Bank o Scotland

Bank of Scotland plc
Banca na h-Alba

Teep	Public limited company
Industrie	Finance an Insurance
Foondit	The Governor and Company of the Bank of Scotland 17 Julie 1695 (1695-07-17) Bank of Scotland plc 17 September 2007 (2007-09-17)
Heidquarters	The Mound, Edinburgh, Scotland
Products	Financial services
Nummer o employees	20,000
Parent	Lloyds Banking Group
Diveesions	Halifax Birmingham Midshires Intelligent Finance Clerical Medical
Wabsteid	www.bankofscotland.co.uk

Ee Bank o Scotlan (Inglis: Bank of Scotland; Scots Gaelic: Banca na h-Alba) is a commercial an clearin bank based in Edinburgh, Scotlan. Ee bank is a pairt o ee Lloyds Bankin Group. It wis establishit bi ee auld Scottish Parliment in 1695 tae develop Scotlan's trade wae ither countries, aun aimed tae create a stable bankin sisteme in ee countrie. It wis ee first bank tae be establishit in Scotlan, aun is ee auldest operational bank in ee countrie, as weill as ee ninth (9th) auldest bank in continuous operatioun globally. Ee Bank o Scotlan is ee langest continuous issuer o banknotes in ee warld.

Ee bank is ee auldest bank in Scotlan aun ee fifth (5th) auldest bank in ee United Kinrik. It is ee anely commercial institutioun tae be creatit bi ee Parliment o Scotlan whan Scotlan wis an independent sovereign state, att remains in existence. It is ee first bank in Europe tae print its ain banknotes successfully. Ee Bank o Scotlan continues tae print its ain sterling banknotes unner legal arrangements att allow Scottish banks tae issue currency.

In Juin 2006, ee HBOS Group Reoganisation Act 2006 wis passed bi ee Parliament o ee United Kinrik, allowin ee bank's structure tae be simplified. Ee bank wis renamed Bank o Scotlan plc frae Ee Governor aun Company o ee bank o Scotlan oan 17^th September 2007. In 2009, HBOS wis acquired bi Lloyds TSB aun ee Bank o Scotlan hus been a subsidiary o Lloyds Bankin Group syne.

History

Establishment

Durin ee 1690s, public finances aun economic prospects o ee countrie wur largly uncertain, wae credit provin difficult tae gain aun cash bein in raltive short supplie. A group o merchants saw ee establishment o a public bank as ee solutioun tae ee financial issues facin ee countrie at ee time, wae Ee Governor aun Companie o ee Bank o Scotlan bein establishit bi an act o ee Parliament o Scotlan on 17th Julie 1695. Ee bank opened in Fabruar 1696. Altho establishit soon aifter ee bank o Ingland (1694), ee bank o Scotlan wis a gey different institutioun. wheras ee bank o Ingland wis establishit specifically tae finance defence spendin bi ee Inglish parliment, ee bank o Scotlan wis establishit bi ee Scottish Parliment tae support Scottis business, aun wis prohibitit frae lendin tae ee parliment withoot parlimentary approval.

Ee bank wis establishit bi ee Parliament of Scotlan, ee legislature o ee Kinrick o Scotland in 1695

Ee foundin act grantit ee bank a monopoly oan public bankin in Scotlan fir 21 years, permittit ee bank's directors tae raise a nominal capital o 1.2 million pound Scots (100,00 pound sterling), gave ee proprietors (shareholders) limitit liability, aun in ee final clause (repealed anely in 1920) made all foreign-born proprietors naturalised scotsmen "tae aw intents aun purposes whatsoever". John Holland wis yin o ee bank's foonders, aun its first chief accountant wis George Watson.