Bank of Scotland

 (2.4; 17 ratings)
2.4 17

Business Focus

universal banking

Bank of Scotland was established in 1695 and is the oldest Scottish bank. Bank of Scotland provides a broad range of retail, private and corporate banking products and services in the United Kingdom. In the 1970s Bank of Scotland started its international expansion and now conducts selected activities globally.

Services

retail banking
private banking
business banking
corporate banking

Clients

individuals
companies

Area Served

GBUnited Kingdom

Products

current accounts
credit cards
personal loans
savings accounts
ISAs
investment funds
shares dealing accounts
insurance
retirement plans

International Transfers

SWIFT Transfers
SEPA Credit Transfers
SEPA Instant Transfers
SEPA Direct Debits
FasterPayments

See Also

Account Opening

Becoming a client of Bank of Scotland can be done in a few steps:

1.
Submit online application
2.
Visit bank branch

Due to regulatory requirements Bank of Scotland performs KYC/AML checks when establishing business relationships with a new client. While onboarding a private individual Bank of Scotland will ask him/her to provide the following documents: passport or ID card; utility bill; income details. For corporate clients Bank of Scotland will ask to provide corporate documentation as well as information about controlling persons. Bank of Scotland may request additional documentation or information depending on the case. Bank of Scotland performs client's identity verification via branch visit.

Ways to Bank

Bank of Scotland delivers its products and services through both direct and indirect channels, namely:
branch
online banking
mobile app
post office

Financials

Total Assets of Bank of Scotland
Annual_profit of Bank of Scotland
Market Share of Bank of Scotland
Total Assets (2019)
381.50 bln GBP  (+10.93%)
Annual Profit (2019)
674.00 mln GBP  (-56.26%)

Bank of Scotland is the 5th largest bank in the United Kingdom in terms of total assets. In 2019 its total assets were 381,50 bln GBP, providing the bank with the market share of 4.19%. In 2019 the bank's annual profit was 674,00 mln GBP.

Credit Ratings

Fitch: A+
AAA
AA+, AA, AA-
A+, A, A-
BBB+, BBB, BBB-
BB+, BB, BB-
B+, B, B-
CCC, CC, C, RD, D
Moodys: Aa2
Aaa
Aa1, Aa2, Aa3
A1, A2, A3
Baa1, Baa2, Baa3, Baa4
Ba1, Ba2, Ba3
B1, B2, B3
Caa1, Caa2, Caa3, Ca

Bank of Scotland is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is A+ (high credit quality). Long-term credit rating assigned to the bank by Moody's is Aa2 (high grade).

Deposit Guarantee

Guarantee Fund
Financial Services Compensation Scheme (FSCS)Financial Services Compensation Scheme (FSCS)
Protected Amount
up to 85,000 GBP
Eligible Depositors
private individuals
companies
Covered Accounts
current accounts
savings accounts
time deposit accounts

Bank of Scotland participates in the deposit guarantee scheme of the United Kingdom. This deposit guarantee scheme applies to current accounts, savings accounts, time deposit accounts made by private individuals, companies and covers up to up to 85,000 GBP per bank per depositor. Bank of Scotland is a member of Financial Services Compensation Scheme (FSCS) and makes its contributions into it.

Contacts

2nd floor, Princes, 1 Earl Grey Street, EH1 1YZ, Edinburgh, United Kingdom
01313392573

Bank of Scotland is headquartered in Edinburgh.

Social Networks

Bank of Scotland has profiles at the following social networks:

Bank Identifiers

BIC (SWIFT)
BOFSGB31XXX
LEI
OQ3T05P7YR8P5YJEVI93
Company Number
SC327000
MFI ID
GB0455

Bank Supervision

Supervised By
Financial Conduct Authority
Reference Number
169628

Bank of Scotland is authorized and supervised by the Financial Conduct Authority (reference number 169628).

Bank History

Start Date
July 2007

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Banking Products in the United Kingdom

See Also

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