Commercial Bank
From Graces Guide
1840 Established in London with the objective of developing agency relationships with other banks, rather than opening branches of its own.
1856 Deposits peaked but then declined as the bank encountered difficulties due to the failure of an important corporate customer.
1861 £67,000 was lost as a result of fraud by a ledger-keeper. The bank was forced to seek assistance from London and Westminster Bank in order to prevent a run. Later that year the entire business was transferred to London & Westminster Bank, and the bank was wound up.
See Also
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Sources of Information
- [1] RBS Heritage