Everything about The Clydesdale Bank totally explained
The
Clydesdale Bank PLC is a
commercial bank in the
Scotland, a subsidiary of the
National Australia Bank (NAB) Group. In
Scotland, the Clydesdale Bank is the third largest
clearing bank, although it also retains a branch network in
London and the north of
England. In 2001, the
Yorkshire Bank (previously the NABG's subsidiary in England) became a part of the Clydesdale Bank, although it continues to trade under its own name.
The Clydesdale Bank continues to print banknotes in Scotland.
History
The Clydesdale Bank was founded in
Glasgow in
1838. The Clydesdale later expanded throughout Scotland, and later became the first Scottish bank to open branches in the north of England. In
1919 the
Midland Bank acquired the Clydesdale Bank. In
1950 the Midland Bank merged the Clydesdale with the
North of Scotland Bank which it acquired in
1926.
The Midland Bank later sold its UK subsidiaries, including the Clydesdale Bank, to NAB in
1987. The bank became part of NAB's UK and
Irish subsidiaries including
Northern Bank in
Northern Ireland;
National Irish Bank in
Ireland. In
1990 the
Yorkshire Bank also became part of the group.
In
2001, the NAB Group transferred the assets and liabilities of the Yorkshire Bank to the Clydesdale Bank as part of a reorganisation of its British businesses by amalgamating two banking licences into one. The
National Australia Group Europe Act 2001 was a private Act of Parliament passed to facilitate the transfer. Yorkshire Bank is now a trading name of the Clydesdale Bank in England.
In 2005 NAB sold Northern Bank and National Irish Bank to the Danish
Danske Bank.
In July 2007 Clydesdale Bank became the main sponsor of the
Scottish Premier League in a £8m four-year agreement.
Banknotes
Commonwealth Games
In March 2005, Clydesdale Bank became one of the official partners of the
Scottish Commonwealth Games Team, at the
2006 Commonwealth Games in
Melbourne,
Australia. This sponsorship builds on the relationship formed by its parent, NAB Group, who are one of the Games' main sponsors as well as a key partner with the Australian team, whilst the sister company,
Bank of New Zealand, has joined forces to support its national team.The bank also releasd a series of Ten Pound (£10) notes with a Commonwealth Games related theme for the occasion. The bank is a major sponsor of the Glasgow 2014 Commonwealth Games.
Further Information
Get more info on 'Clydesdale Bank'.
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