SFE supports Scotland’s financial services sector and includes organisations such as HSBC, Investe, Jpmorgan, KPMG and Lloyds Banking Group. It represents an industry that employs over 160,000 people in Scotland.

The SBS is one of the world’s oldest financial institutions of its kind, after celebrating its 170th anniversary in 2018. The society has some 33,000 members.

Paul Denton, chief executive, said the society was joining “a prestigious organisation that has deep roots in Scotland’s financial sector”.

Graeme Jones, chief executive of Scottish Financial Enterprise, said: “We are thrilled to welcome the Scottish Building Society to our immense membership and know they will benefit greatly from the support, influence and promotion that Scottish Financial Enterprise offers its members.”