Clydesdale Bank


Clydesdale Bank
Clydesdale Bank plc
Banca Dhail Chluaidh
Type Subsidiary
Industry Finance and Insurance
Founded 1838
Headquarters St Vincent Place, Glasgow, Scotland
Key people Sir Malcolm Williamson Chairman
David Thorburn Chief Operating Officer
Products Financial Services
Revenue £17, 500 million (2007)
Operating income £194 million (pre annual 2008)
Net income £139 million (pre annual 2008)
Employees c 4, 035 (2008)
Parent National Australia Bank Group
Website cbonline.co.uk

Clydesdale Bank (Scottish Gaelic: Banca Dhail Chluaidh) is a commercial bank in Scotland, a subsidiary of the National Australia Bank (NAB) Group. In Scotland, Clydesdale Bank is the third largest clearing bank, although it also retains a branch network in London and the north of England. In 2001, Yorkshire Bank (previously the NABG's subsidiary in England) became a part of Clydesdale Bank, although it continues to trade under its own name.

Clydesdale Bank is one of three Scottish commercial banks which have the right to issue their own banknotes.

Contents

History

The headquarters of Clydesdale Bank in St Vincent Place, Glasgow

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 and National Irish Bank (N.I.B.) in the Republic of Ireland. In 1990 the Yorkshire Bank also became part of the group.

In the 1970s the Clydesdale Bank became a pioneer in the use of automated banking, including the widespread introduction of "AutoBank" ATMs and keypads at branch counters. A new corporate identity (with a new "CB" logo and a mustard-yellow colour scheme) was also introduced.

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 an £8 million four-year agreement.

Banknotes

Banknote history

Up until the middle of the nineteenth century, privately owned banks in Great Britain and Ireland were permitted to issue their own banknotes, and money issued by provincial Scottish,[1] English, Welsh and Irish banking companies circulated freely as a means of payment.[2] While the Bank of England eventually gained a monopoly for issuing banknotes in England and Wales, banks in Scotland and Northern Ireland retained the right to issue their own banknotes and continue to do so to this day. In Scotland, Clydesdale Bank, along with Royal Bank of Scotland and Bank of Scotland, still prints its own banknotes.

2009 issue

The current designs were released in autumn 2009.[3] The obverse designs feature famous Scots while the reverse designs feature Scotland's UNESCO World Heritage Sites.

Image Value Main Colour Design
Obverse Reverse Obverse Reverse
£5 Blue Sir Alexander Fleming St Kilda
£10 Yellow-Brown Robert Burns Edinburgh Old and New Towns
£20 Purple King Robert the Bruce New Lanark
£50 Green Elsie Inglis The Antonine Wall
£100 Red Charles Rennie Mackintosh Neolithic Orkney

Previous issue

The previous series of Clydesdale notes each depicted a notable person from Scottish history:[4]

An image of Adam Smith also features on the £20 note issued in 2007 by the Bank of England, granting Smith the unique status of being the only person to feature on banknotes issued by two different British banks, and the first Scot to appear on a Bank of England banknote.[5]

Older issues

The Clydesdale Bank ceased issuing £1 notes in the late 1980s. These latterly had an image of Robert the Bruce, whilst the contemporaneous £20 notes had an image of Lord Kelvin.

The £10 notes issued from 1971 bore an image of Scottish explorer David Livingstone with palm tree leaves and an illustration of African tribesmen on the back.[6] A later issue showed Livingstone against a background graphic of a map of Livinstone's Zambezi expedition, showing the River Zambezi, Victoria Falls, Lake Nyasa and Blantyre, Malawi; on the reverse, the African figures were replaced with an image of Livingstone's birthplace in Blantyre.[7]

Commemorative banknotes

Occasionally the Clydesdale Bank issues special commemorative banknotes to mark particular occasions or to celebrate famous people. These notes are much sought-after by collectors and they rarely remain long in circulation. Examples to date have included:[8][9]

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 released 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.

See also

  • British banknotes

References

External links


Wikimedia Foundation. 2010.

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