of India, state of West Bengal, on the eastern ba ...
(
Kolkata Kolkata (, or , ; also known as Calcutta , the official name until 2001) is the capital of the Indian state of West Bengal, on the eastern bank of the Hooghly River west of the border with Bangladesh. It is the primary business, comme ...
) primarily to work with clients in the
diamond Diamond is a Allotropes of carbon, solid form of the element carbon with its atoms arranged in a crystal structure called diamond cubic. Another solid form of carbon known as graphite is the Chemical stability, chemically stable form of car ...
business *1926: NHM opened a branch in
Jeddah Jeddah ( ), also spelled Jedda, Jiddah or Jidda ( ; ar, , Jidda, ), is a city in the Hejaz region of the Kingdom of Saudi Arabia (KSA) and the country's commercial center. Established in the 6th century BC as a fishing village, Jeddah's pro ...
,
Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the A ...
. Known later as the Saudi Hollandi Bank (currently
Alawwal Bank The Alawwal Bank ( ar, البنك الأول), previously known as Saudi Hollandi Bank, was a Saudi Arabian bank based in Riyadh, Saudi Arabia. It was the first operating bank in the Kingdom of Saudi Arabia and was founded in 1926 as a branch of ...
), it was the first, and until 1948 the only,
commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with cor ...
in the Kingdom. The branch existed to serve the needs of Indonesian Muslims coming to perform
Hajj The Hajj (; ar, حَجّ '; sometimes also spelled Hadj, Hadji or Haj in English) is an annual Islamic pilgrimage to Mecca, Saudi Arabia, the holiest city for Muslims. Hajj is a mandatory religious duty for Muslims that must be carried ...
, the
pilgrimage A pilgrimage is a journey, often into an unknown or foreign place, where a person goes in search of new or expanded meaning about their self, others, nature, or a higher good, through the experience. It can lead to a personal transformation, aft ...
to
Mecca Mecca (; officially Makkah al-Mukarramah, commonly shortened to Makkah ()) is a city and administrative center of the Mecca Province of Saudi Arabia, and the Holiest sites in Islam, holiest city in Islam. It is inland from Jeddah on the Red ...
*1934: Financial restructuring; NHM reduces its capital by 75 percent *1936: NHM initiates a retail presence in the Netherlands beyond its previous branches in Amsterdam, The Hague and Rotterdam, by acquiring the Guelders Credit Union nl, Geldersche Credietvereeniging) *1941: NHM opened an agency in
New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...
*1948: NHM opened a branch in
Karachi Karachi (; ur, ; ; ) is the most populous city in Pakistan and 12th most populous city in the world, with a population of over 20 million. It is situated at the southern tip of the country along the Arabian Sea coast. It is the former cap ...
to become the first foreign bank to receive a banking license from the new government of
Pakistan Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's List of countries and dependencies by population, fifth-most populous country, with a population of almost 24 ...
*1949: NHM acquired
De Surinaamsche Bank ''De Surinaamsche Bank'' (DSB; Bank of Suriname in English), is the largest bank in Suriname. History Simon Abendanon founded De Surinaamsche Bank (DSB) on 19 January 1865 in Paramaribo, and it opened for business on 18 July 1865 in the home of o ...
*1951: NHM opened branches in
Mombasa Mombasa ( ; ) is a coastal city in southeastern Kenya along the Indian Ocean. It was the first capital of the British East Africa, before Nairobi was elevated to capital city status. It now serves as the capital of Mombasa County. The town is ...
, (
Kenya ) , national_anthem = "Ee Mungu Nguvu Yetu"() , image_map = , map_caption = , image_map2 = , capital = Nairobi , coordinates = , largest_city = Nairobi , ...
), and
Dar-es-Salaam Dar es Salaam (; from ar, دَار السَّلَام, Dâr es-Selâm, lit=Abode of Peace) or commonly known as Dar, is the largest city and financial hub of Tanzania. It is also the capital of Dar es Salaam Region. With a population of over ...
, (
Tanganyika Tanganyika may refer to: Places * Tanganyika Territory (1916–1961), a former British territory which preceded the sovereign state * Tanganyika (1961–1964), a sovereign state, comprising the mainland part of present-day Tanzania * Tanzania Main ...
) *1954: NHM opened a branch in
Beirut Beirut, french: Beyrouth is the capital and largest city of Lebanon. , Greater Beirut has a population of 2.5 million, which makes it the third-largest city in the Levant region. The city is situated on a peninsula at the midpoint o ...
, (
Lebanon Lebanon ( , ar, لُبْنَان, translit=lubnān, ), officially the Republic of Lebanon () or the Lebanese Republic, is a country in Western Asia. It is located between Syria to the north and east and Israel to the south, while Cyprus li ...
), and one in
Kampala Kampala (, ) is the capital and largest city of Uganda. The city proper has a population of 1,680,000 and is divided into the five political divisions of Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division, and Ruba ...
, (
Uganda }), is a landlocked country in East Africa East Africa, Eastern Africa, or East of Africa, is the eastern subregion of the African continent. In the United Nations Statistics Division scheme of geographic regions, 10-11-(16*) territor ...
) *1959: The Indonesian government nationalized NHM's plantations *1960: The Indonesian government nationalized NHM's banking operations into ''Bank Ekspor Impor Indonesia'', later
Bank Mandiri PT Bank Mandiri (Persero) Tbk or Bank Mandiri, headquartered in Jakarta, is the largest bank in Indonesia in terms of assets, loans and deposits. Total assets as of March 2021, were IDR 1.58 quadrillion (around US$110.56 billion). As ...
*1963: NHM set up its
Malaysia Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two r ...
n head office in
Kuala Lumpur , anthem = '' Maju dan Sejahtera'' , image_map = , map_caption = , pushpin_map = Malaysia#Southeast Asia#Asia , pushpin_map_caption = , coordinates = , su ...
*1964: NHM merged with De Twentsche Bank to form
Algemene Bank Nederland Algemene Bank Nederland (ABN, "General Bank of the Netherlands") was a Dutch bank that was created in 1964 through the merger of the Netherlands Trading Society ( nl, Nederlandsche Handel-Maatschappij, NHM, est. 1824) with the (TB, est. 1861). I ...
(ABN)


