National Bank of Scotland
1825 The National Banking Company of Scotland was established as a co-partnership bank. Its first governor was the Duke of Roxburghe and its first chairman was Alexander Henderson. It opened 13 branches in its first year, and began to circulate notes through the offices of its provincial shareholders. The head office was in St Andrew Square, Edinburgh.
1831 the bank received a royal charter, and changed its name to the National Bank of Scotland.
1833 Acquired the Commercial Banking Co of Aberdeen
1836 Acquired Perth Union Banking Co.
1844 it acquired the short-lived Bank of Glasgow.
1864 National Bank of Scotland was the first Scottish bank to open an office in London.
1882 it registered as a limited liability company.
The bank was second only to the Bank of Scotland among the Scottish banks.
1918 National Bank of Scotland and Lloyds Bank Ltd, bankers of London, reached an agreement by which Lloyds acquired the entire capital of National Bank of Scotland but the 2 banks continued to trade separately.
1959 Lloyds Bank approached the Commercial Bank of Scotland, which was seeking amalgamation with a larger partner, offering to surrender its ownership of National Bank of Scotland for a stake in a new, merged bank. The proposal was readily accepted and resulted in the formation of National Commercial Bank of Scotland later that year.
See Also
Sources of Information
- [1] RBS Heritage