Company type | Trading name |
---|---|
Industry | Banking, Financial services |
Founded | 2 March 1838 May 1838 (official opening) |
Headquarters | Glasgow, Scotland , UK |
Key people | James Pettigrew (Chairman) David Duffy (Chief Executive Officer) |
Services | Retail banking SME banking |
Revenue | See Parent company |
See Parent company | |
See Parent company | |
Total assets | See Parent company |
Number of employees | See Parent company |
Parent | Clydesdale Bank plc |
Website | www |
Clydesdale Bank (Scottish Gaelic : Banca Dhail Chluaidh) [1] is a trading name used by Clydesdale Bank plc for its retail banking operations in Scotland.
In June 2018, it was announced that Clydesdale Bank plc's holding company, CYBG, would acquire Virgin Money for £1.7 billion in an all-stock deal, and that Clydesdale Bank plc's Clydesdale Bank, Yorkshire Bank and B brands would be phased out in favour of Virgin Money's brand, including the renaming of parent company CYBG plc to Virgin Money UK plc. Clydesdale Bank, along with Virgin Money and Yorkshire Bank (B's rebrand to Virgin Money was completed in 2019), currently operate as trading divisions of Clydesdale Bank plc under its banking licence.
Following the announcement of the CYBG's takeover of Virgin Money in 2018 and planned phasing-out of the Clydesdale Bank brand by 2021 in favour of Virgin Money, it was announced that Virgin Money would continue to issue banknotes under the Clydesdale brand after 2021. [2]
Until prevented by the Bank Charter Act 1844, privately owned banks in Great Britain and Ireland were permitted to issue their own banknotes, and money issued by provincial Scottish, [3] English, Welsh and Irish banking companies circulated freely as a means of payment. [4] While the Bank of England eventually gained a monopoly for issuing banknotes in England and Wales, banks in Scotland and Northern Ireland retained the right to issue their own banknotes and continue to do so to this day. In Scotland, Clydesdale Bank, the Royal Bank of Scotland and Bank of Scotland still print their own banknotes.
The current designs were released in autumn 2009. [5] The obverse designs feature famous Scots while the reverse designs feature Scotland's UNESCO World Heritage Sites.
Image | Value | Main Colour | Design | |||
---|---|---|---|---|---|---|
Obverse | Reverse | Obverse | Reverse | |||
£5 | Blue | Sir Alexander Fleming | St Kilda | |||
£10 | Brown | Robert Burns | Edinburgh Old and New Towns | |||
£20 | Purple | King Robert the Bruce | New Lanark | |||
£50 | Green | Elsie Inglis | The Antonine Wall | |||
£100 | Red | Charles Rennie Mackintosh | Neolithic Orkney |
The previous series of Clydesdale notes each depicted a notable person from Scottish history: [6]
An image of Adam Smith also features on the £20 note issued in 2007 by the Bank of England, granting Smith the unique status of being the only person to feature on banknotes issued by two different British banks, and the first Scot to appear on a Bank of England banknote. [7]
The Clydesdale Bank ceased issuing £1 notes in the late 1980s. These latterly had an image of Robert the Bruce, whilst the contemporaneous £20 notes had an image of Lord Kelvin.
The £10 notes issued from 1971 bore an image of Scottish explorer David Livingstone with palm tree leaves and an illustration of African tribesmen on the back. [8] A later issue showed Livingstone against a background graphic of a map of his Zambezi expedition, showing the River Zambezi, Victoria Falls, Lake Nyasa and Blantyre, Malawi; on the reverse, the African figures were replaced with an image of Livingstone's birthplace in Blantyre. [9]
Occasionally the Clydesdale Bank issues special commemorative banknotes to mark particular occasions or to celebrate famous people. These notes are much sought-after by collectors and they rarely remain long in circulation. Examples to date have included: [10] [11]
In March 2015, the Clydesdale Bank became the first bank in Great Britain to issue polymer banknotes. The £5 commemorative notes, issued to commemorate the 125th anniversary of the construction of the Forth Bridge, are printed by De La Rue and are the first in Europe to use the company's "Safeguard" polymer substrate security feature. The notes also use the "Spark Orbital" security feature which depicts a reflective map of Scotland over a transparent "window" in the banknote. [14] [15]
Although the Clydesdale's 2015 issue are the first plastic banknotes issued within Great Britain, these are not the first polymer banknotes to be issued in the United Kingdom — in 1999, the Northern Bank (now Danske Bank) issued a series of polymer £5 notes depicting the US Space Shuttle. The Bank of England issued a polymer £5 note for the first time in September 2016. [16]
In March 2005, Clydesdale Bank became one of the official partners of the Scottish Commonwealth Games Team, at the 2006 Commonwealth Games in Melbourne, Australia. This sponsorship builds on the relationship formed by its parent, NAB Group, who are one of the Games' main sponsors as well as a key partner with the Australian team, whilst the sister company, Bank of New Zealand, has joined forces to support its national team. The bank also released a series of Ten Pound (£10) notes with a Commonwealth Games related theme for the occasion.
The pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, British Antarctic Territory, South Georgia and the South Sandwich Islands, and Tristan da Cunha.
The Bank of Scotland plc 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. The bank is the ninth oldest bank in continuous operation.
