18 JUNE 1927, Page 46


Although in a sense the impending fusion of the Equitable Bank, Limited, with the Bank of Liverpool and Martins is a small operation, it is none the less an interesting one. In the first place, the mere fact that it has Treasury consent is not without its significance, for I should imagine that there have not been wanting occasions in recent years when other proposals from various quarters in the direction of banking fusions have failed to secure the requisite official permission. In the second place, the fusion will add something like £1,500,000 to the deposits of the Bank of Liverpool and Martins, which will then have a total of over £61,000,000, making it the sixth largest bank in the Kingdom. The terms of the purchase will provide for shareholders of the Equitable Bank receiving share for share in new £1 shares of the Bank of Liverpool and Martins, together with 15s. in cash. Two of the directors of the Equitable Bank will be joining the Leeds District Board of the Bank of Liverpool and Martins. The bank just taken over was formerly known as the Halifax Equitable Bank, the title being abbre- viated in 1918. Its head office is in Halifax, but it has branches in many parts of the country. * * * *