Foreign Credit Facilities in the United Kingdom: A Sketch of Post-War Development and Present Status

By Leland Rex Robinson | Go to book overview

CHAPTER VI THE BRITISH OVERSEAS BANK
AMONG the institutions recently created for extending foreign credit facilities the British Overseas Bank has an important place. In its organization several banks have committed themselves to the cooperative principle in developing their overseas services, and from the beginning (June, 1919) it has had the backing of constituent groups. In several respects it may be compared with the Edge Law bank, which, like it, is designed to specialize in certain foreign credit problems, and offer its superior facilities to share-holding banks.
ORGANIZATION AND CONTROL
The following banks are immediately interested in the British Overseas Bank. It serves virtually as their foreign arm, and by tacit agreement they provide it with a substantial nucleus of work:
1. Anglo-South American Bank.
2. Dominion Bank.
3. Glyn, Mills, Currie & Co.
4. Charles Hoare & Co.
5. Imperial Ottoman Bank.
6. Northern Banking Co.
7. Union Bank of Scotland.
8. Williams Deacons Bank.

These eight banks are independent institutions. The third and fourth are old-established private companies. The

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