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 substantially through the 19th and early 20th centuries, until 1959, when it merged with the National Bank of Scotland to become the National Commercial Bank of Scotland. Ten years later the National Commercial Bank merged with the Royal Bank of Scotland.

The Commercial Banking Company of Scotland was established as a joint-stock enterprise, with 16 directors, the most notable being the lawyer Henry Cockburn. Rapid growth saw the bank acquire the Caithness Banking Company in 1825 and the Arbroath Banking Company in 1844. By 1840 there were 45 branches across Scotland, and in 1847 a new headquarters building was opened in George Street, Edinburgh. Designed by architect David Rhind, the building now houses The Dome. A London office followed in 1883. David Rhind was succeeded as the bank's regular architect by Sydney Mitchell, in 1884.^[1]

Growth continued into the 20th century, when the bank became the second-largest in Scotland, in terms of its liabilities and deposits, the largest being the Bank of Scotland. At the time of the merger with the National Bank, the Commercial Bank had 292 operating branches in Scotland and England. Throughout its history, the Commercial Bank issued its own banknotes.

References

1. ^ "Arthur George Sydney Mitchell". Dictionary of Scottish Architects. http://www.scottisharchitects.org.uk/architect_full.php?id=200197. Retrieved 2009-11-22. 

• "Commercial Bank of Scotland Ltd, Edinburgh, 1810-1959". RBS Heritage Online. The Royal Bank of Scotland Group plc. http://heritagearchives.rbs.com/wiki/Commercial_Bank_of_Scotland_Ltd%2C_Edinburgh%2C_1810-1959. Retrieved 2010-04-16. 

External links

• Commercial Bank of Scotland, design for £20 note, British Museum
• The Commercial Bank of Scotland, bankingletters.co.uk