National Bank of Scotland

Based in Edinburgh, it had established a network of 137 branches at the end of its first hundred years.

In March 1825 the National Bank was formally constituted with a nominal capital of £5 million under the chairmanship of the Lord Provost, Alexander Henderson of Press.

The bank finally opened for business in the October and immediately began to issue its own notes.

[2] A Bank of Glasgow company was also formed in 1843 and was acquired by the National in 1844[3] but the evidence from Checkland was that no physical presence had been established and it was no more than a paper transaction prior to a pooling of resources.

[2] The banking industry was (and still appears to be) continually afflicted by crises but there is no indication in the histories of anything other than stable financial progress.