The London Joint Stock Bank

The London Joint Stock Bank

The London Joint Stock Bank was established in 1836 and was one of the early joint stock pioneers in London.

The first branch was opened in Coleman Street in the City of London, but in 1837 the Bank moved to nearby Princess Street. The London Joint Stock Bank had influential City support and deposits rose from £600,000 in 1837 to £2.25 million by 1845. In 1840 another branch was established by the purchase of a private bank (Wright & Co.) in Covent Garden.

In 1918 The London Joint Stock Bank, which had over £60 million worth of deposits at this time, was acquired by Midland Bank. The amalgamation created the largest bank in the country.

In 1992 Midland Bank was acquired by The Hong Kong and Shanghai Banking Corporation. It was one of the largest acquisitions in banking history, giving HSBC the major foothold in Europe that it needed to complement its existing business in Asia and the Americas. Midland Bank was renamed HSBC Bank in 1999 as part of the adoption of the HSBC brand throughout the Group.

The Bank overprints appear on the postage stamps Queen Victoria, King Edward VII, and early King George V and on the Foreign Bill stamps of Queen Victoria and King Edward VII. The first overprints (full name) appear on the large format Foreign Bill stamps.The later overprints are initials only and there are two overprint styles : V2e and H2b. The last overprint pattern, used from the late Victorian period onwards, has the addition of “L” (Limited) to the wording, forming style H3b.