The National Commercial Bank of Scotland Ltd. was a Scottish

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with ...

. It was established in 1959 through a

merger Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspec ...

of the

National Bank of Scotland The National Bank of Scotland was founded as a joint stock bank in 1825. Based in Edinburgh, it had established a network of 137 branches at the end of its first hundred years. In 1918 the bank was bought by Lloyds Bank, although it continued ...

(established in 1825) with the

Commercial Bank of Scotland The Commercial Bank of Scotland Ltd. was a Scottish commercial bank. It was founded in Edinburgh in 1810, and obtained a royal charter in 1831. It grew substantially through the 19th and early 20th centuries, until 1958, when it merged with th ...

(established in 1810). Ten years later it merged with the

Royal Bank of Scotland The Royal Bank of Scotland plc (RBS; gd, Banca Rìoghail na h-Alba) is a major retail and commercial bank in Scotland. It is one of the retail banking subsidiaries of NatWest Group, together with NatWest (in England and Wales) and Ulster B ...

, to become the largest clearing bank in Scotland. The National Commercial Bank issued its own

banknotes A banknote—also called a bill (North American English), paper money, or simply a note—is a type of negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. Banknotes were originally issued ...

. At its foundation, the National Commercial Bank of Scotland had assets of around £300 million, and had 476 branches in Scotland and England. A joint venture with asset management company

Schroders Schroders plc is a British multinational asset management company, founded in 1804. The company employs over 5,000 people worldwide in 32 locations around Europe, America, Asia, Africa and the Middle East. Headquartered in the City of London, it ...

in 1964 saw the launch of a Scottish

merchant bank A merchant bank is historically a bank dealing in commercial loans and investment. In modern British usage it is the same as an investment bank. Merchant banks were the first modern banks and evolved from medieval merchants who traded in commodi ...

ing service. The bank acquired the 36 English and Welsh branches of The National Bank Ltd., when the Irish operations of that institution were bought by the

Bank of Ireland Bank of Ireland Group plc ( ga, Banc na hÉireann) is a commercial bank operation in Ireland and one of the traditional Big Four Irish banks. Historically the premier banking organisation in Ireland, the Bank occupies a unique position in Iris ...

in 1966. The National Commercial Bank also established a "ladies branch" for female customers, staffed entirely by women. By 1969 economic conditions were becoming more difficult for the banking sector. In response, the National Commercial Bank merged with the Royal Bank of Scotland. The resulting company had 662 branches. The merger resulted in a new

holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...

, National & Commercial Banking Group Ltd. The English and Welsh branches were reorganised as

Williams & Glyn's Bank Williams & Glyn's Bank Limited was established in London in 1970, when the Royal Bank of Scotland merged its two subsidiaries in England and Wales, Williams Deacon's Bank Ltd. and Glyn, Mills & Co. In 1985, Williams & Glyn's was fully absorb ...

, while the Scottish branches transferred to the Royal Bank name. The holding company was renamed Royal Bank of Scotland Group in 1979 and

NatWest Group NatWest Group plc is a British banking and insurance holding company, based in Edinburgh, Scotland. The group operates a wide variety of banking brands offering personal and business banking, private banking, investment banking, insurance and ...

in 2020.

References

{{Royal Bank of Scotland Group Royal Bank of Scotland Defunct banks of Scotland Banks established in 1959 Companies based in Edinburgh