Montrose Banking Co

Montrose Banking Company (1814-28) was a past constituent of The Royal Bank of Scotland.

Brief history

Montrose Banking Co was established in Montrose in 1814, following the reopening for trade of the ports of Russia and North Germany. The bank had 82 partners and a capital of £100,000 divided into 250 shares of £400 each. Branches were opened in Arbroath and Brechin by 1816 and bankers Thomas Kinnear & Son were appointed as Edinburgh agents. The bank’s customers were tenant farmers and those involved in such local trades as rope, sail and cabinet making, shipbuilding, fishing and brewing.

In 1828 the bank was acquired by National Bank of Scotland. The business of winding up the bank’s affairs took many years.

Published history

  • CW Munn, The Scottish Provincial Banking Companies 1747-1864 (Edinburgh: John Donald, 1981)

Summary of archive holdings elsewhere

  • Lloyds Banking Group Archives: Letterbook 1814-6; record of banknotes issued 1814-9; minute book, incl balance sheets 1814-22; stock ledger 1814-28