Quebec Bank
Encyclopedia
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| Quebec Quebec or is a province in east-central Canada. It is the only Canadian province with a predominantly French-speaking population and the only one whose sole official language is French at the provincial level.... , Canada Canada Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean... |
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| Royal Bank of Canada The Royal Bank of Canada or RBC Financial Group is the largest financial institution in Canada, as measured by deposits, revenues, and market capitalization. The bank serves seventeen million clients and has 80,100 employees worldwide. The company corporate headquarters are located in Toronto,... |
Quebec Bank was founded on June 9, 1818 to meet a perceived need by some merchants and residents Quebec City
Quebec City
Quebec , also Québec, Quebec City or Québec City is the capital of the Canadian province of Quebec and is located within the Capitale-Nationale region. It is the second most populous city in Quebec after Montreal, which is about to the southwest...
. They wanted an alternative to the newly founded Bank of Montreal
Bank of Montreal
The Bank of Montreal , , or BMO Financial Group, is the fourth largest bank in Canada by deposits. The Bank of Montreal was founded on June 23, 1817 by John Richardson and eight merchants in a rented house in Montreal, Quebec. On May 19, 1817 the Articles of Association were adopted, making it...
which they felt was inadequate for the needs of the province.
The bank was incorporated in 1822 in Quebec City and made good progress until the great revulsion of 1826-7. The first president was John William Woolsey
John William Woolsey
John William Woolsey was a Canadian businessman born at Quebec.Woolsey was the first president of Quebec Bank which was founded in 1818 and incorporated in 1822.- References :*...
. Robert Henry Bethune
Robert Henry Bethune
Robert Henry Bethune was a Canadian banker born in Cobourg, Upper Canada. He was a son of Alexander Neil Bethune....
was part of the banks organization from 1864 -1870 during a time when Quebec Bank was changing the way Canadian banks lent money. The bank was predominantly in Quebec and to a lesser extent in Ontario with a few branches in western Canada when it was absorbed by the Royal Bank of Canada
Royal Bank of Canada
The Royal Bank of Canada or RBC Financial Group is the largest financial institution in Canada, as measured by deposits, revenues, and market capitalization. The bank serves seventeen million clients and has 80,100 employees worldwide. The company corporate headquarters are located in Toronto,...
in 1917.
A small reminder of the banks existence is the Quebec Bank Building in Montreal with its name carved over the entrance.