Manchester's first bank was the Manchester Bank of Byrom, Allen, Sedgwick and Place on Bank Street in 1771. Over the next century many new banks were founded. They built impressive buildings in the city.

The Co-operative Bank The Co-operative Bank plc is a retail and commercial bank in the United Kingdom, with its headquarters in Balloon Street, Manchester. The Co-operative Bank is the only UK high street bank with a customer-led Ethical Policy which is incorporat ...

was formed in 1872 as the Loan and Deposit Department of Manchester's

Co-operative Wholesale Society A co-operative wholesale society, or CWS, is a form of co-operative federation (that is, a co-operative in which all the members are co-operatives), in this case, the members are usually consumer cooperatives. According to co-operative economi ...

, becoming the CWS Bank four years later. However, the bank did not become a registered company until 1971.Co-operative Financial Services History
. Retrieved 18 December 2008. Its global headquarters is in Balloon Street, and the group headquarters is in the Co-operative Insurance Tower on Miller Street.

Commerce in Manchester

Manchester was cotton. In the early nineteenth century, there was some cotton manufacturing around Redhill Street in Ancoats, but as the century progressed spinning moved away from the city centre, to towns such as

Bolton Bolton (, locally ) is a large town in Greater Manchester in North West England, formerly a part of Lancashire. A former mill town, Bolton has been a production centre for textiles since Flemish weavers settled in the area in the 14th ...

and

Oldham Oldham is a large town in Greater Manchester, England, amid the Pennines and between the rivers Irk and Medlock, southeast of Rochdale and northeast of Manchester. It is the administrative centre of the Metropolitan Borough of Oldham ...

, and weaving further away towards north and east Lancashire. Manchester was where the merchants met to sell their grey cloth. Manchester merchants, bought the grey (unfinished cloth had it bleached, dyed and printed and finishes and packed. He finances the cloth until it is bought by a foreign importer. Some merchants import cotton, and have cotton mills in Bombay or Shanghai while also exporting there. They met to trade twice a week at the Royal Exchange building, on the largest trading floor in the world. Eight thousand members would have an allocated spot on the floor. Trading was a quiet matter between buyer and seller. Around the city were the

warehouses A warehouse is a building for storing goods. Warehouses are used by manufacturers, importers, exporters, wholesalers, transport businesses, customs, etc. They are usually large plain buildings in industrial parks on the outskirts of cities, town ...

that acted as showrooms and packing facilities. Near the stations were the shipping warehouses of the railway companies.

The Early Banks

*Manchester Bank of Byrom, Allen, Sedgwick and Place built on Bank Street in 1771. Demolished. *John Jones, Bankers and Tea Dealers *

Heywood's Bank Heywood's Bank was a private banking firm established and run in Manchester by members of the Heywood family of Pendleton between 1788 and 1874. Family and banking history The bank was founded in Manchester by Benjamin Heywood and his two sons, ...

King Street (1784) then St Ann's Square *Brooks Bank, Market Street (1827), Brown Street then Lombard Chambers, Brown Street. * Bank of England, King Street (1845) *Bank of Manchester, Market Street (1829) *

Manchester & Liverpool District Bank The Manchester and Liverpool District Bank was formed in 1829 and it became one of the leading provincial joint stock banks; its name was shortened to District Bank in 1924. The Bank was acquired by the National Provincial Bank in 1962 but kept ...

, Spring Gardens (1834) *Manchester & Salford Bank,

Mosley Street Mosley Street is a street in Manchester, England. It runs between its junction with Piccadilly Gardens and Market Street to St Peter's Square. Beyond St Peter's Square it becomes Lower Mosley Street. It is the location of several Grade II and G ...

(1836) *Manchester & Salford Bank, 38-42 Mosley Street: now Williams & Glyn's and thus Royal Bank of Scotland *Lancashire & Yorkshire Bank, 73,5 King Street: *William Deacons Bank, 45 Mosley Street/ York Street: now Williams & Glyn's and thus Royal Bank of Scotland *The Manchester and County (1862)

References

;Notes ;Bibliography * Buildings and structures in Manchester

Manchester Manchester () is a city in Greater Manchester, England. It had a population of 552,000 in 2021. It is bordered by the Cheshire Plain to the south, the Pennines to the north and east, and the neighbouring city of Salford to the west. The t ...

Economy of Manchester {{UK-bank-stub