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Founded by an Act of the old Scots Parliament, it was Scotland’s very first bank. Its early history was difficult, reflecting the turbulent economic conditions of the period. But its business and influence grew, and ‘the old Bank’ went on to become the pre-eminent institution of its kind in Scotland, a position it retained right up until the early years of the 21st century.
Bank of Scotland also pioneered some of the key banking services we take for granted today. In 1696, it issued its first banknotes and was the first bank in Europe to successfully issue a paper currency. The records of the Bank of Scotland 1695-2001 are a major documentary source for the economic and social history of Scotland since the late 17th century.