Little-known Scottish Bank receives massive investment injection
The Airdrie Savings Bank may well have been around for 175 years but it is a relatively small operation based in the county of Lanarkshire. However, this is a bank which may well hit the headlines in the weeks and months ahead after a group of Scottish entrepreneurs gave their backing to the operation by depositing a total of £10 million with the Bank. They will not take any shares in operation instead allowing the company to expand its lending using the deposits as backing.
Scotland has a well known and well documented history in UK banking although the demise of Royal Bank of Scotland and the takeover of Bank of Scotland has greatly reduced the influence of the Scottish banking community. It is hoped that the Scottish entrepreneurs will be able to give the Airdrie Savings Bank advice and assistance in growing the business for the future as this is an operation which has been around for nearly 200 years and has been relatively "risk free" in its financial services.
It will be interesting to see whether pressure grows on the Bank to take further risks in the future because of the additional investment. If this is the case, then the uniqueness of the Airdrie Savings Bank could well be compromised.
Share this..
Related stories
Cockney cash machines attract different opinions
"Fancy some moolah for ya skyrocket?" "Fancy some sausage and mash?"
These are just two phrases which are appearing on a number of London cashpoints in a bid to inject some humour into the UK economy and take consumer minds off the difficult financial situation. While there have been mixed reactions from the UK public regarding the local dialect cash machines, there ar...
FSA targets banks to fund budgets
The Financial Services Authority (FSA) has announced plans to increase the amount of money which the UK financial sector contributes to the FSA budget. At the same time the FSA has announced that its budget will increase by 10% to nearly £455 million in 2010/11 which is an increase of around £40 million. However, it looks as though an across-the-board increase in levies and fines may not be the...
Read MoreWill the UK banking sector ever be the same again?
While there is no doubt that the UK banking sector has been and is currently going through one of the most difficult trading periods ever known, many believe that it will soon be business as normal as and when the economy picks up. However, while business volumes may return to former levels in due course the relationship between customers and banks may well have changed forever. Customers will not...
Read MoreRBS customers experience cash machine problems
Royal Bank of Scotland (RBS) has experienced cash machine problems which have left customers unable to draw out money. Natwest, which is owned by RBS, has also been affected by the issue. Millions of RBS and Natwest customers have been unable to access cash from ATM machines after technical problems. Cashpoints, online banking and telephone banking systems have crashed, leaving customers unable...
Read MoreAre we witnessing the end of the UK building society sector?
With rumours rife about the West Bromwich building society and other smaller operators in the UK building society sector there are serious concerns that this could be the beginning of the end. This is a sector which goes back hundreds of years and until now has operated on one of the more sound financial footings in the UK economy. However, many observers hark back to the recent changes in buildin...
Read More