The advent of computerisation in the s heralded an era of rapid change and innovation. The business of the Halifax was transformed - accounts were handled electronically and filing systems automated. A state of the art head office was built at Trinity Road in Branches were modernised and revolutionary cash dispensers installed.
In , new legislation allowed building societies to increase their range of financial services. The Halifax steadily diversified into personal banking, stock broking, insurance and estate agency. The s saw a period of mergers and acquisitions. The most notable of these were the merger with the Leeds Permanent Building Society , and the acquisition of Clerical Medical the following year.
February marked a turning point in the history of the Halifax. Its members voted overwhelmingly in favour of conversion to plc status.
The subsequent flotation on 2nd June was the largest the Stock Market had seen; some 7. A further acquisition was made in with Birmingham Midshires. Bank of Scotland was founded in , by an Act of the Scottish Parliament - making it Scotland's first and oldest bank. It charts the history of banking in Scotland, and explores the theme of money in all its shapes and forms.
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UK bailout. Hollywood duo Steven Cahill and Glenn Kiser hope that just like in the US, Indian filmmakers will give sound designing its due importance here. The subscription-video company is turning its attention back to bulking up movie library for adults. More details on the channels, including launch dates, will be released later, the companies said in a statement.
Lloyds Banking Group Plc will shrink assets further and faster than forecast, as Britain's biggest mortgage lender reduces its reliance on short-term funding. Lloyds Banking Group Plc, 41 percent-owned by British taxpayers and cutting 15, jobs, is selling unsecured bonds into a market that has been closed to all but the safest lenders since July.
Lloyds Banking Group PLC, Britain's largest retail bank, said on Thursday it is cutting full-time positions in its motor finance business. Australia's largest bank, Commonwealth Bank of Australia Ltd. Thousands of jobs are feared to be at risk after banking major Lloyds TSB completes its For this reason, Scott's portrait appears on Bank of Scotland notes today.
Under the terms of its founding Act, the Bank had been granted a banking monopoly in Scotland for 21 years. After this expired, a new bank was founded by royal charter, in - the Royal Bank of Scotland. There followed a generation of intense rivalry as the two banks competed to drive the other out of business.
All the Bank's papers and valuables were transferred to Edinburgh Castle for safe-keeping. There they remained for two months, until the rebel army finally departed. Early attempts to establish a branch network proved unsuccessful. It was not until that the first. Twenty-one years later, the Bank had 27 branches. This had risen to 43 by , and by Bank of Scotland opened its first permanent office in London in During the latter half of the 18th and the early 19th centuries, significant changes to Scotland's banking system occurred.
The focus of economic development shifted away from Edinburgh, to Glasgow and the West. Large-scale joint-stock banks also sprang up. These presented serious competition for Bank of Scotland, particularly as most of the newcomers had large branch networks. But the increased numbers of banks, some of which pursued reckless lending policies, led to occasional failure.
In , the Western Bank collapsed. Bank of Scotland, along with the other major Scottish players, stepped in to bolster confidence in the banking system. They ensured that all holders of the Western Bank's notes were paid in full.
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