▁Allen , ▁Sed g wick ▁and ▁Place ▁on ▁Bank ▁Street ▁in ▁ 1 7 7 1 . ▁Over ▁the ▁next ▁century ▁many ▁new ▁banks ▁were ▁founded . ▁They ▁built ▁impress ive ▁buildings ▁in ▁the ▁city . ▁The ▁Co - oper ative ▁Bank ▁was ▁formed ▁in ▁ 1 8 7 2 ▁as ▁the ▁Lo an ▁and ▁De pos it ▁Department ▁of ▁Manchester ' s ▁Co - oper ative ▁Wh oles ale ▁Society , ▁becoming ▁the ▁C WS ▁Bank ▁four ▁years ▁later . ▁However , ▁the ▁bank ▁did ▁not ▁become ▁a ▁registered ▁company ▁until ▁ 1 9 7 1 . ▁Its ▁global ▁headquarters ▁is ▁in ▁Bal lo on ▁Street , ▁and ▁the ▁group ▁headquarters ▁is ▁in ▁the ▁Co - oper ative ▁In sur ance ▁Tower ▁on ▁Miller ▁Street . ▁ ▁Com merce ▁in ▁Manchester ▁Manchester ▁was ▁cot ton . ▁In ▁the ▁early ▁nin ete enth ▁century , ▁there ▁was ▁some ▁cot ton ▁manufact uring ▁around ▁Red hill ▁Street ▁in ▁An co ats , ▁but ▁as ▁the ▁century ▁progress ed ▁spin ning ▁moved ▁away ▁from ▁the ▁city ▁centre , ▁to ▁towns ▁such ▁as ▁Bol ton ▁and ▁Old ham , ▁and ▁we aving ▁further ▁away ▁towards ▁north ▁and ▁east ▁Lanc ash ire . ▁Manchester ▁was ▁where ▁the ▁mer ch ants ▁met ▁to ▁sell ▁their ▁grey ▁cloth . ▁Manchester ▁mer ch ants , ▁bought ▁the ▁grey ▁( un fin ished ▁cloth ▁had ▁it ▁ble ached , ▁dy ed ▁and ▁printed ▁and ▁finish es ▁and ▁pack ed . ▁He ▁fin ances ▁the ▁cloth ▁until ▁it ▁is ▁bought ▁by ▁a