NationalFinancial

National Financial Services

Funia Lan's largest Bank

History

This bank emerged from four different financial institutions:

• Funia Lan International Building Society (see separate entry)
• Funia Lan National Bank
• Second National Bank (see the entry on TUG)
• Banc Commerce

Funia Lan National Bank History

• Funia Lan National Bank began in 1944 after Independence. It established itself as the capital's dominant bank. Despite its name, the bank did not move into other cities until 1959 when a Kings City Branch was opened. It moved into multiple branches through the 1960s. The bank was an early adopter of computerisation. It opened a Finance Company subsidary National Finance Corporation in 1967.

In 1976 FNB merged with Banc Commerce to become Natcom. Its subsidary became Natcorp.

Banque de Commerce

A group of French merchants opened this bank in 1889. They also established the country's first bourse in Port Henri in that same year. By 1899, the Bourse was fully owned by Banque de Commerce. During the 1950's Banque Commerce sold part of its stake in Funia Lan Stock Exchange to fund its expansions. The bank grew through the 20th Century becoming the second biggest in the country in 1976 when it merged with Funia Lan National Bank to become Natcom.

Natcom absorbed into Statewide

Three years later in 1979, Natcom was taken over by the rapidly growing CIBS Group.

In 1984, Natcom merged with Catriona Insurance Trading Bank.

In 1994 Natcom and Natcorp merged becoming Natcom Financial Services. Statewide sold 60 per cent of the bank.

In 2002, National Bank of Funia Lan merged with Natcom Financial Services to become the country's largest bank. An attempt to merge Funia Lan International Building Society was thwarted by Monopoloies Funia lan and 75 per cent of the building society was sold.