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Glasgow University Archive Services, GUM

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Advertisement of the coming merger of the Union Bank of Scotland and the Bank of Scotland in Glasgow University Magazine, January 1955.

The Bank of Scotland, Scotland's first bank, was established by Act of Parliament on 17 July 1695. The Union Bank of Scotland was the product of amalgamations which took place between 1836 and 1849, when the Glasgow Union Banking Co acquired a number of private banks based in the West of Scotland. These included some highly respected institutions, including the Glasgow & Ship Bank (established 1750), and the Thistle Bank (established 1761). Following a merger with the Edinburgh bank Sir William Forbes, Hunter & Co, the Union Bank opened a second head office in the capital, thus becoming the first Scottish bank to have two principal offices.

By the mid-19th century the Union Bank had become one of the biggest of the Scottish banks, but it failed to grow as rapidly as its competitors and in the 20th century did not follow the Scottish trend of affiliating with a large English bank. It was marooned as one of the smallest of the unaffiliated Scottish banks until it merged with the Bank of Scotland in 1955.

Reference: Glasgow University Archive Services, DC198/

Glasgow University Archive Services

advertisements, Bank of Scotland, bankers, banking, banks, Glasgow and Ship Bank, Glasgow Union Banking Company, Glasgow University Magazine, GUM, mergers, Sir William Forbes, Hunter & Co, Thistle Bank, Union Bank, Union Bank of Scotland, University of Glasgow

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