UK’s financial regulator has granted a new banking licence to Charter Savings Bank, an online savings bank.
The watchdog last year relaxed rules for launch of new banks, reducing time to apply for a licence and cutting down amount of capital new banks must hold.
Go deeper with GlobalData
The startup lender has been set up by Charter Court Financial Services, and will not have any branches.
The bank, scheduled to launch early this year, will offer instant access and longer term savings accounts and savings bonds.
It will be chaired by non-executive director at Leeds Building Society and ex-chief operating officer at HBOS Philip Jenks and run by CCFS chief executive Ian Lonergan.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
