Building on Stable Foundations – The Story of Weatherbys Bank

Posted on 29 July 2009 by admin

Weatherbys Bank is part of the Weatherbys family of companies that was first established over 200 years ago. 

The Bank can trace its origins back to the inception of the business when the first Weatherby became stakeholder for match races. 

For over 200 years Weatherbys has provided an accounting service based on its function as the official stakeholder.  In essence, account holders had prize monies automatically credited to their account, and their racing expenses automatically debited.

Weatherbys also owns the General Stud Book, the first ever Stud Book and the one on which every other Stud Book in the world is based.

In 1994 the Weatherbys accounting operation applied for and was granted a full deposit taking licence by the Bank of England.  The bank is now supervised and regulated by the FSA and operates in a similar way to other Private and retail banks, although without a branch network.

Weatherbys Bank offers a full range of banking services in addition to the core activity of providing everyone engaged in racing with an efficient means of conducting their financial transactions.  Account holders are issued with cheque books and debit cards.  Overdrafts, loans and mortgages are available, along with high interest deposit accounts.

As a family owned bank Weatherbys always adopted a very prudent approach to balance sheet management maintaining strong liquidity and capital ratios.  This risk averse approach was recognised and appreciated by its loyal customer base during the recent turmoil in the wider banking sector when many major banks floundered.

Weatherbys Bank gives a traditional, personal service which has struck a chord with our clients, and their banking involvement with us has extended organically into their non-racing activity.  This trend has continued and the client base now includes a growing number from outside racing.

www.weatherbysbank.com

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