Buildings

The building at Vijzelstraat 32 in
Amsterdam Amsterdam ( , , , lit. ''The Dam on the River Amstel'') is the Capital of the Netherlands, capital and Municipalities of the Netherlands, most populous city of the Netherlands, with The Hague being the seat of government. It has a population ...
known today as "
De Bazel De Bazel is a listed/protected historic building on the west side of the Vijzelstraat in Amsterdam (at number 32), and stretches from the Herengracht to the Keizersgracht. It stands as an example of Brick Expressionism. History The building w ...
"is named after its architect
Karel de Bazel Karel Petrus Cornelis de Bazel (Den Helder, 14 February 1869—Amsterdam, 28 November 1923) was a modern Dutch architect, engraver, draftsman, furniture designer, carpet designer, glass artist and bookbinding designer. He was the teacher of Adria ...
. It was originally built in 1919-1926 for the NHM and it is decorated with many details reminiscent of Indonesia, most notably the brickwork, which earned the building the nickname "
spekkoek Spekkoek (kue lapis legit or spekuk in Indonesian) is a type of Indonesian layer cake. It was developed during colonial times in the Dutch East Indies. The firm-textured cake is an Indo (Dutch-Indonesian) version of the European multi-layered s ...
" It was later repurposed as the Amsterdam Archives. File:HOFDIJK (1860) HET GEBOUW DER HANDELMAATSCHAPPIJ.jpg, NHM head office building in Amsterdam, 1860, at Heerengracht 466 File:Amsterdam - Herengracht 466.JPG, The same building in 2011 File:Gebouw de Bazel.jpg, "
De Bazel De Bazel is a listed/protected historic building on the west side of the Vijzelstraat in Amsterdam (at number 32), and stretches from the Herengracht to the Keizersgracht. It stands as an example of Brick Expressionism. History The building w ...
", built in 1919-1926 File:Rotterdam blaak34.jpg, Former NHM branch in
Rotterdam Rotterdam ( , , , lit. ''The Dam on the River Rotte'') is the second largest city and municipality in the Netherlands. It is in the province of South Holland, part of the North Sea mouth of the Rhine–Meuse–Scheldt delta, via the ''"N ...
, now Blaak House office center File:Den Haag - Kneuterdijk 1.JPG, Former NHM branch in
The Hague The Hague ( ; nl, Den Haag or ) is a city and municipality of the Netherlands, situated on the west coast facing the North Sea. The Hague is the country's administrative centre and its seat of government, and while the official capital of ...
, now File:COLLECTIE TROPENMUSEUM Luchtfoto van het gebouw van de NHM in Djakarta Kota TMnr 60054793.jpg, NHM branch in Jakarta, circa 1955 File:Museum Bank Mandiri - panoramio.jpg, The same building in 2017,
Bank Mandiri Museum Bank Mandiri Museum ( id, Museum Bank Mandiri) is the corporate museum of the namesake Bank Mandiri, located in the old banking district of Jakarta Old Town in northern Jakarta, Indonesia. The museum is housed in the former headquarters of the Ne ...
File:COLLECTIE TROPENMUSEUM Filiaal van de factorij van de NHM langs de Molenvliet in Noordwijk Batavia TMnr 10015447.jpg, NHM branch in Weltevreden, Batavia (now
Sawah Besar Sawah Besar is a district (''kecamatan'') of Central Jakarta, Indonesia. Its neighborhoods are among the most historic, containing the 1820-established Pasar Baru ("New Market"), the new colonial city – Weltevreden – and the old course ...
, Central Jakarta) File:COLLECTIE TROPENMUSEUM Kantoor van de Nederlandse Handelsmaatschappij in Soerabaja Oost-Java. TMnr 60007982.jpg, NHM branch in
Surabaya Surabaya ( jv, ꦱꦸꦫꦧꦪ or jv, ꦯꦹꦫꦨꦪ; ; ) is the capital city of the Provinces of Indonesia, Indonesian province of East Java and the List of Indonesian cities by population, second-largest city in Indonesia, after Jakarta. L ...
,
East Java East Java ( id, Jawa Timur) is a Provinces of Indonesia, province of Indonesia located in the easternmost hemisphere of Java island. It has a land border only with the province of Central Java to the west; the Java Sea and the Indian Ocean bord ...
File:COLLECTIE TROPENMUSEUM Kantoor van de NHM aan de Cremerweg TMnr 10015337.jpg, NHM branch in
Medan Medan (; English: ) is the capital and largest city of the Indonesian province of North Sumatra, as well as a regional hub and financial centre of Sumatra. According to the National Development Planning Agency, Medan is one of the four main ...
,
North Sumatra North Sumatra ( id, Sumatra Utara) is a province of Indonesia located on the northern part of the island of Sumatra. Its capital and largest city is Medan. North Sumatra is Indonesia's fourth most populous province after West Java, East Java and ...
File:COLLECTIE TROPENMUSEUM Handelskantoor (Nederlandsche Handels Maatschappij) te Semarang TMnr 10014765.jpg, NHM branch in
Semarang Semarang ( jv, ꦏꦸꦛꦯꦼꦩꦫꦁ , Pegon: سماراڠ) is the capital and largest city of Central Java province in Indonesia. It was a major port during the Dutch colonial era, and is still an important regional center and port today. ...
,
Central Java Central Java ( id, Jawa Tengah) is a province of Indonesia, located in the middle of the island of Java. Its administrative capital is Semarang. It is bordered by West Java in the west, the Indian Ocean and the Special Region of Yogyakarta in t ...
File:Beach Street Penang Dec 2006 002.jpg, Former NHM branch in
Penang Penang ( ms, Pulau Pinang, is a Malaysian state located on the northwest coast of Peninsular Malaysia, by the Malacca Strait. It has two parts: Penang Island, where the capital city, George Town, is located, and Seberang Perai on the Malay ...
,
Malaysia Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two r ...
File:Tcitp d126 netherlands trading society.jpg, NHM branch in Queen's Building,
Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...
, 1908 File:Carlowitz & Co..JPG, Former NHM branch in
Shanghai Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flow ...
from 1919 to 1951, previously office of German trading house Carlowitz & Co. expropriated in 1917


