Airdrie Savings Bank Totally Explained

Everything about Airdrie Savings Bank totally explained

Airdrie Savings Bank is a small commercial bank operation in the Lanarkshire and Glasgow areas of Scotland. It runs 8 branches throughout this area, with its head office in Airdrie, North Lanarkshire. Total assets of the bank at 31 October 2006 were £126 million with reported profits of £0.555 million.

History

Airdrie Savings Bank was formed as part of a movement to bring banking services to the wider community in 1835. A board of trustees from the local community act as board of governors. Similar banks were set up throughout the United Kingdom. Eventually most of these were brought under the umbrella of the Trustee Savings Bank, which was subsequently floated on the London Stock Exchange. Airdrie was the only Savings Bank not to join this scheme and remains an independent entity.

Corporate Structure

Airdrie Savings Bank is the only remaining Savings Bank in the UK. It has no shareholders and is instead governed by a Board of Trustees, appointed to represent the interests of depositors and to ensure that the Bank is managed properly.

Further Information

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