Clydesdale Bank
Head Office: Glasgow.
London office: 30 Lombard Street, EC.
1838 Established as Clydesdale Banking Co
1920 Affiliated with the London Joint City and Midland Bank[1], later to be known as the Midland Bank
1923 Midland also acquired the North of Scotland Bank.
1950 Amalgamated with the North of Scotland Bank to become the Clydesdale and North of Scotland Bank (soon shortened to Clydesdale Bank). The merged bank became Scotland's largest in terms of deposits, advances and number of branches.
By 1969, mergers elsewhere had reduced the number of Scottish banks to three with Clydesdale now being the smallest.
1980s Midland needed to rationalise and sold Clydesdale (along with Midland's Irish subsidiaries, Northern Bank and Northern Bank (Ireland)) to National Australia Bank[2]. It paid £420 million for the Clydesdale bank.
2000 National Australia Bank merged its 2 British subsidiaries - Clydesdale and Yorkshire Banks[3]
2014 Having suffered serious losses on commercial loans, the Clydesdale (including the Yorkshire) was to be sold by National Australia Bank[4]
By 2021 Clydesdale Bank was part of Virgin Money UK
See Also
Sources of Information
- [2] Wikipedia