The Bank of Scotland was
founded by an Act of the Scottish Parliament, making it the first bank to be
established in Scotland. It was set up to help develop Scotland's trade,
mainly with England and the Low Countries. The 172 original shareholders
(including 36 based in London) came mainly from Scotland's political and
merchant elite.
As Scotland’s oldest bank,
Bank of Scotland have been helping generations of Scots look after their
money since 1695. Bank of Scotland was the first bank in Europe to
successfully issue paper currency, in 1696. This makes its banknotes the
longest continuous issue in the world.
The Bank later expanded into
the Australian market by acquiring the Perth-based Bank of Western Australia
in 1995.
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