See also

*
Bank Indonesia Bank Indonesia (BI) is the central bank of the Republic of Indonesia. It replaced in 1953 the Bank of Java ( nl, De Javasche Bank, DJB), which had been created in 1828 to serve the financial needs of the Dutch East Indies. History Bank of Ja ...
, formerly Bank of Java *
Nederlandsch-Indische Handelsbank The Nederlandsch-Indische Handelsbank (NIHB, ) was a Dutch bank established in 1863 to finance trade between the Netherlands and the Dutch East Indies. During most of the colonial period, it was the second-largest of the “big three” commerci ...
*
Nederlandsch-Indische Escompto Maatschappij The Nederlandsch-Indische Escompto Maatschappij (NIEM, ) was a significant Dutch bank, founded in 1857 in Batavia, Dutch East Indies. In the first half of the 20th century, it was the smallest of the “big three” commercial banks, behind the N ...
*
Nederlandsch-Indische Levensverzekerings en Lijfrente Maatschappij The Nederlandsch-Indische Levensverzekerings en Lijfrente Maatschappij (NILLMIJ, ) was a major Dutch insurance business with substantial operations in the Dutch East Indies and in the Netherlands. After Indonesia became independent, its operati ...
*
HSBC HSBC Holdings plc is a British multinational universal bank and financial services holding company. It is the largest bank in Europe by total assets ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 tri ...
*
Banque de l'Indochine The Banque de l'Indochine (), originally Banque de l'Indo-Chine ("Bank of Indochina"), was a bank created in 1875 in Paris to finance French colonial development in Asia. As a bank of issue in Indochina until 1952 (and in French Paci ...


References


External links

* {{Authority control Defunct banks of the Netherlands History of banking Banks established in 1824 Banks disestablished in 1964 ABN AMRO 1824 establishments in the Netherlands