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Currency Commission Consolidated Banknotes
The Ulster Bank Ltd. 1929-1940

Two Types, by signature


Type 1U. C. W. Patton 1929-1935. £1, £5, £10, £20, £50, £100
Type 2U. C. W. Lester 1936-1940. £1, £5, £10

The Ulster Bank Ltd

1836


The Ulster Banking Company was founded on 22 February 1836 as a result of a meeting in Belfast to open a National Bank branch. The bank was established on 1 April 1836 with approximately 830 shareholders. It was to have started business on 1 June 1836, which is the date on its first banknotes. Final arrangements had not been completed, however, and the bank did not start to operate until 1 July 1836.

The Ulster Banking Co. opened an office in Dublin in 1862, and changed its name to The Ulster Bank Ltd. on 1 September 1883. In 1917 the bank’s share capital was bought up by the London County and Westminster Bank Ltd. The Ulster Bank continued to be a part of The National Westminster Bank Group which was taken over by the Royal Bank of Scotland Group in 2000, but retains its Ulster Bank identity in Ireland.

It issued the full range of Consolidated Banknotes in 1929, as well as its own Northern Ireland issue. Although Ulster Bank was a relatively large bank, its number of branches in the Irish Free State was relatively small, and its allocation (£419,000) of Ploughman Notes reflected this. Ploughman Ulster Bank notes are the second rarest after the Northern Bank. Lester signature £1 notes are more common than those of Patton, with the reverse being the case for £5 notes. The number of £10 notes recorded is similar for bot signatures.

The bank continues to issue banknotes in Northern Ireland.

Ploughman Notes: Banks. Page 8 of 8

1 Bank of Ireland

2 Hibernian Bank

3 Munster and Leinster Bank

4 National Bank

5 Northern Bank

6 Provincial Bank

7 Royal Bank

8 Ulster Bank





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