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Original Text (Annotation: EPW024105 / 208255)
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Barings Bank, Exeter Branch. From 1762 this was the Baring brothers (John and Francis) first bank and the first limited liability bank in the country. The two Baring brothers were sons of a German wool merchant living and trading in Exeter and such was the profit in the wool trade the family accumulated enough money to move into banking. From Exeter the brothers opened branches in the City of London and formed the first merchant bank. The company prospered for 233 years until 1995 when one of their employees on the Singapore trading exchange lost £835m on speculative trades and bankrupted the bank. It still says Exeter Bank above the main entrance as it did in 1762 and more recently was occupied by National Provincial Bank with beautiful mahogany counters and glass fittings. It was then occupied by the National Westminster Bank and more recently the Halifax Building Society. It is now a retail outlet. '
