The Central Bank of London was a British commercial bank, based in London, England.[1] The bank operated between 1863 and 1891 when it was acquired the Birmingham and Midland Bank.[2]
History
Formation and Operations
The bank was established in 1863 as the 'East London Bank', with its offices located in Cornhill in the City of London. Its early business was closely related to the East End trades, and so branches were soon opened at Southwark, Shoreditch and Whitechapel.[3]
Deposits had reached £495,000 by 1865, and by 1870 the bank was renamed the 'Central Bank of London'. In the mid 1870s further branches opened in Mile End, Blackfriars, Tottenham Court Road, Newgate Street and Clerkenwell.[3] Deposits grew to £1 million in 1877 and further branches were opened at Shaftesbury Avenue and Bethnal Green during the 1880s.[3]
References
- Forrest Capie, Alan Webber. A Monetary History of the United Kingdom: 1870-1982 Routledge, 2013^
- HSBC UK (Midland Bank) Archive HSBC History, retrieved January 30, 2023^
- John Orbell. British Banking: A Guide to Historical Records Routledge, 2017-07-05^