First offices of Merchants' Bank of Halifax on Bedford Row, 1869
The Merchants Bank was founded as a private commercial bank in 1864 by a close-knit group of Haligonian merchants. The bank's first office on Bedford Row was situated within sight of the busy wharves of Halifax. Focusing on the financing of fishing and timber as well as the annual flow of retail goods from Europe into the colony, the Merchants Bank was closer linked to England and the Caribbean in its early operations than it was to the heartland of the North American continent.
Confederation brought new perspectives. It also brought the necessity of a federal charter, which was obtained in 1869 under the name of the Merchants' Bank of Halifax. During the 1870s and 1880s the bank expanded into its Maritime hinterland by adding representation in Nova Scotia and establishing its presence in both Prince Edward Island and New Brunswick. At the same time it pursued the possibilities of international trade, opening an agency in Bermuda in 1882.
Did You Know?
Did you know that during the first winter after Edmonton branch opened in 1902, the only heat came
from a wood stove, lit every morning by the bank's junior clerk? The junior's next duty was to melt
the ink over the stove so that the staff could commence work.
