Tjong A Fie was not only a prominent entrepreneur in Medan during the early 20th century, but also played a significant role in the development of banking in the Dutch East Indies. His involvement in establishing and managing financial institutions contributed greatly to the economic growth of Medan, particularly in supporting the Chinese community and local businesses.

One of his major contributions was the establishment of Deli Bank in 1907, recognized as the first Chinese-owned bank in Sumatra. The bank provided financial services that supported trade and investment activities, offering broader access to capital for local entrepreneurs who previously had limited opportunities within the colonial banking system.

In addition, Tjong A Fie was involved in the founding of Batavia Bank, a financial institution built through collaboration between Chinese leaders and local businessmen. The bank played an important role in strengthening intercity economic networks and symbolized cross-cultural cooperation in business during that era.

His role also extended to Kesawan Bank, where he served as a shareholder and commissioner around 1920. As one of Medan’s key financial institutions, Kesawan Bank supported the needs of a rapidly growing urban economy. Through his involvement, Tjong A Fie contributed to strengthening the city’s economic structure and the expansion of commerce.

Through these institutions, Tjong A Fie demonstrated strong vision and leadership in building a more inclusive financial system. His contributions to banking reflect not only his personal success, but also his lasting impact on the economic development of Medan and the surrounding region.