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News Tag: banking licence

March 25, 2010

Budget 2010: Bailed out banks to lend more to businesses

by Kay Murchie
In yesterday’s Budget, Chancellor Alistair Darling unveiled plans for rescued banks, Royal Bank of Scotland (RBS) and Lloyds Banking Group, to lend more to businesses. In a legally binding agreement, RBS and Lloyds, which are 84% and 41% owned by the taxpayer respectively, were rescued at the height of the financial crisis but there have been concerns that ...

March 15, 2010

Metro Bank pledges to return to “core banking values”

by Kay Murchie
Metro Bank, which was recently granted a banking licence by the Financial Services Authority (FSA), has told Sky News that it plans to make banking a "fun retail experience". The bank, which is set to become Britain’s first new high street lender for more than a century, is set to open two branches in central London by early ...

October 26, 2009

Virgin Money continues its quest to become a bank

by Kay Murchie
Sir Richard Branson’s Virgin Money has applied to the Financial Services Authority (FSA) for a banking licence, which would enable the consumer credit arm of the Virgin Group to offer deposit accounts. The move comes at a time when consumers have lost confidence in existing High Street banks following the financial crisis and Sir Richard wants to take advantage ...