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The Bank of Scotland plc (Scottish Gaelic: Banca na h-Alba) is a commercial and clearing bank based in Edinburgh, Scotland, and is part of the Lloyds Banking Group.The bank was established by the Parliament of Scotland in 1695 to develop Scotland's trade with other countries, and aimed to create a stable banking system in the United Kingdom . [2]
Lloyds Bank was founded in 1765 but the wider Group's heritage extends over 320 years, dating back to the founding of the Bank of Scotland by the Parliament of Scotland in 1695. [ 5 ] The Group's headquarters are located at 25 Gresham Street in the City of London , while its registered office is on The Mound in Edinburgh .
In 1975, Bank of Scotland opened its first overseas office in Houston, Texas.Branches followed in other U.S. states, Moscow, Hong Kong and Singapore.Inroads were subsequently made into Australasia, with the 1987 purchase of Countrywide Bank in New Zealand (sold to the National Bank of New Zealand in 1998) and that of the Bank of Western Australia in 1995 (sold to the Commonwealth Bank in 2008).
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Between 1988 and its 2014 initial public offering, Citizens was a wholly owned subsidiary of Royal Bank of Scotland. [3] The group sold its last 20.9% stake in the company in October 2015. [ 4 ]
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In 2006, HBOS secured the passing of the HBOS Group Reorganisation Act 2006 (c. i), a local act of Parliament that rationalised the bank's corporate structure. [6] The act allowed HBOS to make the Governor and Company of the Bank of Scotland a public limited company, Bank of Scotland plc, which became the principal banking subsidiary of HBOS.
The Royal Bank of Scotland plc (Scottish Gaelic: Banca Rìoghail na h-Alba) [2] 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 Bank. The Royal Bank of Scotland has around 700 branches, mainly in Scotland, though there are ...