The Bank of Wales (Welsh: Banc Cymru) was a commercial bank in Wales which was founded in 1971. The bank was taken over by the Bank of Scotland plc in 1986 and ceased trading under the Welsh brand in 2002. It is now a trading name used by Bank of Scotland plc, a subsidiary of Lloyds Banking Group. The Bank of Wales was founded by Sir Julian Hodge in 1971. The company provided commercial banking services to small and medium-sized businesses in Wales. From the outset Sir Julian Hodge wanted the company to be called the Bank of Wales, but the compromise title Commercial Bank of Wales (Welsh: Banc Masnachol Cymru) was adopted following objections from the Registrar of Companies and the Bank of England, which claimed that the proposed name would imply a central bank. The company was eventually officially renamed Bank of Wales in December 1986. By the year 2000 it had seven regional offices and assets of over £460 million. More information...
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