Sign showing National Provincial Bank England, formerly county of Stafford Bank (NatWest), Queen Square, Wolverhampton,England, WV1 1TL
National Provincial Bank was a British retail bank which operated in England and Wales from 1833 until 1970 when it was merged into the National Westminster Bank. It continued to exist as a dormant non-trading company until 2016 when it was voluntarily struck off the register and dissolved.[1] Considered one of the "Big Five," the National Provincial Bank expanded during the 19th and 20th centuries and took over a number of smaller banking companies. For most of its history it was based on Bishopsgate, at the thoroughfare's junction with Threadneedle Street, in London The National Provincial Bank played a unique role in the development of commercial banking. Prior to the Act of 1826, English banks were permitted to have no more than six partners – hence the expression "private banks". The only banks allowed to be joint stock were the Bank of England and the Scottish banks (which operated under a different legal system). The leading campaigner for change was Thomas Joplin a Newcastle timber merchant "with local experience of banking disasters" and an observer of the greater stability of the nearby Scottish banks. The Act of 1826 permitted the establishment of joint stock banks but note issue was only allowed outside a radius of 65 miles of London.[3] The 1826 Act was followed by the creation of new provincial joint stock banks and conversions from existing private banks. Because of the prohibition on note issue in the London area, it was incorrectly assumed that the Act also prohibited joint stock banks themselves, an ambiguity that was removed by the Bank Charter Act 1833
Size: 3648px × 4672px
Location: Queen Square, Wolverhampton,England, UK, WV1 1TL
Photo credit: © Tony Smith / Alamy / Afripics
License: Licensed
Model Released: No
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