Sectoral Differences in English Bank Asset Structures and the Impact of Mergers, 1860-1913

Michael Collins and Mae Baker

Business History, 2001, vol. 43, issue 4, 1-28

Abstract: This article presents new, half-yearly time series on commercial bank asset ratios, broken down by types of commercial bank, 1860-1913. The new estimates highlight the degree of heterogeneity present in bank asset structures and they reveal differences in both trends and short-term movements in the asset ratios across different types of bank. The significance of these findings on the heterogeneity of commercial bank balance sheets derives from the fact that, over time, the London banks became more significant (and the provincial less so) as a consequence of bank mergers and sharply increased market concentration. The role of mergers in this process is examined directly in the article by comparing the balance sheet composition of a sample of both predator and prey banks around the time of merger. The findings have implications for the interpretation of the role of commercial banks in economic development in the period.

Date: 2001
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DOI: 10.1080/713999245

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