A small group of protesters, believed to be from Extinction Rebellion sat a dingy with an oil barrel covered in fake blood, while some blocked the road, many are standing nearby with signs reading: “Defund Deforestation"
Video clips shared on social media showed spray paint on Santander's building and doors near the protesters with spray paint reading: "Protect Amazon" and "Blood Money"
A band from Extinction Rebellion are also outside the bank.
A number of police are on the scene with services and public transport impacted as a result of the protest.
The protest appears to be peaceful, however around 50 police officers currently attended.
The protest has now ended and the road is clear.
Two people have been arrested in connection with causing disruption by having attached themselves to a lock-on device, while one other person was arrested in connection with alleged vandalism.
A smaller demonstration was held outside the J.P Morgan branch on Waterloo Street.
A Police Scotland spokesperson said: "Officers were in attendance at St Vincent Street where they engaged with protestors in order to facilitate peaceful protest.
"An element of the protest was causing disruption with individuals having attached themselves to a lock-on device.
"Two people have been arrested in connection with this and specialist officers have removed the individuals from the device.
"Another individual was arrested in connection with an alleged vandalism.
"In order to ensure the safety of the individuals, the wider public and officers dealing with the protestors, it was necessary to create a sterile area while this process was carried out."