Banks Established in 1859 - Yorkshire Bank, Fokus Bank, Banque Canadienne Nationale, Cr Dit Industriel Et Commercial, Union Dime Savings Bank (Paperback)

Chapters: Yorkshire Bank, Fokus Bank, Banque Canadienne Nationale, Cr dit Industriel et Commercial, Union Dime Savings Bank. Source: Wikipedia. Pages: 20. Not illustrated. Free updates online. Purchase includes a free trial membership in the publisher's book club where you can select from more than a million books without charge. Excerpt: Yorkshire Bank is a commercial bank in England and Wales, a division of Clydesdale Bank, which in turn is a subsidiary of National Australia Bank. It mostly operates in the North of England, especially in Yorkshire. In 2006 underlying profit rose 16.7 per cent to 454 million compared with a year earlier, while post-tax earnings climbed 12.8 per cent to 229 million. Total income was up 8.7 per cent at 1,193 million while net interest income climbed 14.6 per cent to 769 million. The Yorkshire Bank Headquarters in LeedsThe bank was established on 1 May 1859 by Colonel Edward Akroyd of Halifax. Based in Leeds it was known as the West Riding Penny Savings Bank. It had originally been planned as a provident society but the status of savings bank was eventually chosen. The bank was registered under the Friendly Societies Act and individual deposits were restricted to 30 per annum, up to a cumulative balance of 150. Within a year the bank had opened 24 branches, and a further 104 in the year after. Sub-branches were opened in schools and church halls. The bank was operated on a non-profit making basis and in 1860 it was decided to extend operation to the other Ridings of Yorkshire. To recognise this the name was changed to the Yorkshire Penny Bank. In 1872 it issued cheque books for the first time, primarily for small tradesmen. At that time the bank became the first to create school banks, to encourage the idea of saving at an early age. In 1911 depositors' balances were valued at 18 million although reserves were only 500,000 and that existing guarantees were not enough. The Bank of Engla...More: http: //booksllc.net/?id=671036