The Bank of Scotland Case Study - Accounting Assignment Help

Assignment Task:

One upon a time (more than 300 years ago), the island of Great Britain had three kingdoms:  Scotland in the north and England and Wales in the south.  

In 1707, Scotland united with England and Wales, creating the kingdom of Great Britain.1 

Prior to the Global Financial Crisis, Scotland had two major banks, both based in Edinburgh  (the capital of Scotland) 

• The Bank of Scotland (BOS) which was established in 1695. 

• The Royal Bank of Scotland (RBS), which was established in 1727. 

In the 1990s, both Scottish banks decided to expand by competing with the larger banks  which were "south of the border" (i.e. in England).  

The Bank of Scotland took over an English Bank called Halifax and the merged entity became  HBOS (=Halifax + BOS). HBOS later expanded into Ireland and Australia (it owned Bankwest,  which is based in Western Australia). HBOS also became involved in structured finance  operations, via a subsidiary called Grampian. HBOS became the fifth largest bank in the  United Kingdom. 

RBS took over a large English bank called NatWest and the merger was quite successful,  leading to an increase in profitability. RBS then made several more acquisitions, in the USA  and several other countries. In the United States, RBS bought a bank called Citizen’s, and  also an operation involving structured finance which was based in Greenwich. By the end of  2007, RBS became the largest bank in the world (measured by assets). 

Both banks appeared to be very successful during the period from 2000 to 2007. Their  profitability and their share prices increased. 

However, both banks suffered catastrophic problems during the Global Financial Crisis – especially after the collapse of Lehman Brothers in mid?September 2008. The graphs on the  next page show the share prices of HBOS and RBS. 

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