Definitions

Clydesdale Bank

Clydesdale Bank

The Clydesdale Bank PLC is a commercial bank in 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 issue its own banknotes for use 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 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 a £8m four-year agreement.

Banknotes

Under the Bank Charter Act 1845, the Clydesdale Bank (along with the Bank of Scotland and the Royal Bank of Scotland) may issue their own banknotes. The current notes issued are:

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).

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.

See also

External links

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