The Evolution of Banking in Sukkur: From Bambi Bank to National Bank of Pakistan
Introduction
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| Sukkur banking records at rohri.net |
Sukkur, a historic city in Sindh, Pakistan, has long served as a vital trade and commerce hub along the Indus River. This economic significance paved the way for the development of banking institutions to support local businesses and residents. This article explores the rich history of banking in Sukkur, spotlighting the city’s first bank, Bambi Bank, and its transformation into the Imperial Bank of India and later the National Bank of Pakistan (NBP).
The Birth of Banking in Sukkur: Bambi Bank
The story of banking in Sukkur begins with Bambi Bank, established on January 27th though the exact year remains unspecified in historical records. Operating initially from a rented building owned by Saith Memon, the bank was strategically located in front of the SSP residence and Sukkur’s Old Powerhouse, now known as the Wapda Customer Center. This marked the advent of formal financial services in the region.
Later, Bambi Bank shifted to a new location opposite St. Mary’s High School. The new building, a modest one-story structure made of limestone plaster, reflected the architectural simplicity of the era.
Evolution into the Imperial Bank of India
Bambi Bank eventually transitioned into a branch of the Imperial Bank of India, a major financial institution formed in 1921 through the merger of three presidency banks during British rule. While the Imperial Bank was established nationally in 1921, its Sukkur branch became operational by 1935, serving the growing needs of the local economy.
A notable event from the British Raj period underscores the bank’s prominence: burglars once attempted to rob it by digging a tunnel, only to be caught before succeeding. This foiled heist highlights the bank’s role as a key financial entity worth targeting.
Post-Partition Transformation: National Bank of Pakistan
After the partition of India in 1947, the banking landscape in Pakistan shifted dramatically. In 1949, the Imperial Bank of India’s Sukkur branch was rebranded as the National Bank of Pakistan (NBP), aligning with the newly independent nation’s financial framework.
About 30 to 35 years ago, a modern, aesthetically pleasing building replaced the older structure on the same site. Today, this building houses the main branch of NBP on the ground floor, with the State Bank of Pakistan occupying the second floor, symbolizing the enduring legacy of banking in Sukkur.
Other Pre-Partition Banks in Sukkur
Before Pakistan’s formation, several other banks operated in Sukkur, contributing to its economic vibrancy. These included:
- Arabian Cooperative Bank (1921) – Located opposite Lux Park.
- Punjab National Bank (1935) – Near the old Railway Station on Bandar Road.
- Central Bank (1935) – Also on Bandar Road.
- Sindh Provisional Cooperative Bank Ltd (1938) – On Frere Road.
- Imperial Bank of India (1935) – The Sukkur branch.
Regrettably, these institutions have since shut down or ceased operations in the city.
Historical Significance and Legacy
The journey from Bambi Bank to the National Bank of Pakistan mirrors Sukkur’s growth through colonial rule, partition, and modern times. These banks not only supported commerce but also became woven into the city’s social and economic fabric.
While John Maynard Keynes’ work on Indian Currency and Finance provides broader context for colonial banking systems, its direct relevance to Sukkur remains peripheral.
Conclusion
Sukkur’s banking history reflects its resilience and adaptability as a commercial center. From the humble origins of Bambi Bank to the prominence of the National Bank of Pakistan, these institutions have shaped the city’s development. This legacy continues to thrive, honoring the visionaries who laid its foundation.
References
This article is informed by:
- Tarikh Sukkur by Rahimdad Khan Molahe
- Shedae and Sukkur Sunaro by Parsram Verrumal Masand
- Oral Histories:Works by Sayed Nazar Muhammad Shah Rizvi Kotahi Bord (1913–1993)
- Research compiled by Syed Imdad Hussain Shah Rizvi Kotahi Rohri
- Additional details from www.rohri.net
