Its management was becoming increasingly aware of the acute need to find a suitable trading partner. In 1928 it pioneered a scheme to attract small savers by offering favourable interest rates on tiny deposits.ĭespite its success and large number of branches, Commercial Bank's capital resources were modest, and its interests undiversified. The bank continued to thrive during the early 20th century, increasing its number of branches from 138 in 1900 to 240 in 1920.ĭuring the inter-war period it became the second largest bank in Scotland in terms of liabilities, deposits and advances.

In 1883, following the example of other Scottish banks, Commercial Bank opened an office in London. The new building opened in 1847.īy 1860 the bank had 56 branches the second largest network of any Scottish bank. In 1843 the bank acquired property in George Street, Edinburgh, where it erected a purpose-built head office to designs by architect David Rhind. It relied heavily on its London agents, initially Bruce Simson & Co and from 1864 London & Westminster Bank.īy 1840 the bank had 45 branches, and in 1844 it took over Arbroath Banking Co. The bank grew rapidly, acquiring Caithness Banking Co in 1825 and securing a royal charter in 1831. It also immediately began to establish branches over a wide geographical area, and by 1815 had 14 branches. By the end of its first year of trading it had £262,000 notes in circulation. As a joint-stock bank with substantial capitalisation (authorised capital £3m, of which £450,000 was initially called up) and large shareholding (673 shareholders by 1815) it presented a considerable challenge to the existing public banks.įrom the outset it issued its own banknotes. It had 16 directors, including Henry Cockburn, Forrest Alexander and James Wyld. Commercial Banking Co of Scotland was founded in 1810 as a co-partnership to provide banking facilities to commercial, industrial and agricultural businessmen of modest means.

Lloyds tsb falkirk address