Polymer banknotes are banknotes made from a synthetic polymer such as biaxially oriented polypropylene (BOPP). Such notes incorporate many security features not available in paper banknotes, including the use of metameric inks. Polymer banknotes last significantly longer than paper notes, causing a decrease in environmental impact and a reduced cost of production and replacement. Modern polymer banknotes were first developed by the Reserve Bank of Australia (RBA), Commonwealth Scientific and Industrial Research Organisation (CSIRO) and The University of Melbourne. They were first issued as currency in Australia during 1988 ; by 1996, the Australian dollar was switched completely to polymer banknotes. Romania was the first country in Europe to issue a plastic note in 1999 and became the third country after Australia and New Zealand to fully convert to polymer by 2003.
Clydesdale Bank plc is a retail and commercial bank based in Scotland and now owned by Virgin Money UK. It was formed in Glasgow, Scotland, in 1838 and since 2019 mainly trades as Virgin Money.
Banknotes have been issued for use specifically in Northern Ireland since 1929, and are denominated in pounds sterling. They are legal currencies, but technically not legal tender anywhere. This is not uncommon as most bank notes are not recognised as tender. However, the banknotes are still widely accepted as currency by larger merchants and institutions elsewhere in the United Kingdom. Issuing banks have been granted legal rights to issue currency, and back the notes with deposits at the Bank of England.
Virgin Money UK plc is a British banking and financial services company. It has been owned by Nationwide Building Society since 1 October 2024.
The notes of the Australian dollar were first issued by the Reserve Bank of Australia on 14 February 1966, when Australia changed to decimal currency and replaced the pound with the dollar. This currency was a lot easier for calculating compared to the previous Australian pound worth 20 shillings or 240 pence.
Banknotes of Scotland are the banknotes of the pound sterling that are issued by three Scottish retail banks and in circulation in Scotland. The Bank of Scotland, the oldest bank operating in the country, was the first bank in Europe to successfully print its own banknotes in 1695. The issuing of banknotes by retail banks in Scotland is subject to the Banking Act 2009, which repealed all earlier legislation under which banknote issuance was regulated, and the Scottish and Northern Ireland Banknote Regulations 2009. Currently, three retail banks are allowed to print notes for circulation in Scotland: Bank of Scotland, Royal Bank of Scotland, and Clydesdale Bank.
The Bank of Scotland £5 note, also known informally as a fiver, is a sterling banknote. It is the smallest denomination of banknote issued by the Bank of Scotland. The current polymer note, first issued in October 2016, bears the image of Sir Walter Scott on the obverse and a vignette of the Brig o' Doon on the reverse. The polymer replaces a cotton note also featuring a portrait of Sir Walter Scott.
The Bank of Scotland £10 note, also known informally as a tenner, is a sterling banknote. It is the second smallest denomination of banknote issued by the Bank of Scotland. The current polymer note, first issued in 2017, bears the image of Sir Walter Scott on the obverse and a vignette of the Glenfinnan Viaduct on the reverse.
The Royal Bank of Scotland £5 note, also known as a fiver, is a sterling banknote. It is the second smallest denomination of banknote issued by The Royal Bank of Scotland. The current polymer note, first issued in 2016, bears an image of author Nan Shepherd on the obverse and a pair of mackerel on the reverse.
The Royal Bank of Scotland £10 note, also known as a tenner, is a sterling banknote. It is the third smallest denomination of banknote issued by The Royal Bank of Scotland. The current polymer note, first issued in 2017, bears a portrait of scientist Mary Somerville on the front and a pair of otters on the reverse.
The Royal Bank of Scotland £20 note is a sterling banknote. It is the third largest denomination of banknote issued by The Royal Bank of Scotland. The current polymer note, first issued in 2020, bears the image of Catherine Cranston on the obverse and a vignette depicting a pair of Red Squirrels on the reverse.
The Royal Bank of Scotland £1 note is a sterling banknote. The current cotton note, first issued in 1987, bears an image of Lord Ilay, one of the founders of the bank, on the obverse, and a vignette of Edinburgh Castle on the reverse.
The Clydesdale Bank £5 note, also known informally as a fiver, is a sterling banknote. It is the smallest denomination of banknote issued by Clydesdale Bank. The current polymer note, first issued in 2015, bears an image of engineer William Arrol on the obverse and an image of the Forth Bridge on the reverse. It was the first fully polymer banknote to go into circulation in the United Kingdom.
The Clydesdale Bank £10 note, also known informally as a tenner, is a sterling banknote. It is the second smallest denomination of banknote issued by Clydesdale Bank. The current polymer note, first issued in 2017, bears an image of Scottish poet Robert Burns on the obverse and a vignette of the Old and New Towns of Edinburgh on the reverse.
The Clydesdale Bank £20 note is a sterling banknote. It is the third largest denomination of banknote issued by Clydesdale Bank. The current polymer note, first issued in 2020, bears a portrait of the Scottish king Robert the Bruce on the obverse and an image of the islands of St Kilda on the reverse.
The Clydesdale Bank £50 note was a sterling banknote. Until its withdrawal it was the second largest denomination of banknote issued by the Clydesdale Bank. The last cotton note, first issued in 2009 bears a portrait of Elsie Inglis, founder of the Scottish Women's Hospitals, on the obverse and an image of the Antonine Wall on the reverse.
The Clydesdale Bank £100 note is a sterling banknote. It is the largest denomination of banknote issued by Clydesdale Bank. The current cotton note, first issued in 2009 bears a portrait of the designer and artist Charles Rennie Mackintosh on the obverse and images of the Heart of Neolithic Orkney on the reverse.
The Bank of Ireland £5 note is a sterling banknote. It is the smallest denomination of banknote issued by the Bank of Ireland.