National Commercial Bank of Scotland

National Commercial Bank of Scotland

The National Commercial Bank of Scotland Ltd. was a Scottish commercial bank. It was established in 1959 through a merger of the National Bank of Scotland (est. 1825) with the Commercial Bank of Scotland (est. 1810). Ten years later it merged with the Royal Bank of Scotland, to become the largest clearing bank in Scotland. The National Commercial Bank issued its own banknotes.

At its foundation, the National Commercial Bank of Scotland had assets of around £300 million, and had 476 branches in Scotland and England. A joint venture with asset management company Schroders in 1964 saw the launch of a Scottish merchant banking service. The bank acquired the 36 English and Welsh branches of The National Bank Ltd., when the Irish operations of that institution were bought by the Bank of Ireland in 1966. The National Commercial Bank also established a "ladies branch" for female customers, staffed entirely by women.[1]

By 1969 economic conditions were becoming more difficult for the banking sector. In response, the National Commercial Bank merged with the Royal Bank of Scotland.[1] The resulting company had 662 branches. The merger resulted in a new holding company, National & Commercial Banking Group Ltd. The English and Welsh branches were reorganised as Williams & Glyn's Bank, while the Scottish branches transferred to the Royal Bank name. The holding company was renamed Royal Bank of Scotland Group in 1979.[2]

References


Wikimedia Foundation. 2010.

Игры ⚽ Нужен реферат?

Look at other dictionaries:

  • Commercial Bank of Scotland — Former headquarters of the Commercial Bank of Scotland on George Street, Edinburgh The Commercial Bank of Scotland Ltd. was a Scottish commercial bank. It was founded in Edinburgh in 1810, and obtained a royal charter in 1831. It grew… …   Wikipedia

  • National Bank of Scotland — Former headquarters of the Commercial Bank of Scotland on George Street, Edinburgh, by architect David Rhind The National Bank of Scotland Ltd. was a Scottish commercial bank. It was founded in 1825, and obtained a royal charter in 1831. It… …   Wikipedia

  • National Westminster Bank — Plc Type Public Limited Company Industry Financial Services Founded 1968 …   Wikipedia

  • Royal Bank of Scotland — This article is about the retail bank. For its holding company, see Royal Bank of Scotland Group. Not to be confused with Bank of Scotland. The Royal Bank of Scotland plc Banca Rìoghail na h Alba Type Public …   Wikipedia

  • National Australia Bank — Limited Type Public Traded as ASX:  …   Wikipedia

  • Royal Bank of Scotland Group — Infobox Company company name = The Royal Bank of Scotland Group Public Limited Company company company type = Public (lse|RBS) foundation = 1727 location= Edinburgh, Scotland, UK key people = Sir Tom McKillop, Chairman Sir Fred A. Goodwin, CEO… …   Wikipedia

  • Royal Bank of Scotland — Pour les articles homonymes, voir RBS. Logo de Royal Bank of Scotland C …   Wikipédia en Français

  • Royal Bank of Scotland Group — Royal Bank of Scotland Pour les articles homonymes, voir RBS. Logo de Royal Bank of Scotland …   Wikipédia en Français

  • Royal bank of scotland — Pour les articles homonymes, voir RBS. Logo de Royal Bank of Scotland …   Wikipédia en Français

  • Commercial Bank of Ethiopia — Type Government Owned Industry Finance Founded 1963 Headquarters Addis Ababa, Ethiopia Products Financial services …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”