Science Fair Project Encyclopedia
Northern Bank, is a commercial bank in Northern Ireland. The bank is considered as one of the Big Four in Northern Ireland, and issues its own banknotes. Since 1 March 2005 it has been owned by Danske Bank.
Until 1988, the bank was a subsidary of the Midland Bank. In 1987, the bank's operations in the Republic of Ireland was re-organised into a separate subsidary called Northern Bank (Ireland) Limited. In 1988, Northern Bank was acquired by National Australia Bank, upon which the operations in the Republic of Ireland were renamed National Irish Bank. Northern Bank then introduced a new logo, a stylised "N" in a hexagon shape. In 2002, the banks logotype (the word "Northern") was changed to match that of the National Australia Bank.
On 1 March 2005 the sale of Northern Bank to Danske Bank took effect, following regulatory clearance. As part of this process, Northern Bank will be separated from National Irish Bank in the Republic of Ireland and given its own dedicated management team. Northern Bank will also move over to Danske Bank's technology platform, and also adopt a variation of the Danske Bank logo as its corporate identity.
Main article: Northern Bank robbery
On 20 December 2004 the money centre at the bank's headquarters in Belfast was raided, and £26.5 million stolen. The bulk of this consisted of uncirculated Northern Bank notes, as well as some circulated notes. There was also over a million pounds in other currencies. Both in the United Kingdom and the Republic of Ireland, police, government, and political figures (with the notable exception of Sinn Féin) alleged the Provisional Irish Republican Army as being responsible.
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